Quantinuum, the Honeywell-backed quantum computing company, raised $1.68 billion in its Nasdaq debut, selling 28 million Class A shares at $60 apiece — above its earlier $53-to-$55 range — in the largest traditional IPO ever for a pure-play quantum firm. The stock trades under the ticker QNT.
Shares opened at $68 and hit a session high of $71.35 before closing little changed on June 4, leaving the company with a market value of roughly $15.7 billion. Honeywell retains about 48.1% of the combined voting power, while founder Ilyas Khan holds a stake worth more than $2 billion at the IPO valuation.
The listing lands amid a wave of quantum debuts that analysts say deepens the sector. "More quantum names reaching the public markets deepens the universe, improves price discovery, and draws sellside and institutional coverage," Wedbush analysts wrote — even as the company's roughly $14 billion valuation dwarfs its modest reported revenue.