IonQ agrees to buy chip maker SkyWater Technology for about $1.8 billion

IonQ signed a definitive agreement to acquire SkyWater Technology, a U.S. semiconductor foundry, for $35.00 per share, paid as $15.00 in cash and $20.00 in IonQ stock. The stock part is subject to a collar. The deal values SkyWater at about $1.8 billion and gives IonQ its own domestic chip manufacturing for its trapped-ion hardware. Closing was expected in the second or third quarter of 2026.

• $35.00 per SkyWater share: $15.00 in cash and $20.00 in IonQ common stock (collar applies)
• Equity value about $1.8 billion; 38.0% premium to SkyWater's 30-day VWAP as of January 23, 2026
• Expected close in Q2 or Q3 2026, subject to SkyWater shareholder approval and regulatory approvals
• IonQ said the deal brings its 200,000-qubit chip testing forward to 2028