Quantinuum plans to raise $1.05 billion in IPO, previously included in the US government's quantum computing support program.

Quantinuum Inc., a quantum computing company supported by Honeywell International, plans to raise $1.05 billion through its initial public offering in the United States, driven by investors' enthusiasm for the technology. According to documents submitted to the U.S. Securities and Exchange Commission on Tuesday, Quantinuum plans to issue approximately 21 million shares at a price range of $45-50 per share. Based on the issued shares listed in the documents and pricing at the upper end of the range, Quantinuum's market value would reach $12.7 billion. Quantinuum produces powerful quantum computers capable of solving complex tasks beyond the capabilities of traditional processors. Quantum computers are expected to achieve an exponential leap in computing power, which is crucial for artificial intelligence. The company is developing platforms that can be used in chemistry, machine learning, network security, finance, and drug discovery. The documents show that companies like Intel and Mitsui & Co. are its early users and partners.