Honeywell's Quantinuum valued at $17.6 billion as shares rise in Nasdaq debut

Article excerpt

Quantinuum, the quantum computing company spun out from Honeywell, opened at $17.6 billion in valuation on its Nasdaq debut, with shares climbing in early trading. The company, formed in 2021 through a merger of Honeywell's quantum division with the UK-based Cambridge Quantum, is betting on near-term applications for quantum processors in drug discovery, materials science, and optimization problems. The IPO marks a significant moment for the quantum computing sector as it seeks to move beyond hype toward commercial viability. Quantinuum claims to have built some of the industry's highest-performing quantum processors and boasts partnerships with major tech and financial firms.