BUZZ-IonQ shares surged as the company has advanced to the final stage of the U.S. Quantum Testbed Program.

October 8 - ** Quantum computing company IonQ (stock code: IONQ.N) saw its stock price rise by 1.52% to $41.97 in pre-market trading

** The company announced that it has entered the third phase of the US Defense Advanced Research Projects Agency (DARPA) quantum benchmarking program

** This move signifies recognition of IonQ’s quantum computing technology

** DARPA is a US government agency responsible for funding and advancing the development of cutting-edge technologies for defense

** Its QBI program aims to evaluate which quantum computers will ultimately have the performance and reliability needed for real-world applications

** The third phase is the final testing and validation stage, running until 2029, with a potential contract value of up to $300 million

** As of the previous trading day’s close, IONQ has declined by 7.87% year-to-date

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