13 Best Artificial Intelligence Stocks Under $50 to Buy Now

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7. IONQ Inc. (NYSE:IONQ)

Share Price as of May 12: $31.27

Number of Hedge Fund Holders: 28

IONQ Inc. (NYSE:IONQ) develops quantum computers and networks. It offers AI-driven optimization for real-world applications and sells access to quantum computers of various qubit capacities. The company provides access to its quantum computers through cloud platforms like AWS, Microsoft’s Azure Quantum, and Google’s Cloud Marketplace, as well as through its cloud service.

IONQ Inc. (NYSE:IONQ) closed its purchase of a majority stake in ID Quantique/IDQ on April 30. Based in Geneva and Seoul, IDQ is a practitioner in quantum networking. This acquisition brings leading quantum networking talent and technology directly into the IonQ family. IonQ’s vision for the quantum internet involves developing all necessary hardware, from intersatellite communications to ground-based fiber networks.

The company also announced the proposed acquisition of Boston-based Lightsynq. Lightsynq developed the first-ever quantum repeater, which extends the range of quantum networks beyond current limitations. Lightsynq brings over 25 patents and patent applications. On May 8, Richard Shannon from Craig-Hallum reiterated a Buy rating on IonQ with a price target of $45.

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