IonQ Inc (NASDAQ: IONQ) chief executive Niccolo De Masi says the Chinese government is spending more than any other nation on quantum computing in 2025.
In an interview with CNBC today, De Masi described quantum computing and quantum networking as “vital for national and economic security interests,” and called for increased US efforts in the quantum sector.
His remarks arrive at a time when AI stocks at large are struggling to regain momentum amidst uncertainty related to Trump’s new tariffs and what they could mean for the global economy moving forward.
IonQ stock is currently down some 45% versus its year-to-date high.
IonQ to become an 800-pound gorilla of quantum
Despite ongoing challenges, both on the macroeconomic level as well as ones specific to the quantum industry, IonQ continues to work with the US and other “friendly nations” on advancing quantum technology.
IonQ is fully committed to the real-life utility of quantum systems and eventually aims at becoming the “800-pound gorilla of quantum,” CEO Niccolo De Masi said on “Squawk Box Asia” this morning.
Note that Wall Street looks just as bullish on IONQ shares, given the consensus rating on the NYSE-listed firm currently sits at “buy”.
Analysts have an average price target of nearly $44 on the quantum stock at writing, which translates to a more than 50% upside from here.
Is IONQ ahead of other quantum companies?
On the CNBC interview, IonQ’s chief executive touted the company’s chip that’s both space-efficient and offers higher fidelity compared to any other business involved in building a quantum computer.
De Masi is convinced that IONQ has “picked the most efficient and wisest path to building a quantum computer,” given the firm’s technology does not require state-of-the-art refrigerators, massive storage space, a nuclear power plant, or “billions of dollars of copper wiring.”
Power and space efficiency of our chips, together with engineering improvements, is helping IonQ build “long-term customer lock-ins,” which tends to drive sustainable value for customers as well as our investors, he added.
Versus its year-to-date low, IonQ stock is currently up more than 50%.
IonQ to report Q1 earnings on May 7
Niccolo De Masi’s comments arrive only days before IonQ Inc is scheduled to report its financial results for the first quarter.
Consensus is for the quantum computing firm to lose 27 cents on a per-share basis, which translates to an increase from 19 cents a share of loss in the same quarter last year.
While the Maryland headquartered firm continues to lose money, it’s completing acquisitions and teaming up with peers to strengthen its hold in the quantum space.
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