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IonQ, the largest publicly traded pure-play quantum computing company, has seen its market cap soar to $13.5 billion as its stock price has increased by over 400% in the past year. Despite minimal revenue, which was flat at $7.6 million in the first quarter with a loss of $32.3 million, IonQ’s management anticipates growth, expecting revenues of $16 million-$18 million in the second quarter and $75 million-$95 million for the full year.
The growing enthusiasm for quantum computing has been fueled by advancements, such as Alphabet’s recent achievement with its Willow chip and Nvidia’s shift in perception regarding quantum technology, which is now considered to be “reaching an inflection point.” Analysts note that while IonQ’s share price currently sits at $46, a stock split is unlikely unless the price significantly increases.
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