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IonQ
IonQ is a quantum technology company based in College Park, United States, founded in 2015. It develops general-purpose quantum information processors.
IonQ
IonQ is a quantum technology company based in College Park, United States, founded in 2015. It develops general-purpose quantum information processors. The company has secured $457 million in total funding.
General information
Firm type
Asset Manager
Year founded
2015
Location
Region
North America
Country
United States
City
College Park
Corporate office
College Park, MD, United States
Additional offices
Seattle, WA · Basel, Switzerland
Principals
Peter Chapman
President and CEO
Chris Monroe
Co-Founder and Chief Scientist
Jungsang Kim
Co-Founder and Chief Technology Officer
Sector focus
Frequently asked questions
What is IonQ's core technology, and how does it differ from competitors?
IonQ builds trapped-ion quantum computers. This architecture uses individual ytterbium ions held in electromagnetic fields as qubits. The approach generates less noise and longer qubit coherence than the superconducting circuits used by IBM and Google, which supports deeper calculations. IonQ's systems are accessible via major cloud providers — customers do not buy hardware.
Is IonQ still tied to the University of Maryland?
IonQ spun out from the University of Maryland and Duke University in 2015 and is now fully independent. Co-founders Chris Monroe and Jungsang Kim maintain joint academic appointments. The company went public in 2021 and is governed by an independent board, though it retains R&D proximity to the university's quantum labs.
How does IonQ generate revenue from quantum computing?
IonQ sells compute time as a service through Amazon Braket, Microsoft Azure, and Google Cloud Marketplace. Customers pay per task or via subscription. The company also books direct contracts, including a $25.5M award from the U.S. Air Force Research Lab for quantum networking announced in 2023 (per the firm, 2023).
Who runs IonQ day-to-day?
President and CEO Peter Chapman runs the company. He previously directed engineering for Amazon Prime Air. Co-founder Chris Monroe serves as Chief Scientist, and co-founder Jungsang Kim is Chief Technology Officer. The leadership blends academic quantum expertise with enterprise software backgrounds.
How did IonQ go public, and what was the valuation?
IonQ merged with dMY Technology Group III, a SPAC, and listed on the NYSE in October 2021 at a $2 billion pro forma equity valuation. The transaction raised roughly $635 million in gross proceeds (per SEC filing, 2021). IonQ was the first pure-play quantum computing company listed on a major U.S. exchange.
What is IonQ's relationship with the U.S. government?
IonQ's foundational research received early funding from IARPA (Intelligence Advanced Research Projects Activity) and the National Science Foundation. In 2023 the Air Force Research Lab awarded IonQ a $25.5M contract for quantum networking work (per the firm, 2023). The company also participates in DARPA benchmarking programs.
Does IonQ sell physical quantum computers to customers?
No. IonQ's business model is access-based. Its systems sit in its own datacenters, and customers access them via cloud APIs. The company does sell pre-ordered access to specific systems, as with the QuantumBasel installation announced for Switzerland (per the firm, 2023), but does not ship standalone hardware units.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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