IonQ just landed a $54.5M quantum contract with the U.S. Air Force Research Lab (AFRL) to advance quantum networking for defense. This AFRL partnership aims to integrate quantum systems into existing infrastructure, supporting scalability and network interoperability. IonQ is on track to almost double its revenue for the third consecutive year, driven by both government and enterprise deals.

With this contract, IonQ has secured $72.8M in bookings so far in 2024, reaffirming confidence in reaching its $75-95M bookings goal. They’ve also expanded partnerships with Amazon Web Services and secured deals with top academic institutions.