COLLEGE PARK, Md., May 11, 2026, 12:04 EDT
IonQ surged roughly 16% Monday, beating out quantum rivals Rigetti Computing and D-Wave Quantum after SkyWater Technology investors gave the green light to IonQ’s takeover of the U.S. chip foundry. SkyWater shares added around 2.4%.
This vote edges IonQ toward handling its own semiconductor production—a shift the company argues will shore up supply for its quantum hardware ambitions. SkyWater, on its side, maintained the deal remains on track to close in either the second or third quarter, pending regulatory sign-off and other final hurdles.
Timing plays a big role for IonQ here. Quantum firms are feeling the squeeze to convert research advances into products that actually sell. Investors want to know when quantum tech will start generating steady revenue, not just rack up another technical benchmark.
According to SkyWater’s May 8 filing, roughly 32.6 million shares backed the merger proposal, with just 404,800 votes against and 92,040 abstentions. The company reported that around 67% of its outstanding shares were present at the special meeting.
Back in January, IonQ struck a deal to acquire SkyWater for roughly $1.8 billion, using a mix of cash and stock. The terms put $15 in cash and $20 in IonQ shares on the table for every SkyWater share held. If completed, SkyWater is set to operate as a wholly owned unit of IonQ, still under CEO Thomas Sonderman, according to Reuters.
Quantum computers rely on qubits—the quantum equivalent of classical computing’s bits. IonQ takes a distinct path here, building its machines around trapped ions. These charged atoms are steered by lasers and electromagnetic fields in a vacuum, setting them apart from competitors that favor other hardware setups.
Just days after shareholders gave their nod, IonQ posted first-quarter revenue of $64.7 million and bumped its 2026 revenue outlook up to a range between $260 million and $270 million. Still, the company logged an adjusted EBITDA loss of $96.8 million—a signal that significant costs remain tied to its expansion.
IonQ Chairman and CEO Niccolo de Masi pointed to “strong and growing demand” for the company’s quantum computers, noting a shift from “component-level testing to integrated, system-level testing” on its 256-qubit machine. The company’s CFO, Inder Singh, put remaining performance obligations at $470 million. IonQ Investors
The deal remains incomplete. SkyWater disclosed in an April 24 filing that the Federal Trade Commission issued a second request for details, which means the Hart-Scott-Rodino waiting period now runs until 30 days after both sides substantially comply—or until the FTC decides to wrap things up sooner, or if the parties agree to a different timeline.
The real concern right now? A drawn-out antitrust process, shaky IonQ shares, or any stumble getting the hardware up to speed—all could sway how the market sees this deal. D.A. Davidson’s Alex Platt, speaking to Reuters after IonQ posted earnings, said doubts have hung over “the viability of the technology” and IonQ’s direction with its trapped-ion qubits. Reuters
Monday’s jump shifts attention straight to IonQ’s next hurdles. Shareholders at SkyWater gave the nod, but IonQ still needs to wrap up the acquisition, integrate the foundry operation, and show that controlling more of the supply chain actually gets quantum systems to paying customers faster.
