US-based full-stack quantum computing company Quantinuum is reportedly preparing for an IPO with a target valuation of USD 10 billion according to a Bloomberg report.

The IPO is speculated to take place next year. Quantinuum has not commented on the speculation but has also not offered firm denials. Honeywell currently owns a 54% stake in the company, with IBM also being an investor.

Analyst QuickTake: Quantinuum joins the growing line of pure-play quantum computing companies going public. Most recently, in April 2024, Zapata Computing went public via a SPAC deal with a USD 137 million valuation. If the deal goes through as expected, with the estimated valuation of USD 10 billion, Quantinuum would become the highest valued quantum computing company at IPO. Quantinuum also recently achieved several technical and business milestones, including collaborations with Microsoft, RIKEN, and Singapore's National Quantum Office. In January, the company completed a USD 300 million funding round. In April 2024 , it also achieved the “three 9's,” a 99.9% two-qubit gate fidelity in a commercial quantum computer—marking the first in the industry to do so—while surpassing a quantum volume (QV) of 1 million, the highest thus far.