Shares of quantum computing pioneer IonQ soared more than 15% on Monday, May 11, 2026, after investors in SkyWater Technology gave their resounding approval to IonQ’s $1.8 billion takeover of the U.S.-based semiconductor foundry. The vote, which saw approximately 32.6 million shares in favor and only 404,800 against, marks a pivotal milestone in IonQ’s determined push to bring more of its chip manufacturing and packaging operations under its own roof—a move expected to strengthen its ambitions in the rapidly evolving quantum hardware sector, according to Reuters and filings reviewed by CNBC.
SkyWater’s special meeting, held just days prior, drew about 67% of the company’s outstanding shares. The proposal’s passage sent both companies’ stocks higher: IonQ closed at $56.89, up 15.54%, while SkyWater shares edged up by 2.4%. Trading volume for IonQ topped 55.9 million shares, more than double its three-month average, reflecting the market’s keen interest in the deal’s implications for the quantum computing landscape.
Yet, the transaction is not quite over the finish line. The companies still need to clear a series of regulatory hurdles, including a second request for information from the Federal Trade Commission (FTC) issued on April 24, 2026. This request extends the Hart-Scott-Rodino waiting period until 30 days after both companies substantially comply, or earlier if the FTC wraps things up sooner. Both sides remain optimistic, projecting that the acquisition will close in either the second or third quarter of 2026, pending all necessary approvals and customary closing conditions.
The strategic rationale for the deal is clear. By acquiring SkyWater, IonQ aims to absorb the foundry’s U.S.-based semiconductor manufacturing and advanced packaging capabilities, with facilities in Minnesota, Florida, and Texas poised to support IonQ’s future quantum production. According to The Korea Economic Daily, this will allow IonQ to secure and directly manage the supply chain for the semiconductor chips essential to building next-generation quantum computers—a crucial step as the global market for quantum technology heats up.
IonQ, which went public in 2021, has been on a tear. Its shares have climbed 427% since its initial public offering, and investors who bought $1,000 worth of IonQ stock five years ago would now be sitting on $5,706. Despite this impressive appreciation, the stock remains volatile, with 80 moves greater than 5% in the past year alone. Monday’s jump, however, stands out even in this context, signaling a strong market reaction to the news of shareholder approval.
The acquisition comes at a moment when the quantum computing sector is under increasing pressure to translate scientific breakthroughs into real-world products and revenue. Investors are eager for signs that companies like IonQ can move beyond technical milestones and deliver commercial results. In this vein, IonQ’s first-quarter 2026 earnings, announced just days after the SkyWater vote, offered a mixed bag. The company reported record revenue of $64.7 million—a staggering 755% increase from the previous year—and raised its full-year guidance to a range of $260 million to $270 million. But the numbers also revealed the heavy costs of growth: IonQ posted an adjusted EBITDA loss of $96.8 million and an adjusted loss of $0.34 per share for the quarter.
“We’re seeing strong and growing demand for our quantum computers,” IonQ Chairman and CEO Niccolo de Masi told Reuters, highlighting a shift from “component-level testing to integrated, system-level testing” on the company’s flagship 256-qubit machine. Chief Financial Officer Inder Singh added that remaining performance obligations stood at $470 million, underscoring a robust pipeline of business but also the challenge of converting that demand into profits.
SkyWater, for its part, will become a wholly owned subsidiary of IonQ if the deal goes through, continuing to operate under the leadership of CEO Thomas Sonderman. The transaction, structured as a mix of $15 in cash and $20 in IonQ stock for each SkyWater share, is designed to keep both companies aligned as they navigate the complex integration process. According to SkyWater’s May 8 filing, the overwhelming support from its shareholders reflects confidence that the merger will position both firms for greater success in the quantum era.
Quantum computers, unlike their classical counterparts, rely on qubits—the quantum analog of bits—which can exist in multiple states simultaneously. IonQ distinguishes itself by building its machines around trapped ions, steering these charged atoms with lasers and electromagnetic fields inside a vacuum. This approach sets IonQ apart from competitors like Rigetti Computing and D-Wave Quantum, which use different hardware architectures. On Monday, both Rigetti and D-Wave also enjoyed stock gains, reflecting broader optimism in the sector.
Still, the road ahead is not without obstacles. The FTC’s extended review could delay the closing, and there’s always the risk that regulatory concerns or integration challenges could slow IonQ’s momentum. Industry analysts, such as D.A. Davidson’s Alex Platt, have noted lingering doubts about “the viability of the technology” and the company’s direction with its trapped-ion approach. Investors are also watching closely to see whether IonQ can successfully integrate SkyWater’s fabrication and packaging capabilities into its quantum hardware roadmap—and, crucially, whether this will help the company deliver quantum systems that paying customers actually want.
For now, though, the market’s verdict is clear: shareholder approval of the SkyWater deal is a big win for IonQ, giving it a crucial leg up in the race to commercialize quantum computing. With regulatory hurdles still to clear and plenty of technical and business challenges ahead, all eyes will be on how IonQ manages the next phase of this ambitious expansion. If the company can pull off a smooth integration and demonstrate that controlling its own chip supply translates into faster, more reliable quantum hardware, it could solidify its position as a leader in one of the most exciting—and unpredictable—frontiers of modern technology.
The coming months will reveal whether this bold bet pays off, but for now, IonQ has given investors and quantum enthusiasts alike plenty to talk about.