Key facts
- Quantinuum debuted on Nasdaq under the ticker "QNT".
- The IPO raised $1.68 billion, pricing shares above the indicated range.
- The stock opened 13.3% higher than its IPO price.
- Quantinuum's market cap reached $17.63 billion at debut.
- Quantinuum signed an MOU with Mitsubishi Electric and a letter of intent with the US Department of Commerce's CHIPS R&D Office.
Quantinuum, the quantum computing unit of Honeywell, made its public market debut on the Nasdaq stock exchange on June 4, trading under the ticker "QNT". The company successfully raised $1.68 billion through its Initial Public Offering (IPO), pricing 28 million shares at $60 each, which was above the previously indicated range of $53 to $55. On its debut, the stock opened at $68, marking a 13.3% increase from the IPO price and valuing the company at $17.63 billion. J.P. Morgan and Morgan Stanley served as joint lead book-running managers for the offering. Underwriters have a 30-day option to purchase an additional 4.2 million shares to cover over-allotments. The IPO occurs amid strong investor interest in quantum computing, with rival IonQ (IONQ) having seen a roughly 52% increase in its stock price this year, reaching a market capitalization near $25.47 billion. Quantinuum, which describes itself as a full-stack quantum computing company, has customers in pharmaceuticals, materials science, financial services, and government sectors. It was formed in late 2021 from the merger of Honeywell Quantum Solutions and Cambridge Quantum. Ahead of the IPO, Quantinuum announced a non-binding Memorandum of Understanding (MOU) with Mitsubishi Electric to explore quantum use cases in industrial engineering and design, and a letter of intent with the US Department of Commerce's CHIPS R&D Office for potential federal funding for fault-tolerant trapped-ion quantum computers. This federal funding plan involves collaboration with suppliers like GlobalFoundries and Monarch Quantum to develop necessary components. The IPO officially closed on June 5, 2026.