Is IonQ Worth The Leap?

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Futuristc CPU processor and machine learning concept. 3D illustration getty Quantum computing is in its infancy; but with its long-term promise, this remains one of the most exciting potential investment markets of tomorrow. Two of today’s sharpest market observers – Matthew Castel of the Toronto-based Logos LP and Simon Erickson, founder and CEO of 7investing – look at the risk and reward of IonQ, soon to be the first NYSE-listed pure play in this emerging field. What was particularly exciting about this year's March technology selloff was the opportunity to evaluate smaller capitalization stocks set to benefit from significant structural changes in the economy trading at more reasonable prices. One such stock we purchased in the quarter is dmy Technology III (DMYI). This is a SPAC launched by dmy Technology Group Inc....

Is Quantum Computing Startup IonQ a Buy Ahead of Its SPAC Merger?

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Special purpose acquisition company (SPAC) dMY Technology Group III (NYSE:DMYI) recently announced that it will be merging with quantum computing start-up IonQ. A number of quantum computing deals and developments have been revealed over the last couple of years that indicate that this futuristic tech could be nearing broader-based commercialization. IonQ is one of the few pure-plays in a space dominated by technology giants. It's an interesting company to keep an eye on at the very least, but investors should stay patient ahead of its public debut. Is a revolution in computing brewing? Traditional computers store and manipulate bits of data in a binary state, recording it in strings of 1s and 0s. Quantum computing introduces quantum mechanics into the equation. At the atomic and subatomic level, particles can simultaneously exist in more than one...

Quantum computing startup IonQ announces $2bn SPAC merger

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Quantum computing startup IonQ has announced a $2bn merger with a Special Purpose Acquisition Company (SPAC).The startup has entered into a merger agreement with dMY Technology Group, Inc. III, to become the first publicly traded quantum computing company.The combined company is expected to be valued at around $2 billion and IonQ shares will trade on the NYSE under “IONQ.”“This transaction advances IonQ’s mission, to solve critical problems that impact nearly every aspect of society,” said Peter Chapman, CEO & president of IonQ.“With our key strategic partners, such as Breakthrough Energy Ventures, Hyundai Motor Company, and Kia Corporation, we look forward to leveraging the power of quantum computing in the fight against climate change and to solve vexing problems from materials design to logistics that impact the transportation...

Quantum computing startup IonQ rumored to be close to $2bn SPAC merger

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IonQ is reportedly in advanced talks to merge with a blank-check company, creating one of the first public quantum-computing firms.Bloomberg reports that the quantum startup and special purpose acquisition company dMY Technology Group Inc. III are close to announcing a deal worth an estimated $2 billion. Existing IonQ investors are expected to roll their equity into the transaction.Silver Lake, MSD Partners, Bill Gates' Breakthrough Energy, and an affiliate of Hyundai Motor are all reportedly involved in talks.FEATURE: The extreme cooling requirements of Quantum computersIonQ outside dMY’s consumer comfort zoneSPACs are ‘blank check’ shell companies that list on a stock exchange and then acquire or merge with an operating private company. This route to the stock market is often quicker and involves fewer steps than a traditional IPO.Until...

Quantum Computing Startup IonQ in Merger Talks With DMY SPAC

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Gillian Tan (Bloomberg) -- IonQ is in advanced talks to merge with blank-check company DMY Technology Group Inc. III, according to people with knowledge of the matter, creating one of the first public quantum-computing firms. The combined company is slated to be worth about $2 billion and a deal is set to be announced in coming weeks, said one of the people, who asked not to be identified because the matter is private. Silver Lake, MSD Partners, Bill Gates’s Breakthrough Energy and an affiliate of Hyundai Motor Co. are in talks to participate in a so-called strategic private investment in public equity, or PIPE. Related: Data Center Provider Cyxtera to Go Public Via $3.4B Starboard SPAC DealShares of the SPAC surged 15% at 10:24 a.m. in New York. DMY Technology is discussing raising additional equity from institutional investors, and new...