IonQ Stock Spikes on Nvidia Deal, But Closes Below Expectations

IonQ's stock jumped on news that its Superion 256 quantum computer would be installed at Nvidia's Accelerated Quantum Research Center, but it gave back most of those gains before closing.

The announcement marked a major milestone for IonQ, as it will be the first quantum processing unit (QPU) installed at the center. The Superion 256 will connect with an Nvidia GB200 NVL72 platform and use CUDA-Q to orchestrate workloads.

IonQ's stock opened 12.5% higher but closed up only 4.42%, giving back about two-thirds of its initial gain. This price action may indicate that investors are taking a closer look at the company's valuation, which stands at around 70 times trailing sales.

The Nvidia deal is significant because it provides IonQ with a prestigious platform to test its technology in real-world applications. However, it is worth noting that the first customer deliveries and installation of Superion 256 are not expected until 2027.