IonQ, the leader in quantum computing, today announced that it
is tripling its expectation for 2021 total contract bookings from
its previously announced target of $5 million to $15 million. For
IonQ, this commercial success demonstrates the real and rapidly
accelerating need for quantum computing among enterprise customers
and cements its leadership position in quantum computing. IonQ
anticipates these bookings to generate recognized revenue over the
next 36 months.
“We could not be more thrilled with the progress we are seeing
in IonQ’s commercial efforts as a growing number of customers are
adopting quantum computing. Quantum computing has arrived and is
solving real-world problems in 2021. We fully expect to see more
marquee wins as our industry-leading technology continues to
advance,” said Peter Chapman, President and CEO of IonQ. “Tripling
our expectation for bookings validates that the market for quantum
computing is here now. We are bringing quantum computing to the
Fortune 500, along with leading governmental and academic
institutions. The future looks bright for IonQ, and we are just
getting started.”
IonQ recent operating momentum includes:
- A deal with the University of Maryland to create the National
Quantum Lab, the world’s first on-campus, commercial-grade quantum
user facility, as part of the University’s $20 million initiative
to invest in quantum computing.
- Unveiling the industry’s first Reconfigurable Multicore Quantum
Architecture technology, which allows IonQ to dramatically increase
the number of qubits and resulting power of its quantum computing
systems.
- Availability on Google Cloud Marketplace, making IonQ the first
quantum computing hardware provider on the platform, and the only
supplier whose quantum systems are available on all three major
cloud providers, including Microsoft Azure and Amazon Web
Services.
- Integration with IBM’s Qiskit quantum software development kit,
lowering the barrier to entry for quantum programmers to drive
innovation using IonQ’s quantum hardware.
- Partnership with SoftBank Investment Advisors to deploy
quantum-first solutions in large enterprises around the world.
Later this month, following a stockholder vote, IonQ expects to
complete a merger with dMY Technology Group, Inc. III (NYSE: DMYI)
(“dMY III”), a publicly traded special purpose acquisition company.
Following the merger, IonQ will be the world’s first
publicly-traded pure-play quantum computing company.
“The demand for IonQ’s quantum computers has never been
clearer.” said Niccolo de Masi, CEO of dMY Technologies III. “dMY
has an established track record of identifying and accelerating
category-disrupting technologies. All of dMY’s investments focus on
bringing innovative technological solutions to the market, and the
proof of our investment thesis for all of them is their ability to
outperform expectations.”
About IonQ, Inc.
IonQ, Inc. is the leader in quantum computing, with a proven
track record of innovation and deployment. IonQ’s 32-qubit quantum
computer is the world’s most powerful quantum computer, and IonQ
has defined what it believes is the best path forward to scale.
IonQ is the only company with its quantum systems available through
Amazon Braket, Microsoft Azure, and Google Cloud, as well as
through direct API access. IonQ was founded in 2015 by Chris Monroe
and Jungsang Kim based on 25 years of pioneering research at the
University of Maryland and Duke University. To learn more, visit
www.IonQ.com.
About dMY Technology Group, Inc. III
dMY III is a special purpose acquisition company founded by
Harry L. You and Niccolo de Masi for the purpose of effecting a
merger, capital stock exchange, asset acquisition, stock purchase,
reorganization or similar business combination with one or more
businesses or assets.
Important Information About the Merger and Where to Find
It
This communication may be deemed solicitation material in
respect of the proposed business combination between dMY III and
IonQ (the “Business Combination”). The Business Combination has
been submitted to the stockholders of dMY III and IonQ for their
approval. In connection with the vote of dMY’s stockholders, dMY
III Technology Group, Inc. III has filed relevant materials with
the SEC, including a registration statement on Form S-4, which
includes a proxy statement/prospectus. This communication does not
contain all the information that should be considered concerning
the proposed Business Combination and the other matters to be voted
upon at the annual meeting and is not intended to provide the basis
for any investment decision or any other decision in respect of
such matters. dMY III’s stockholders and other interested
parties are urged to read the definitive proxy statement, dated
August 12, 2021, and any other relevant documents that are filed or
furnished or will be filed or will be furnished with the SEC
carefully and in their entirety in connection with dMY III’s
solicitation of proxies for the special meeting to be held to
approve the Business Combination and other related matters, as
these materials will contain important information about IonQ and
dMY III and the proposed Business Combination. On or about
August 12, 2021, dMY III mailed the definitive proxy
statement/prospectus and a proxy card to each stockholder entitled
to vote at the special meeting relating to the transaction. Such
stockholders are also be able to obtain copies of these materials,
without charge, at the SEC’s website at http://www.sec.gov, at the
Company’s website at https://www.dmytechnology.com/ or by written
request to dMY Technology Group, Inc. III, 11100 Santa Monica
Blvd., Suite 2000, Los Angeles, CA 90025.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements may be made directly in this
communication. Some of the forward-looking statements can be
