Horizon Quantum and IonQ Enter into Strategic Agreement to Unlock Quantum Potential

SINGAPORE & COLLEGE PARK, Md.--(BUSINESS WIRE)--Apr 9, 2026--

Horizon Quantum Holdings Ltd. (“Horizon Quantum”), a pioneer of software infrastructure for quantum applications and IonQ — the world’s leading quantum platform company — today announced a strategic agreement. Horizon Quantum will purchase one of IonQ’s first 6th-generation, chip-based 256-qubit trapped-ion systems, in furtherance of Horizon Quantum’s mission to unlock the full potential of quantum computing with its software platform. The acquisition of the 256-qubit system marks a further step in Horizon Quantum’s efforts to enable broad quantum advantage.

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IonQ’s 256-qubit system is designed to provide researchers and developers significantly more computing capacity to explore complex problems, with its microwave gate operations and 99.99% gate fidelity, while producing more accurate and reliable solutions using Horizon Quantum’s real-world software infrastructure. The forthcoming IonQ system will be designed so all of its qubits can work together efficiently from its “all-to-all connectivity” and parallel operations enabling a broader range of calculations with greater flexibility.

With this technology, Horizon Quantum plans to expand the capabilities of its quantum hardware testbed beyond the initial superconducting system with a second, technologically distinct hardware modality. Horizon Quantum will be among only a few efforts globally to operate commercial systems of multiple modalities, which will allow Horizon Quantum to make further progress towards its goal of building the most capable, hardware-agnostic environment for quantum software development. Horizon Quantum intends to expand support for trapped-ion systems in Triple Alpha, along with enhancing the real-time runtime capabilities within its execution infrastructure. This is expected to enable advanced functionality, including general control flow, dynamic memory allocation, and concurrent classical/quantum function evaluation, empowering developers to go beyond the limits of static circuit execution and create adaptive, expressive quantum programs. By tightly integrating Triple Alpha with frontier quantum computing systems, Horizon Quantum aims to ensure that its software infrastructure provides developers with the most direct path to broad quantum advantage.

“I could not be more delighted to be working with IonQ to bring trapped ion and world-leading gate fidelities to our testbed,” said Horizon Quantum Founder and CEO Dr Joe Fitzsimons. “Bringing a state-of-the-art system with the capabilities of hundreds of qubits will provide an important and cutting-edge resource to bear in our quest to unlock broad quantum advantage for developers.”

About Horizon Quantum

Horizon Quantum [Nasdaq: HQ] is on a mission is to unlock broad quantum advantage by building software infrastructure that empowers developers to use quantum computing to solve the world’s toughest computational problems. Founded in 2018 by Dr Fitzsimons, a leading researcher and former professor with more than two decades of experience in quantum computing, Horizon Quantum seeks to bridge the gap between today’s quantum hardware and tomorrow’s applications through the creation of advanced software development tools. Its integrated development environment, Triple Alpha, enables developers to write sophisticated, hardware-agnostic quantum programs at multiple levels of abstraction. Learn more at www.horizonquantum.com.

About IonQ

IonQ, Inc. [NYSE: IONQ] is the world’s leading quantum platform and merchant supplier - delivering integrated quantum solutions across computing, networking, sensing, and security. IonQ’s newest generation of quantum computers, the forthcoming IonQ Tempo, will be the latest in a line of cutting-edge systems that have been helping customers and partners including Amazon Web Services, AstraZeneca, and NVIDIA achieve 20x performance results and accelerate innovation in drug discovery, materials science, financial modeling, logistics, cybersecurity, and defense. In 2025, the company achieved 99.99% two-qubit gate fidelity, setting a world record in quantum computing performance.

Headquartered in College Park, Maryland, IonQ has operations in California, Colorado, Massachusetts, Tennessee, Washington, Italy, South Korea, Sweden, Switzerland, Toronto, and the United Kingdom. Our quantum computing services are available through all major cloud providers, while we also meet the needs of networking and sensing customers across land, sea, air, and space. IonQ is making quantum platforms more accessible and impactful than ever before. Learn more at IonQ.com.

