Quantinuum targets $12.7B IPO, intensifying quantum market competition for IonQ

Honeywell subsidiary Quantinuum filed for an initial public offering to raise up to $1.05 billion. The filing could value the firm at $12.7 billion. This represents the largest public debut in the quantum computing sector.

The U.S. government awarded Quantinuum $100 million through the CHIPS and Science Act. Rigetti Computing, D-Wave Quantum, and PsiQuantum also signed letters of intent for $100 million awards. These investments intensify the commercial race against industry rival IonQ.