Quantinuum plans a Nasdaq listing under ticker QNT at a valuation of about $12.7 billion, even as rising losses and reliance on government-backed revenue highlight the sector’s early commercialization risks.
Quantinuum announced terms for a U.S. IPO that could raise as much as $1.05 billion by selling shares at $45 to $50 each, implying a valuation of around $12.7 billion. The Honeywell-backed quantum computing company plans to list on Nasdaq under the ticker QNT, above the $10 billion valuation it received in a September 2025 private round that raised $600 million from investors including Nvidia’s NVentures, Quanta Computer, JPMorgan Chase, Mitsui, and Amgen. The company reported $30.9 million in 2025 revenue, up 35% year over year, but its net loss widened to $192.6 million from $144.1 million. In the first quarter of 2026, revenue fell 73% year over year to $5.2 million while net loss increased to $136.6 million from $30 million. Almost three-quarters of 2025 revenue came from U.S. government contracts and Japan’s RIKEN. Quantinuum develops trapped-ion quantum computers, using electrically controlled ions as qubits, rather than the superconducting approach used by IBM and Google.