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Stock impact report

IonQ, Inc. (IONQ) Expands its Agreement with QuantumBasel [Yahoo! Finance]

IonQ, Inc. (IONQ) 
Company Research Source: Yahoo! Finance
The extension in the contract allows QuantumBasel to extend ownership of the company's Forte Enterprise system and a next-generation Tempo system. Management noted that as a result of this contract extension, the total value of the contract between the two entities is over $60 million. Moreover, this also allows the company to stay in Switzerland for four more years. QuantumBasel acts as IonQ, Inc.'s (NYSE:IONQ) official European Innovation Center, giving companies, universities, and researchers hands-on access to the company's advanced quantum hardware. The expansion includes new joint research on optimizing large language models and hybrid quantum-classical methods. That said, on December 17, Antonie Legault from Wedbush initiated coverage of IonQ, Inc. (NYSE:IONQ) with a Buy rating and a $60 price target. Earlier on December 16, Richard Shannon from Craig-Hallum also reiterated a Buy rating on the stock without disclosing any price targets. Legault from Wedbush noted that the Show less Read more
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