IonQ, Inc., a leader in quantum computing, announced a strategic partnership with SoftBank Investment Advisers, manager of SoftBank Vision Funds 1 and 2, to deploy quantum-first solutions in the industries, geographies and portfolios where SoftBank is already in the vanguard, according to a news release.
Softbank runs the world’s largest technology-focused venture capital fund — its Vision Fund, alone, has over $100 billion in capital, backed by sovereign wealth funds from countries in the Middle East.
The partnership expands access to IonQ’s leading quantum computers globally, and the SoftBank Vision Fund 2* also joins IonQ’s world-leading investor base as it approaches its public debut.
“We are humbled to have such a vote of confidence from the team at SoftBank, given their unparalleled track record of spotting step-changes in technology,” said Peter Chapman, CEO & President of IonQ. “Partnering with SoftBank will enable IonQ to put our industry-leading quantum hardware in the hands of entrepreneurs, builders, and problem-solvers around the world. From logistics to proptech to materials science, the potential applications of quantum computing to SoftBank’s interests are many.”
Kirthiga Reddy, Partner at SoftBank Investment Advisers, acknowledges both IonQ, the company, as well as quantum computing as an important technology.
“IonQ is helping to solve some of the world’s most complex problems through quantum computing,” said Reddy. “Partnering with IonQ is just the latest example of our commitment to supporting visionaries who are solving tomorrow’s problems today. Both within SoftBank’s portfolio and across the broader market, we believe there won’t be an industry left untouched by the quantum revolution.”
This strategic partnership with SoftBank builds on IonQ’s continued success and proven performance. The company’s 11-qubit system is the first and only quantum computer available via the cloud on both Amazon Braket and Microsoft Azure, and its 32-qubit system is one of the world’s most powerful quantum computers.
IonQ has a critical role to play in pulling the quantum computing industry forward as its plans to develop modular quantum computers small enough to be networked together in 2023 could pave the way for broad quantum advantage by 2025, and its two co-founders, Jungsang Kim and Chris Monroe, were named to the White House’s National Quantum Initiative Advisory Committee (NQIAC). IonQ will further expand access to quantum as it prepares to become the first publicly traded quantum computing company via a merger with dMY Technology Group III (NYSE: DMYI).
Softbank is headed by largest shareholder Masayoshi Son, a legend in tech investing. Son is also the company’s largest shareholder.
For more market insights, check out our latest quantum computing news here.
