Quantinuum begins trading after upsized IPO
Quantinuum Nasdaq debut boosts quantum computing after a $1.68B IPO surge See how QNT opened and why investors are watching its $17.6B valuation
Quantinuum started trading on the Nasdaq on Thursday under the ticker QNT, opening at $68 per share after an upsized initial public offering.
The quantum computing company raised $1.68 billion after pricing shares at $60, above its earlier target range of $53 to $55. Based on the first trade, Quantinuum’s market value was about $17.6 billion.
Founded in 2021 through the merger of Honeywell’s quantum computing unit and Cambridge Quantum, Quantinuum develops both hardware and software for quantum computing. In its filing, the company said it serves customers in sectors including pharmaceuticals, materials science, finance, government and industry, and it reported lower revenue and a larger quarterly loss in the latest period.