Quantinum Thursday’s Nasdaq debut was little changed, with a market value of $15.7 billion.
The stock opened at $68 per share and hit a session high of $71.35 per share. The company raised $1.68 billion in a blockbuster IPO after pricing its shares at $60 per share, above its initial range of $53 to $55.
Quantinuum was formed in 2021 through a merger with the following companies: honeywell‘s quantum computing division and UK-based Cambridge Quantum. The company describes itself as a “full-stack quantum computing platform” that spans both hardware and software.
In an S-1 filing released last month, Quantinuum said its customers span the pharmaceutical, materials science, financial, government and industrial markets and include JPMorgan Chase & Co. and JPMorgan Chase & Co. amgen.
Quantinuum CEO Rajeeb Hazra said in an interview Thursday on CNBC’s “Squawk on the Street” that “we currently have customers who are starting their quantum journeys using our off-the-shelf hardware and software, our full stack.”
Although quantum computing has attracted the attention of scientists and researchers for decades, it remains an experimental technology. This technology uses the principles of quantum mechanics to solve complex tasks far beyond the capabilities of traditional computers.
Hazra said that while quantum deployment is still in its infancy, “the need for these kinds of computing resources is absolutely warranted.”
The quantum industry received approval from the Trump administration last month.
The Department of Commerce announced it has signed a preliminary agreement to provide $2 billion in funding and acquire stakes in nine companies related to the “quantum ecosystem,” including Quantinuum, which will receive $100 million. Funding for the deal will come from the Chips and Science Act of 2022.
“This is great validation of quantum, Quantinuum, as a strategic asset for the U.S. quantum industry, and we are very grateful to have the ability to take on this responsibility and advance trapped ion-based computing,” Hazra said.
Quantinum said in its prospectus that first-quarter sales fell 73% to $5.24 million from $19.1 million in the same period last year. The company posted a net loss of $136.5 million in the latest quarter, after posting a loss of $30.5 million in the same period a year ago.
Bookings, which track total customer commitments, totaled $1.3 million in the first three months of 2026, compared with $1.9 million in the year-ago period.
Honeywell is expected to retain a majority stake after the initial public offering and will continue to be a strategic customer and partner, the prospectus states.
Quantinum’s daily stock price chart.
Big technology companies have also ramped up their investments in quantum computing in recent years. google, microsoft, Amazon and IBM Proponents say the technology solves complex problems such as drug discovery.
This week, Microsoft announced a new quantum chip that it claims is a thousand times better than previous versions and could help the company develop scalable quantum computers by 2029.
Excitement about new technology has driven quantum computing stocks higher in recent years, but the sector is susceptible to dramatic swings on small pieces of news.
righetti computing The stock price has more than doubled compared to the previous year, but ion Q and D-wave Each has increased by at least 50%. The sector slumped in the first quarter due to a decline in tech stocks.
inflectionwent public in February through a special purpose acquisition and merger, and has risen about 25% since its initial price.
Quantinam’s debut comes as the IPO market continues to heat up.
AI chip maker stock price cerebrum His debut work last month achieved a hit of almost 70%. Investors are keeping an eye on Elon Musk’s SpaceX, which is set to begin trading on the Nasdaq on June 12th. Anthropic confidentially filed its IPO prospectus on Monday, and OpenAI is also preparing to confidentially file its IPO prospectus in the coming weeks.
WATCH: A look inside Microsoft’s new quantum computing chip
