Last week, the group Scorpion Capital published a poorly researched 183-page deck intended to manipulate the stock price of IonQ, a quantum computing company we co-founded and where we serve as Chief Scientist and Chief Technology Officer. We are referenced over 150 times in the report, mostly with breathless accusations of fraud and malfeasance. Along with most who know us, we are amused at the extreme level of ignorance behind this attack. But for those who do not know us or IonQ, we feel the need to comment clearly and forcefully.
The report is riddled with disinformation, demonstrating a breathtaking ignorance of the quantum computing industry in general and IonQ technology in particular. However, the disclosure page is clear – it admits that Scorpion has a financial incentive for devaluing IonQ, it does not vouch for the accuracy of any of the report contents, and it acknowledges editing interviews with paid experts and former employees while suppressing positive opinions on IonQ.
Quantum computing is likely the only known path to tackle some problems that are intractable using conventional computers. Governments across the world are racing to capture this technology, for ultimate use cases impacting data security and touching nearly all sectors of the economy. Businesses large and small are entering the fold, as quantum technology leaves the research laboratory and is now rapidly developing in industry. As the first public “pure-play” quantum company, IonQ is an easy target for questionable stock manipulation tactics such as publishing misinformation and betting against the company through a short-selling strategy.
IonQ is a leading quantum computing company, competing with the world’s largest tech companies in the quest to scale this vital technology. IonQ has been building quantum computers based on research we have pioneered for almost three decades, including the first ever demonstration of a quantum gate. We have built several generations of quantum computers with increasing levels of performance, and some of our early systems can be accessed via commercial cloud servers, where enormous numbers of quantum circuits have been run over the last few years. We believe IonQ has a well-defined path to scale its hardware and tackle problems of commercial value, which it expects will happen in a few years, not in a decade or two. IonQ is a fast-growing company with over 130 incredible people who are here for one reason: to build amazing computing machines designed to solve problems the world previously thought to be impossible.
It is hard to overestimate the potential of quantum computers to society. The largest and most successful technology companies agree, along with governments across the United States, China, Europe, and elsewhere. IonQ is recognized as a leading player in this crucial technology space, and we are confident in and excited about the value we can create for society, our customers and our stockholders.
We will continue to share our technical and business progress in coming days and weeks, including on our Q1 2022 earnings call on Monday, May 16th after markets close in the United States.
Chief Technology Officer