IonQ Inc. (IONQ) Chip Foray Moves One Step Closer, Soars 15%

IonQ Inc. (NYSE:IONQ) is one of the 10 Stocks With Easy Double-Digit Returns.

IonQ saw its share prices jump by 15.54 percent on Monday to finish at $56.89 apiece, as investors cheered progress on its foray into chip manufacturing.

In a statement late last week, pure-play semiconductor foundry SkyWater Technology announced that it officially secured the approval of its shareholders for its planned $1.8-billion merger with IonQ Inc. (NYSE:IONQ).

For illustration purposes only. Photo by Jeremy Waterhouse on Pexels

The transaction, which was announced in January this year, is expected to be completed in the second or third quarter of the year, subject to other regulatory approvals and closing conditions.

IonQ Inc. (NYSE:IONQ) earlier said that the acquisition would enable the company to accelerate its quantum computing roadmap and secure its fully scalable supply chain domestically.

“With secure, US-based design, packaging, and chip fabrication—IonQ will benefit from vertical integration across our increasingly interlinked quantum computing, quantum networking, quantum security, and quantum sensing applications for land, sea, air, and space,” Chairman and CEO Niccolo de Masi said.

IonQ Inc.’s (NYSE:IONQ) combination with SkyWater is set to create the first-ever vertically integrated quantum platform company and full quantum ecosystem, combining the former’s proprietary technology and architecture, and the latter’s onshore research and development, manufacturing capabilities, and differentiated development services.

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