IONQ Plans 2 Million Qubits by 2030 and 80,000 Error Corrected Logical Qubits

IONQ plans to have a fault-tolerant quantum computer by 2029 and they are acquiring Oxford Ionic for a about $1 billion.

Some other important points:

– Achieved 99.99% physical fidelity TODAY

– Still on track for machine benchmarked at AQ64 this year

– 50x density on single chip by going from 1D to 2D ion trap

– Quantum memory -> 50x improved photonic interconnect as photons no longer need to arrive simultaneously

IonQ tech update is a wrap.

The big takeaway is they’ll basically have a fault-tolerant quantum computer by 2029!

Some other important points:

– Achieved 99.99% physical fidelity TODAY

– Still on track for machine benchmarked at AQ64 this year

– 50x density on single chip by… pic.twitter.com/S71ObCSScN

— Gene (@genejchan) June 9, 2025

IonQ announced its intention to acquire @OxfordIonics, accelerating our ability to deliver the world’s most powerful fault-tolerant quantum computers with 2 million physical qubits and 80,000 logical qubits by 2030.

Learn more about the deal: https://t.co/m1JqB0btG4 pic.twitter.com/4cH0jiOqTs

— IonQ (@IonQ_Inc) June 9, 2025

IonQ and Oxford Ionics today announced they have entered into a definitive agreement for IonQ to acquire Oxford Ionics in a transaction valued at $1.075 Billion, which will consist of $1.065 Billion in shares of IonQ common stock and approximately $10 Million in cash (subject to customary closing adjustments and expenses).

IonQ is a leader in quantum computing and networking, developing high performance systems based on trapped ion technology, to help solve the world’s most complex commercial and research challenges. Oxford Ionics holds the current world records for fidelity, which measures the accuracy of quantum operations.

The transaction will bring together IonQ’s quantum compute, application and networking stack with Oxford Ionics’ groundbreaking ion-trap technology manufactured on standard semiconductor chips. The combined technologies are expected to deliver innovative, reliable quantum computers that increase in power, scale, and problem-solving capabilities. Both companies expect to benefit from the other’s complementary technologies, deep expertise, and IonQ’s global resources and established customer base.

The combined company expects to build systems with 256 physical qubits at accuracies of 99.99% by 2026 and advance to over 10,000 physical qubits with logical accuracies of 99.99999% by 2027. The combined company anticipates extending its innovation by reaching 2 million physical qubits in its quantum computers by 2030, enabling logical qubit accuracies exceeding 99.9999999999%.

The quantum computing market is projected to create up to $850 billion of global economic value by 2040 according to Boston Consulting Group. The management teams believe the transaction will enable the combined company to pioneer breakthroughs in quantum computing. IonQ expects that combining with Oxford Ionics will help drive the creation of disruptive applications that enable substantial revenue growth opportunities.

Oxford Ionics’ team is expected to play a vital role in the combined company’s future. Both Oxford Ionics founders, Dr. Chris Ballance and Dr. Tom Harty, are expected to remain with IonQ after the acquisition is completed, continuing their pioneering work on quantum technology development in the UK. The combined entity also plans to expand its workforce in Oxford to further develop the UK’s position as a leader in quantum computing. IonQ expects that combining with Oxford Ionics will help drive the creation of disruptive applications that enable substantial revenue growth opportunities.

The combined company expects to maintain all existing customer relationships, including government partnerships in both the UK and US. The company also plans to continue working with the UK National Quantum Computing Centre and the government’s Quantum Missions program, driven by the Department for Science, Innovation and Technology and Innovate UK, helping to develop practical quantum computing applications in manufacturing, pharmaceuticals, and defense.

“IonQ’s vision has always been to drive real-world impact in every era and year of quantum computing’s growth. Today’s announcement of our intention to acquire Oxford Ionics accelerates our mission to full fault-tolerant quantum computers with 2 million physical qubits and 80,000 logical qubits by 2030,” said Niccolo de Masi, CEO of IonQ. “We believe the advantages of our combined technologies will set a new standard within quantum computing and deliver superior value for our customers through market-leading enterprise applications.

De Masi continued, “We are pleased to welcome Oxford Ionics founders Dr. Chris Ballance and Dr. Tom Harty, and the rest of the Oxford Ionics team to IonQ. Their groundbreaking ion-trap-on-a-chip technology will accelerate IonQ’s commercial quantum computer miniaturization and global delivery. Our combined path to millions of qubits by 2030 will help ensure unit economics, scale, and power as quantum computing rapidly evolves.”