Honeywell's Quantinuum Targets $12.7 Billion Valuation in US IPO
By Reuters | 26 May, 2026

Led by Vimal Kapur and Rajeeb Hazra, Quantinuum is one of few quantum computing firms that has begun booking actual revenues.

Honeywell's Quantinuum is targeting a valuation of up to $12.7 billion in its U.S. initial public offering, it said on Tuesday, as it looks to capitalize on heightened investor attention around quantum computing.

The Broomfield, Colorado-based company is planning to raise up to $1.05 billion by selling about 21.05 million shares at $45 to $50 apiece. It raised funds at a $10 billion valuation in its latest funding round in September.

Investors have been backing listings from sectors viewed as strategically important, including AI infrastructure, defense and critical technologies, despite geopolitical uncertainty.

The move also comes just days after the Trump administration said it will take $2 billion in equity stakes across nine quantum-computing companies in a push to secure U.S. leadership in the emerging technology, including a $100 million grant for Quantinuum.

The race to accelerate the development of quantum computing technology, which promises to solve complex problems exponentially faster than classical supercomputers, has drawn investor interest. But technical challenges remain, including high error rates that limit practical performance.

Quantinuum, formed in 2021 after a separation from Honeywell and a merger with Cambridge Quantum, is chaired by the industrial giant's CEO, Vimal Kapur, and led by Intel veteran Rajeeb Hazra.

Honeywell, which will own about 49.1% of the combined voting power in the company, is expected to remain a customer and partner post-IPO, Quantinuum said in the filing.

The company reported a net loss of $192.6 million on revenue of $30.9 million in 2025, compared with a net loss of $144.1 million on revenue of $23 million a year earlier.

J.P. Morgan and Morgan Stanley are the joint lead active book-running managers. Quantinuum will list on the Nasdaq under the symbol "QNT."

(Reporting by Utkarsh Shetti in Bengaluru; Editing by Sahal Muhammed)