Quantinuum Founder Ilyas Khan Becomes Billionaire After $1.68 Billion IPO
Updated
Updated · VnExpress International · Jun 11
Quantinuum Founder Ilyas Khan Becomes Billionaire After $1.68 Billion IPO
3 articles · Updated · VnExpress International · Jun 11
Summary
Ilyas Khan’s roughly 15% stake in Quantinuum is now worth about $2.2 billion after the quantum computing company raised $1.68 billion in its June 3 IPO.
The offering sold 28 million shares at $60 each, making it the largest stock market listing by a quantum computing company to date; the stock opened at $58 on June 9.
Quantinuum was formed in 2021 by merging Honeywell Quantum Solutions with Khan’s Cambridge Quantum Computing, with Honeywell contributing $300 million and ion-trap hardware expertise.
The debut lands as quantum investing accelerates: the Trump administration named Quantinuum among nine startups eligible for support from a program offering up to $2 billion in grants and equity investments.
The listing underscores rising enthusiasm for quantum computing from backers including Google, Microsoft, Amazon and IBM, even as the sector remains volatile and highly sensitive to new breakthroughs.
With falling revenue and huge losses, can Quantinuum's record IPO prevent a quantum investment bubble from bursting?
Beyond the hype, what tangible problems will quantum computers solve first, and when will they impact our daily lives?
As 'Q-Day' looms, is the world's shift to new cryptography fast enough to secure our data from future attacks?
Quantinuum’s Historic $1.68B Nasdaq Debut: Industry Disruption, Billionaire Founder, and the Future of Quantum Computing
Overview
Quantinuum made its historic debut on the Nasdaq in June 2026, marking a major milestone for the quantum technology sector. The IPO valued the company at $1.68 billion and was closely watched by investors and industry experts. Despite strong demand for shares, the immediate market reaction was lackluster, and quantum stocks—including rivals like IonQ—fell after the listing. Quantinuum’s IPO set a new benchmark for valuing quantum companies, highlighting both the excitement and challenges in this emerging field. This event underscores the sector’s potential while revealing ongoing uncertainty in market acceptance and valuation.