IonQ jumps 10% after error-correction breakthrough

IonQ shares jumped 10% in early trading on Wednesday after the quantum computing company announced a breakthrough in real-time quantum error correction. The stock rose to $45 from its previous close of $40.74.

Other quantum computing stocks gained on the news as well. Rigetti Computing rose 6%, D-Wave Quantum added 4%, and Quantum Computing advanced 3%.

IonQ said researchers successfully tested an end-to-end, real-time quantum error-correction decoder on a single standard CPU. The company tested the decoder on benchmark circuits simulating up to 408 logical qubits and more than 31.5 million quantum operations. Under standard operating noise, the system added as little as 0.02% to execution time.

The company stated that these results support its plans to scale beyond 256 physical qubits toward systems capable of controlling thousands of qubits.