identified by the use of forward-looking words. Statements that are
not historical in nature, including the words “anticipate,”
“expect,” “suggests,” “plan,” “believe,” “intend,” “estimates,”
“targets,” “projects,” “should,” “could,” “would,” “may,” “will,”
“forecast” and other similar expressions are intended to identify
forward-looking statements. Forward-looking statements are
predictions, projections and other statements about future events
that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties. Many factors could
cause actual future events to differ materially from the
forward-looking statements in this press release, including but not
limited to: (i) the risk that the transaction may not be completed
in a timely manner or at all, which may adversely affect the price
of dMY’s securities; (ii) the risk that the transaction may not be
completed by dMY’s business combination deadline and the potential
failure to obtain an extension of the business combination deadline
if sought by dMY; (iii) the failure to satisfy the conditions to
the consummation of the transaction, including the approval of the
merger agreement by the stockholders of dMY, the satisfaction of
the minimum trust account amount following any redemptions by dMY's
public stockholders and the receipt of certain governmental and
regulatory approvals; (iv) the lack of a third-party valuation in
determining whether or not to pursue the proposed transaction; (v)
the inability to complete the PIPE transaction; (vi) the occurrence
of any event, change or other circumstance that could give rise to
the termination of the merger agreement; (vii) the effect of the
announcement or pendency of the transaction on IonQ’s business
relationships, operating results and business generally; (viii)
risks that the proposed transaction disrupts current plans and
operations of IonQ; (ix) the outcome of any legal proceedings that
may be instituted against IonQ or against dMY related to the merger
agreement or the proposed transaction; (x) the ability to maintain
the listing of dMY’s securities on a national securities exchange;
(xi) changes in the competitive industries in which IonQ operates,
variations in operating performance across competitors, changes in
laws and regulations affecting IonQ’s business and changes in the
combined capital structure; (xii) the ability to implement business
plans, forecasts and other expectations after the completion of the
proposed transaction, and identify and realize additional
opportunities; (xiii) the risk of downturns in the market and the
technology industry including, but not limited to, as a result of
the COVID-19 pandemic; and (xiv) costs related to the transaction
and the failure to realize anticipated benefits of the transaction
or to realize estimated pro forma results and underlying
assumptions, including with respect to estimated stockholder
redemptions. The foregoing list of factors is not exhaustive. You
should carefully consider the foregoing factors and the other risks
and uncertainties described in the “Risk Factors” section of the
registration statement on Form S-4 and other documents filed by dMY
from time to time with the SEC. These filings identify and address
other important risks and uncertainties that could cause actual
events and results to differ materially from those contained in the
forward-looking statements. Forward-looking statements speak only
as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and dMY and IonQ
assume no obligation and do not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise. Neither dMY nor IonQ gives any
assurance that either dMY or IonQ, or the combined company, will
achieve its expectations.
No Offer or Solicitation
This communication is for informational purposes only and does
not constitute an offer or invitation for the sale or purchase of
securities, assets or the business described herein or a commitment
to the Company or the IonQ with respect to any of the foregoing,
and this communication shall not form the basis of any contract,
nor is it a solicitation of any vote, consent, or approval in any
jurisdiction pursuant to or in connection with the Business
Combination or otherwise, nor shall there be any sale, issuance or
transfer of securities in any jurisdiction in contravention of
applicable law.
Participants in Solicitation
dMY III and IonQ, and their respective directors and executive
officers, may be deemed participants in the solicitation of proxies
of dMY III’s stockholders in respect of the Business Combination.
Information about the directors and executive officers of dMY III
is set forth in the Company’s Form dMY III’s filings with the SEC.
Information about the directors and executive officers of IonQ and
more detailed information regarding the identity of all potential
participants, and their direct and indirect interests by security
holdings or otherwise, are set forth in the definitive proxy
statement/prospectus for the Business Combination. Additional
information regarding the identity of all potential participants in
the solicitation of proxies to dMY III’s stockholders in connection
with the proposed Business Combination and other matters to be
voted upon at the special meeting, and their direct and indirect
interests, by security holdings or otherwise, are included in the
definitive proxy statement/prospectus.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210909005328/en/
For IonQ: Investor Contact: Michael Bowen and Ryan Gardella
IonQIR@icrinc.com Media Contact: Mission North
ionq@missionnorth.com For dMY III: Investor Contact: Niccolo de
Masi dMY Technology Group, Inc. III niccolo@dmytechnology.com
310-600-6667 Media Contact: ICR Inc. dmypr@icrinc.com
dMY Technology Group Inc... (NYSE:DMYI)
Historical Stock Chart
From Feb 2024 to Mar 2024
dMY Technology Group Inc... (NYSE:DMYI)
Historical Stock Chart
From Mar 2023 to Mar 2024