Note to Investors Regarding Forward-Looking Statements

This press release includes forward-looking statements. The expectations, estimates, and projections of the businesses of Horizon Quantum and IonQ may differ from their actual results and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “anticipate,” “intend,” “may,” “will,” “could,” “should,” “potential,” “plan” “enable,” and similar expressions are intended to identify such forward-looking statements. Actual results may differ materially and adversely from those expressed or implied in any forward-looking statements and Horizon Quantum and IonQ therefore caution against placing undue reliance on any of these forward- looking statements. Many of these factors are outside of the control of Horizon Quantum and IonQ and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) statements regarding estimates and forecasts of other financial, performance and operational metrics and projections of market opportunity; (2) references with respect to the anticipated benefits of the strategic relationship with IonQ; (3) the outcome of any efforts to integrate IonQ’s trapped-ion technology with Horizon Quantum’s software infrastructure; (4) Horizon Quantum’s ability to scale and grow its business, and the advantages and expected growth of Horizon Quantum; (5) the cash position of Horizon Quantum; (6) the ability to recognize the anticipated benefits of the recently completed business combination with dMY Squared Technology Group, Inc., which may be affected by, among other things, competition, the ability of Horizon Quantum to grow and manage growth profitably and source and retain its key employees; (7) costs related to the strategic relationship with IonQ; (8) changes in applicable laws and regulations or political and economic developments; (9) the possibility that Horizon Quantum may be adversely affected by other economic, business and/or competitive factors; (10) Horizon Quantum’s estimates of expenses and profitability; (11) difficulties operating Horizon Quantum’s quantum processors and the possibility that the quantum processors do not provide the advantages that Horizon Quantum expects; (12) the ability of Horizon Quantum to integrate access to its quantum computing test bed, including IonQ’s technology, within its Triple Alpha platform; (13) the ability of Horizon Quantum’s coding languages to provide additional abstraction when compared to other quantum computing solutions; (14) the entry into the Quantum Systems Agreement, dated March 31, 2026 among Horizon Quantum and IonQ, Inc. (the “IonQ Agreement”), and Horizon Quantum’s ability to recognize the benefits of the IonQ Agreement; (15) the ability to maintain the listing of Horizon Quantum’s Class A ordinary shares and warrants on Nasdaq; and (16) other risks and uncertainties included in the “Risk Factors” sections of the Registration Statement on Form F-4 filed by Horizon Quantum in connection with the Business Combination, other documents filed or to be filed with the SEC by Horizon Quantum, and those described under the heading “Risk Factors” in IonQ’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC. The foregoing list of factors is not exclusive. New risks emerge from time to time, and it is not possible for management to predict all risks, nor can management assess the impact of all factors on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. You should not place undue reliance upon any forward-looking statements, which speak only as of the date made. Horizon Quantum and IonQ do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law.

A close-up of a current trapped ion system from IonQ. The system to be delivered to Horizon will be IonQ’s next-generation 256-qubit technology

This photo depicts a current trapped ion system from IonQ. The system to be delivered to Horizon will be IonQ’s next-generation 256-qubit technology

BUDAPEST, Hungary (AP) — When President Donald Trump returned to the White House last year, he was eager to pick up where he left off by strengthening ties with Europe's right wing. But now many of those same factions are expressing open revulsion at the Iran war, rupturing relationships that were supposed to usher in a new international order.

Although Vice President JD Vance campaigned for Hungarian Prime Minister Viktor Orbán this week, such a display has become the exception rather than the rule among conservatives and far-right leaders in Europe.

Italian Premier Giorgia Meloni refused to let the United States use an air base in Sicily to launch attacks on Iran. France’s National Rally leader Marine Le Pen described his war goals as “erratic." And the head of Germany’s Alternative for Germany party called for American troops to leave their bases in the country.

Even with a fragile ceasefire in place with Iran, Trump's support for Orbán may not work out for the autocratic Hungarian leader, who faces a tough election this weekend. He's long been an icon for the global right and many American conservatives who have hoped the Trump administration could replicate the Hungarian leader’s effort to choke off immigration and restructure government to ensure his Fidesz party stays in power.

That longstanding connection could insulate Orbán from some of the anti-Trump blowback rattling the rest of Europe, but that's not guaranteed, said Charles Kupchan, a professor of international relations at Georgetown University and a senior fellow at the Council on Foreign Relations.

