IonQ Inc ( IONQ ) shares are trading higher Wednesday ahead of Nvidia Corp’s first-ever Quantum day. Here’s what you need to know.

What To Know: Nvidia's ( NVDA ) GTC 2025 event started Monday and runs through the end of the week. Nvidia ( NVDA ) will host its first Quantum Day at GTC 2025 on Thursday, bringing together key industry figures from the global quantum computing community, including IonQ’s Peter Chapman.

IonQ ( IONQ ) announced its participation after the market close on Tuesday. At the event, IonQ ( IONQ ) will highlight several recent real-world demonstrations of quantum-accelerated computation for commercially-relevant applications. Chapman will also talk about the company’s progress in quantum on a panel led by Nvidia ( NVDA ) CEO Jensen Huang.

“IonQ is looking forward to joining NVIDIA GTC’s first-ever Quantum Day to showcase how quantum computing is delivering value to enterprises today,” Chapman said.

“Our focus on commercial-grade quantum systems is enabling real-world applications across industries, and we look forward to demonstrating significant progress at GTC.”

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The conference has the potential to move quantum stocks one way or the other. Quantum computing names soared toward the end of 2024 on optimism surrounding technical advances, but the group quickly sold off after Huang suggested at CES 2025 that quantum computing could be two decades away from practical use.

IonQ ( IONQ ) shares are down about 33% over the past month leading up to Nvidia’s Quantum day. Short seller Kerrisdale Capital announced a short position against IonQ ( IONQ ) last week, citing valuation concerns.

“Despite retreating from all-time highs, shares still trade at a staggering 40x consensus 2026E revenue,” the short seller said.

IONQ Price Action: IonQ ( IONQ ) shares were up 3.97% at $23.58 at the time of publication Wednesday, according to Benzinga Pro.