Quantinuum, the quantum computing firm backed by Honeywell, has filed for a U.S. initial public offering targeting a valuation of up to $12.7 billion. The Broomfield, Colorado company plans to raise as much as $1.05 billion by selling about 21.05 million shares priced at $45 to $50 each, in one of the most significant public debuts the quantum sector has seen.
The target marks a 27% jump from the $10 billion valuation Quantinuum reached in its September 2025 funding round. Formed in 2021 from a Honeywell spin-off merged with Cambridge Quantum, the company is chaired by Honeywell CEO Vimal Kapur and led by Intel veteran Rajeeb Hazra. Honeywell will retain about 49.1% of the voting power and stay on as a customer and partner after the listing.
The filing lands just days after the Trump administration announced it would take $2 billion in equity stakes across nine quantum-computing firms, including a $100 million grant for Quantinuum, as Washington races to secure U.S. leadership in the technology.