“Getting a blessing from Donald Trump is now a mixed blessing,” he said.

The backlash over the war follows European broad revulsion at Trump's threats earlier this year against NATO ally Denmark over his demand that the country give Greenland to the United States.

Trump tied the two issues together on Wednesday, complaining that NATO didn't help more in recent weeks.

“NATO WASN’T THERE WHEN WE NEEDED THEM, AND THEY WON’T BE THERE IF WE NEED THEM AGAIN,” he wrote on social media. "REMEMBER GREENLAND, THAT BIG, POORLY RUN, PIECE OF ICE!!!"

Daniel Baer, a former ambassador and State Department official in President Barack Obama's administration, said the latest round of tension with Europe's far right shows the limits of Trump's hope of helping nationalist leaders worldwide.

“Building some sort of international coalition around national chauvinism is very difficult,” said Baer, now with the Carnegie Endowment for Peace. “It's clear the majority of people in these countries, if not anti-American, have turned anti-Trump.”

Orbán has stood out for not shifting with the anti-Trump political tide in Europe.

In an interview with conservative British broadcaster GB News last month, Orbán argued that when it came to the war with Iran, “the question is whether (Trump) has started a war or a peace.”

“It hasn’t (been) decided yet, historians will make a decision on that,” Orbán said. “I think we need some time to understand whether we are moving to the peace by these strikes, or just the opposite. It’s too early to say.”

Orbán’s caution toward raising any critical word toward Trump goes beyond shared ideology. The Hungarian leader has for years sought to convince voters that his close ties with Trump — as well as with other global figures such as Russian President Vladimir Putin — make him uniquely suited to represent Hungary’s interests abroad.

Consequently, he has played up Trump’s praise of him to his base, and campaigned for reelection by assuring Hungarians that his alliance with Trump’s administration is a guarantee of security and prosperity.

Orbán reveled in the attention from Vance this week. The vice president slammed Orbán critics in the European Union for what he called “foreign interference” in the election, even as he stumped for the Hungarian leader.

On Wednesday, Vance briefly discussed what he called a “fragile truce” in the Iran war during an appearance at an elite higher education institution in Hungary, which has received generous funding from Orbán's government and is run by the prime minister's political director.

Vance praised the school for being “an institution that tries to build up the foundations of Western civilization." The Trump administration has tried to exert more influence over elite universities in the U.S., echoing Orbán's agenda in Hungary.

Some analysts are unconvinced of Orbán's strategy, noting that perceptions of the current U.S. administration have been turning more negative even in Hungary.

“Vance’s visit could have the opposite effect on Orbán's popularity than the one intended,” said Mario Bikarsku, senior Europe analyst at risk intelligence company Verisk Maplecroft.

Kupchan said most European far-right parties have established political staying power independent of any American influence, and may not have an incentive to go along with Trump's agenda.

“Trump's effort to create a transnational movement of far-right populists may affect the margins, but the main reason you're seeing Reform U.K. and AfD and National Rally and other far-right parties prosper has little to do with Trump and more to do with national factors,” he said.

Part of that is a global backlash against any party in power. In Europe, that's mainly benefited the out-of-power far right. But in Hungary, that's put Orbán's future in jeopardy — he's been in power for 16 years.

“We're living in an age,” Kupchan said, “where being an incumbent sucks.”

Riccardi reported from Denver.

Hungary's Prime Minister Viktor Orban, left, and U.S. Vice President JD Vance wave to the audience at the end of a pre-election rally in Budapest, Hungary, Tuesday, April 7, 2026. (AP Photo/Denes Erdos)

A member of the audience holds a portrait of U.S. Vice President JD Vance during a Day of Friendship event held by Vance and Hungarian Prime Minister Viktor Orban, in Budapest, Hungary Tuesday, April 7, 2026. (Jonathan Ernst/Pool Photo via AP)

U.S. Vice President JD Vance and Hungarian Prime Minister Viktor Orban, left, shake hands during a Day of Friendship event in Budapest, Hungary Tuesday, April 7, 2026. (Jonathan Ernst/Pool Photo via AP)