15 Best Small Cap AI Stocks to Buy Right Now

10. IonQ, Inc. (NYSE:IONQ)

Number of Hedge Fund Holders: 28

​IonQ, Inc. (NYSE:IONQ) is a quantum computing company that develops and operates quantum computers based on trapped-ion technology. Its systems are accessible through major cloud platforms and are designed to solve complex problems beyond the capabilities of classical computers. The company offers both hardware and software solutions, including a proprietary operating system and quantum programming tools. IONQ’s technology is closely tied to AI, as quantum computing is expected to accelerate AI model training and optimization, positioning the company to benefit from the convergence of AI and quantum computing. The US-based company ranked 6^th on our recent list of 11 Best Quantum Computing Stocks to Buy Right Now.

IonQ, Inc. (NYSE:IONQ) has established itself as a commercial leader in quantum computing since its IPO, with a focus on building a rich and deep ecosystem. The company’s Forte system currently operates with 36 algorithmic qubits, and they plan to announce an AQ 64 system by year-end, which will be 270,000,000 times more powerful than the current Forte system. IONQ differentiates itself through its room-temperature quantum computing solution, which requires only the space of two refrigerators and connects to a standard wall socket, making it more practical and energy-efficient than competitors. The company has secured significant partnerships, including a $94.5 million contract with the Air Force Research Lab for systems and networks. IonQ’s portfolio includes both quantum computing and networking capabilities, with approximately 933 patents (400 in networking, 500 in computing).

IonQ, Inc. (NYSE:IONQ) has demonstrated commercial success through partnerships with major organizations like AstraZeneca for drug discovery, General Dynamics for anomaly detection, Ansys for computational engineering, and Airbus for logistics. For fiscal year 2024, IonQ has provided revenue guidance of $75 million to $95 million, with expectations to achieve nine figures in GAAP revenue the following year. The company’s quantum networking initiatives have expanded through acquisitions, including IDQ, which brings relationships with key partners like SingTel, SK Telecom, and JP Morgan. With 28 hedge funds owning the stock, IONQ is one of the best small cap AI stocks to buy right now.