IonQ (IONQ) stock surged nearly 7% on June 30 following the Texas state legislature’s passage of the Texas Quantum Initiative. IonQ actively supported this legislation to establish the state as a hub for quantum technology. The bill mandates the development of a strategic plan to advance quantum computing, networking, and sensing technologies across Texas.

Representative Giovanni Capriglione emphasized that quantum technology is “quickly becoming a reality” with applications spanning national security, manufacturing, pharmaceuticals, and critical infrastructure. The initiative aims to accelerate the integration of quantum technology into Texas’ economy while fostering innovation.

IonQ CEO Niccolo de Masi expressed enthusiasm about collaborating with Texas leaders, universities, and industry partners to drive the development of quantum-powered solutions. The positive momentum extended beyond IonQ, with rivals Rigetti Computing (RGTI) and Quantum Computing (QUBT) also posting gains.

This bill represents a potential catalyst for IonQ stock, which has spent most of 2025 in negative territory. The quantum computing stock has now turned positive for the year following the announcement from Texas. State-level support could accelerate the adoption of quantum technology and provide IonQ with strategic partnerships and revenue opportunities.

However, quantum computing remains in the early stages of commercialization, with uncertain timelines for widespread adoption. While Texas’s commitment signals growing institutional support, investors should weigh the long-term potential against current execution risks and market volatility in the quantum sector.

Should You Buy, Sell, or Hold IONQ Stock Right Now?

IonQ outlined an aggressive expansion strategy during its recent webinar, announcing its intention to acquire Oxford Ionics, alongside the completion of the Lightsynq acquisition. These expansion plans are expected to accelerate the quantum company’s roadmap toward large-scale, fault-tolerant quantum computing. 

The combined technologies promise dramatic scaling improvements. IonQ now projects 10,000 physical qubits on a single chip by 2027, expanding to 20,000 qubits across two interconnected chips by 2028. Most remarkably, it targets over 2 million physical qubits, translating to 80,000 logical qubits by 2030, figures that CEO Niccolo de Masi claims are “leagues ahead” of competitors.

Near-term commercial validation continues to strengthen IonQ's position. The company demonstrated a 20-fold increase in speed in pharmaceutical computations with AstraZeneca (AZN), using just 36 qubits, while partnerships with Ansys (ANSS) showed 12% improvements in simulation performance. These early wins demonstrate a quantum advantage before full fault tolerance is achieved.

For investors, these acquisitions are evidence of a strong partnership ecosystem that provides additional competitive advantages as quantum computing transitions from research to commercial reality.

Is the Quantum Computing Stock Overvalued?

IonQ is part of a rapidly expanding addressable market and is forecast to increase sales from $43 million in 2024 to $750 million in 2029. While still unprofitable, its losses are estimated to narrow to $48.6 million in 2029, from $214 million in 2024. 

Out of the six analysts covering IONQ stock, four recommend “Strong Buy,” one recommends “Moderate Buy,” and one recommends “Hold.” The average target price for the quantum computing stock is $42.50, which is below the current trading price.