- IonQ (IONQ) CEO Niccolo de Masi challenges industry skepticism about quantum computing’s timeline, asserting that the technology is already delivering commercial value despite predictions from figures like Nvidia’s Jensen Huang suggesting it’s 10-15 years away.
- As the first public quantum computing company, IonQ claims market leadership with double the GAAP revenue of all competitors combined in 2024, approaching $100 million at the high end of guidance, and aims to reach billion-dollar revenue “real soon.”
- IonQ has expanded beyond quantum computing into quantum networking with 600 customers, while also developing quantum AI techniques that de Masi suggests could provide better control than “black box” AI systems.
The quantum computing sector is experiencing accelerated growth that defies earlier expert predictions, according to IonQ President and CEO Niccolo de Masi in a recent Fox Business interview. Despite skepticism from industry figures like Nvidia’s Jensen Huang, who suggested quantum computing might be 10-15 years away from practical applications, de Masi contends the technology is already delivering commercial value.
“When I hear things like it’s ten years for quantum processing units, it honestly reminds me of what all the Intel CEOs said about GPUs in 2015,” de Masi remarked. “It’s true that it might be ten years before GPU makers are kind of on their knees like Intel is, but it doesn’t mean we’re not doing relevant stuff for commercial companies today, three letter agencies, government research labs, you name it.”
This optimism reflects IonQ’s remarkable journey from academic research to public company. Founded on 25 years of scientific work, IonQ accelerated its commercial development in 2015 and achieved a New York Stock Exchange listing by 2021. The company’s success stems from what de Masi describes as “the best path to turning Dr. Richard Feynman’s postulate from the 1970s into functioning commercializable quantum computers.”
IonQ has established itself as a leader in the quantum space, with de Masi highlighting several competitive advantages: “We were the first public company in the space. We are the biggest. We raised the most money. We’ve got double the GAAP revenue in 2024 of everybody else combined. We’ve got frankly three times the market cap of the biggest player. We got double the cash balance.”
The company appears to be backing these claims with financial performance. According to de Masi, IonQ has doubled its revenue for three consecutive years and aims to continue this growth trajectory. “The top end of our guidance is not that shy of a hundred million dollars of GAAP revenue this year,” he stated. This growth pattern supports what the CEO characterized as a joint “prognostication” with the company’s chairman of reaching a billion dollars in revenue “real soon” along with profitability.
Beyond quantum computing, IonQ has expanded into quantum networking, which de Masi describes as a strategic market expansion. Citing McKinsey research, he noted that “quantum networking is basically as big a business nearly as quantum computing.” This diversification has helped IonQ build relationships with “600 networking customers” and sell “dozens of systems.”
The company’s quantum computing resources are currently accessible through cloud partnerships with major technology companies. “We have many, many dozens if not hundreds of people accessing our machines through the Google, Amazon, Microsoft, Oak Ridge clouds,” de Masi explained.
When questioned about potential concerns regarding advanced quantum computing capabilities – similar to those raised about artificial general intelligence (AGI) and artificial superintelligence (ASI) – de Masi positioned quantum computing as potentially beneficial for AI development. “We’re working on quantum AI techniques right now,” he said, describing collaborations with “large global car manufacturers” on industrial AI applications.
Rather than exacerbating concerns about uncontrollable AI systems, de Masi suggested quantum computing could provide greater transparency and control. “Strong AI, East Coast AI models are gonna work on our quantum computers. I think it offers better control. Strong AI offers better control than a black box where you don’t know what the machine is doing.”
The moderator concluded the interview with investment advice that reflected his confidence in the sector’s future: “I gotta tell you, I tell everyone, own some quantum in your portfolio for sure.”
This enthusiasm for quantum computing’s commercial prospects highlights the accelerating timeline for the technology’s practical applications. While broader quantum advantage may still be developing, de Masi’s comments suggest that the “era of narrow commercial advantages” for quantum computing has already arrived, with companies like IonQ pushing to establish early leadership positions in what could become a transformative technological sector.
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