IonQ (IONQ) shares are inching up at writing after the quantum technology specialist announced successful results from a high-profile research collaboration with Nvidia (NVDA), Amazon (AMZN) and AstraZeneca (AZN). 

On Monday, the group demonstrated quantum-accelerated computational chemistry workflow that could dramatically reduce the time required for drug development. 

Including today’s gain, IONQ stock is up 120% versus its year-to-date low in March. 

Significance of Nvidia Collaboration for IonQ Stock

The aforementioned collaboration is meaningful for IonQ shares as it validates the company’s hybrid quantum-classical computing model in a real-world, high-stakes application: drug discovery. 

By linking its quantum hardware with Nvidia’s advanced GPU acceleration and AWS’ scalable infrastructure, the NYSE-listed firm has demonstrated tangible value in a notoriously computation-heavy sector. 

Not only do the findings strengthen IonQ’s commercial credibility, but they also position it as a key player in the fast-emerging market of quantum-enhanced molecular modeling. 

Simply put, the research could open doors for more enterprise partnerships and significant revenue opportunities, which may translate to an increase in this quantum computing stock’s price over time.  

IONQ Shares Gain on Oxford Ionics Acquisition

IonQ shares are trending up at the time of writing also because the NYSE-listed firm announced a $1.1 billion acquisition of Oxford Ionics on Monday. 

Bringing the UK-based startup, known for its innovative trapped-ion quantum computing systems, under its umbrella strengthens IONQ’s technology portfolio and global presence. 

The deal could accelerate IonQ’s roadmap by integrating Oxford’s breakthroughs with its hardware and cloud infrastructure. It also positions the company as a more formidable player in the race for commercial quantum advantage, expanding its tale base and IP. 

Still, analysts recommend caution in buying IONQ stock at current levels. 

Is It Too Late to Invest in IonQ?

According to Wall Street analysts, a massive rally in IonQ shares over the past three months has baked in a lot of the good news already. 

While the consensus rating on IONQ still currently sits at “Moderate Buy,” the mean target of $40 suggests the quantum computing stock is fairly valued and lacks any further upside from here.