IonQ shares were up 7% to $15.19 after the company said it reached a new deal with the U.S. Air Force Research Lab to deploy two barium-based trapped ion quantum computing systems for quantum networking research and application development.
The stock hit its 52-week high of $21.60 on Sept. 12, and is up 199% in the past 12 months.
The contract, valued at $25.5 million, comes one year after IonQ entered into an agreement with the Air Force Research Lab to provide access to the company’s trapped ion systems.
As part of the contract, IonQ will deliver and set up its quantum-computing systems at the Air Force Research Lab’s location in Rome, N.Y.
In the second quarter, IonQ said it reached a $28 million in bookings.