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  "documentTitle": "IonQ Inc. (IONQ)",
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  "notes": "The slide uses federal procurement data to suggest Oxford Ionics had advanced to the second round of a DARPA competition by July 2025, contradicting the narrative of IONQ's acquisition timing.",
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      "text": "This disclosure shows Oxford Ionics knew they were going to get to the second round (receiving a total of $6 million) by July 2025, and they may have even known informally before then.",
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      "text": "IONQ's largest acquisition in 2025 was the purchase of Oxford Ionics... But what is the point of consolidation when we are years away from a viable commercial product in quantum computing?",
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      "text": "This disclosure shows Oxford Ionics knew they were going to get to the second round (receiving a total of $6 million) by July 2025, and they may have even known informally before then.",
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      "text": "IONQ Spent $1.6 Billion on Oxford Ionics After It Was Humiliated When DARPA Did Not Choose Them to Get Past the First Round of a Competition to Find a Quantum Computer That Could Have Industry Utility Within 10 Years",
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