The brief
- Closed its $1.8B purchase of chip maker SkyWater on 31 July 2026, gaining its own fab.
- Reported 99.99% two-qubit fidelity in October 2025 using Oxford Ionics' electronic control.
- Raised $2B in equity in October 2025, one of the sector's largest raises.
Technical approach
Microwave gates on chip
Qubits are driven by electrodes and microwaves built into the chip, not many lasers. That means standard fabs can make it.
Scaling on-chip
Plans 2D trap chips with thousands, then tens of thousands, of ions each, made at SkyWater.
Linking chips with light
Ions emit photons that link chips together, using tech from buys such as Lightsynq, to reach millions of qubits.
IonQ, two programs
Updated 18d agoResearch & demos
- Oct 2025paper99.99% two-qubit gate fidelity with electronic qubit control (opens arxiv.org)Tempo and 2D-chip roadmap
First reported 'four nines' two-qubit gate, reducing the qubits needed for error correction.
- Sep 2025
Hit IonQ's own benchmark target ahead of schedule.
Open technical problems
- Photonic link ratesActive research
Linking ions on separate chips via light is still far slower than local gates, so linked chips can't yet act as one.
- Integration riskOpen
Six acquisitions in two years (Oxford Ionics, ID Quantique, Capella, Lightsynq, Vector Atomic, SkyWater) must merge into one plan.
Upcoming catalysts
- 2027First Superion 256 customer deliveriesTempo and 2D-chip roadmapby ~15 mo
Peers
Company & funding
- Raised
- $3Bdisclosed private rounds
- Last round
- Equity offeringOct 2025
- Listed
- IONQ (opens google.com)NYSE
- HQ
- US
- Founded
- 2015
- Website
- ionq.com (opens ionq.com)
| Date | Round | Amount | Post-money | Lead |
|---|---|---|---|---|
| Oct 2025 | Equity offering | $2B | — | Heights Capital Management |
| Jul 2025 | Equity offering | $1B | — | Heights Capital Management |
| Oct 2021 | SPAC listing (dMY III) | $636M | — | — |
Partners & customers
- Partner
Acquired by IonQ for about $1.08B (closed 2025).
- Partner
Acquired by IonQ for about $1.8B (closed Jul 2026); now a subsidiary foundry.
- Partner
Majority stake acquired in 2025 for quantum-safe networking.
- Customer
Chemistry simulation demo with AWS and NVIDIA (2025).
- Customer
$22M quantum computing and networking deal in Chattanooga.
People
- Niccolo de MasiChairman and CEO
- Chris Monroe (opens en.wikipedia.org)Co-founder


