NEW YORK, April 16, 2026, 12:38 (EDT)
IonQ shares pushed higher Thursday, extending a steep two-day rally. The quantum computing firm picked up momentum after landing a contract under DARPA’s new HARQ initiative and successfully connecting two commercial quantum systems via photonic link. By midday in New York, the stock gained 2.8% to trade at $44.46, up from Wednesday’s $43.25 close and well above the $35.76 finish on Tuesday.
Timing is critical here. IonQ will release its first-quarter numbers on May 6, with investors watching closely for any evidence that progress in quantum computing is translating into actual revenue and secured business. Back in February, IonQ reported its 2025 revenue at $130 million and projected between $225 million and $245 million for 2026—a guidance in a field Reuters has called “highly volatile.” IonQ Investors
DARPA kicked off HARQ on April 14, aiming to find out if quantum machines cobbled together from different qubit types can actually function as one. Qubits, those fundamental pieces of quantum information, usually come from a single technology—something this program wants to move past, according to DARPA. “We’re trying to get away from a ‘one-qubit-to-rule-them-all’ mentality,” program manager Justin Cohen said. darpa.mil
IonQ says it’s handling quantum memories and interconnects for HARQ, tapping synthetic-diamond parts designed to connect trapped-ion, neutral-atom, and superconducting setups. “Our pioneering quantum interconnect technology,” CEO Niccolo de Masi said, could enable modular scaling for multiple quantum platforms. IonQ Investors
Elsewhere that day, IonQ announced it had managed to use photons—light particles—to establish a quantum link between two of its trapped-ion systems, marking what the company bills as the world’s first connected commercial quantum computers. De Masi described it as a “pivotal moment,” framing the achievement as IonQ’s shift away from stand-alone processors to networked quantum architectures. IonQ Investors
Investors reacted not just to the company headlines, but also to a wider sector jolt after Nvidia introduced Ising, describing it as an open AI model family for quantum calibration and error correction. Quantum calibration? That’s the tuning of the processor. Error correction deals with catching mistakes before noise gets out of hand. Nvidia claims its new tools address both issues.
Peers followed suit. Rigetti climbed roughly 3.4%, while D-Wave Quantum advanced about 7.5% by midday Thursday. TD Cowen analyst Krish Sankar called Nvidia’s latest models a “key accelerant” for commercialization, according to MarketWatch, and B. Riley’s Craig Ellis pointed to the potential for the new releases to drive adoption over time. MarketWatch
IonQ has been more forthcoming with figures than most smaller peers. For 2025, revenue jumped 202% to $130 million, with over 60% of sales attributed to commercial clients. The company closed out the year holding $3.3 billion in cash, cash equivalents and investments. “Quantum is resonating with the commercial sector,” CFO Inder Singh said. IonQ Investors
The company’s moving to secure more control over its hardware as well. Back in January, Reuters said IonQ struck a deal to acquire SkyWater Technology for roughly $1.8 billion, aiming to internalize semiconductor production. That acquisition is slated to close sometime in the second or third quarter of 2026.
Risks haven’t gone anywhere. IonQ is still projecting an adjusted EBITDA loss between $310 million and $330 million for this year, while the shares, even after this week’s bounce, are trading far under their 52-week peak of $84.64. The real check comes May 6, when investors get to see if the latest flurry of deals and technical wins is actually moving the needle on revenue and forecasts.
