This week, quantum giant IonQ, out of College Park, Maryland became the first publicly traded quantum technology firm company on the New York Stock Exchange. Its initial valuation is estimated to be approximately $2 Billion. IonQ is a quantum computer company, founded in 2015 by Chris Monroe and Jungsang Kim and led by CEO Peter Chapman with seed funding and a license to core technology from the University of Maryland and Duke University. After 25 years of academic research, the goal of taking trapped ion quantum computing out of the lab in College Park and into the market commercialized with the support of their partners, DMY Technology.

Quantum has long been touted as the next frontier in technology. Such computers would be capable of simulating and understanding phenomena in the natural world instantly and providing the basis for systems that are unhackable. Intel Corp. and Microsoft Corp., among other companies, are also working to advance quantum computing. The technology also has potential implications for producing new materials or creating new drugs.

Prince George’s County is proud to celebrate InoQ and all the incredible innovations and commercializing taking place at the University of Maryland flagship in College Park and throughout the County. Give our regards to Wall Street!