Investing.com -- Shares of IonQ Inc. (NYSE: IONQ ) have been volatile in trading on Friday. The stock is currently down 1.2% after an initial 11.7% surge earlier in the session. The movement comes on the heels of the company’s announcement of a $22 million deal with EPB to establish Chattanooga, Tennessee as the first quantum computing and networking hub in the United States.

The agreement, announced on April 25, 2025, positions EPB to be the world’s first utility company to commercially offer quantum computing, secure quantum networking, and application development. This partnership also signifies Tennessee’s rise as a significant player in the U.S. quantum economy, with plans to develop a quantum-ready workforce through specialized training opportunities.

IonQ is set to establish an office in Chattanooga as part of the deal, which includes the installation of the IonQ Forte Enterprise quantum computer at the newly formed EPB Quantum Center. The center will also house the existing EPB Quantum Network that IonQ supports. This strategic collaboration is expected to foster the creation of quantum computing algorithms aimed at optimizing energy grids and other commercial applications.

Niccolo de Masi, President and CEO of IonQ, emphasized the importance of the partnership, stating, "This partnership represents more than just a technological milestone, it’s a pivotal step in building a quantum economy and IonQ ecosystem in Tennessee.” He highlighted the potential for long-term economic growth for Chattanooga as a result of this initiative.

The Forte Enterprise system by IonQ is noted for its high performance, low energy profile, and minimal environmental isolation requirements, making it a suitable addition to the EPB Quantum Center. With this move, IonQ continues to expand its global footprint, which already includes quantum systems and data centers in various locations worldwide.

The announcement builds upon IonQ’s existing involvement in Tennessee, including partnerships with local businesses and academic institutions, as well as previous achievements in quantum computing. IonQ’s role as the primary technology partner for the EPB Quantum Network is further solidified with this new agreement, underscoring its commitment to advancing quantum networking technologies in the region.

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