Quantinuum Inc., a quantum computing company backed by Honeywell International Inc., has listed its shares on the Nasdaq after raising $1.68 billion in an upsized initial public offering. The company sold 28 million shares priced at $60 apiece.
The final pricing of $60 significantly exceeded the marketed target range of $53 to $55. This gap reflects strong investor demand and enthusiasm for the emerging technology, establishing a valuation that the rest of the quantum-computing sector will now be measured against.
During its Nasdaq debut, Quantinuum shares rose 13.3% above the listing price. This surge fetched a total valuation of $17.63 billion for the company.