Quantinuum Files Nasdaq IPO at $10 Billion Pre-Money Valuation as Quantum Stocks Reach $36 Billion
Updated
Updated · Crunchbase News · May 18
Quantinuum Files Nasdaq IPO at $10 Billion Pre-Money Valuation as Quantum Stocks Reach $36 Billion
3 articles · Updated · Crunchbase News · May 18
Quantinuum has filed to go public on Nasdaq, setting up the most closely watched quantum-computing exit in coming weeks after its last private round valued it at $10 billion pre-money.
Investor appetite for listed quantum names helps explain the timing: D-Wave, IonQ, Quantum Computing and Rigetti are worth about $36 billion combined, while Xanadu recently debuted with a roughly $5 billion market cap.
Private funding remains active but slower than last year’s peak, with quantum startups raising $1.2 billion so far in 2026 versus a record $4.1 billion in 2025.
May has still produced large rounds, including Photonic’s $200 million financing at a $2 billion valuation, QuantWare’s $178 million Series B and Quantum Motion’s $160 million Series C.
The filing extends a broader sector boom in which public quantum companies are also buying startups, including IonQ’s $1.08 billion Oxford Ionics deal and D-Wave’s $550 million Quantum Circuits acquisition.
With a $20B valuation and huge losses, is Quantinuum's IPO a visionary bet or a spectacular bubble?
Can Quantinuum's quantum IPO succeed while China controls its critical mineral supply chain?
Quantinuum’s $20 Billion IPO Ambition: Financials, Valuation Drivers, and Quantum Industry Implications
Overview
Quantinuum, Honeywell’s quantum computing unit, has filed for a traditional IPO, aiming to raise about $1.5 billion and provide investors with more transparent financial information. This move stands out from the usual SPAC route taken by other quantum firms. Despite reporting $36 million in revenue for the year ending March 2026, Quantinuum posted a significant net loss of $192.6 million in 2025, reflecting the common financial challenges in the early-stage quantum industry. The IPO signals a shift toward greater market maturity and could set a new standard for transparency and investor confidence in the quantum computing sector.