IonQ has finalized a contract to deliver a 100‑qubit IonQ Tempo quantum system to the Korea Institute of Science and Technology Information (KISTI), creating the first hybrid quantum‑classical onsite integration in South Korea. The system will be embedded in KISTI’s upcoming 6th national supercomputer, HANKANG, and will be available to researchers, universities and enterprise users through a secure private cloud.
The agreement specifies that the 100‑qubit Tempo platform will be integrated into KISTI‑6’s high‑performance computing cluster, with a projected delivery and full integration in 2026. While the financial terms of the contract have not been disclosed, the partnership represents a new government‑backed revenue stream for IonQ and expands its footprint in the Asia‑Pacific region.
This deal aligns with IonQ’s strategy of deploying its trapped‑ion technology in key national research centers. It follows earlier contracts such as a $54.5 million agreement with the U.S. Air Force Research Laboratory and collaborations in Japan and South Korea with companies like SK Telecom and Hyundai Motor. The KISTI partnership therefore strengthens IonQ’s position as a leading provider of hybrid quantum‑classical solutions worldwide.
IonQ’s financial trajectory underscores the significance of the KISTI contract. In Q3 2024 the company generated $12.4 million in revenue and secured $63.5 million in bookings, while full‑year 2024 revenue reached $43.1 million with $95.6 million in bookings. The company held $363.8 million in cash and investments as of December 31 2024, providing liquidity to support continued expansion despite ongoing net losses and adjusted EBITDA losses.
CEO Niccolo de Masi described the partnership as a “defining moment” for both IonQ and South Korea, emphasizing the role of the quantum system in addressing the nation’s most significant research challenges. KISTI President Dr. Sik Lee called the collaboration a “significant leap forward” in advancing quantum computing in the country, highlighting the strategic importance of hybrid quantum‑classical infrastructure for future scientific breakthroughs.
Market reaction to the announcement was muted; IonQ’s shares fell 1.1% to $53.26 on the day of the deal. Investors appeared cautious, weighing the strategic benefits of the partnership against the company’s continued net losses and the broader valuation environment for quantum‑technology firms.
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