Quantinuum Targets $12.7 Billion IPO Valuation

Quantinuum Seeks $12.7 Billion Valuation in U.S. IPO

Honeywell's quantum computing subsidiary, Quantinuum, announced on Tuesday its intention to target a valuation of up to $12.7 billion in its upcoming U.S. initial public offering. The Broomfield, Colorado-based company plans to raise up to $1.05 billion by offering approximately 21.05 million shares at a price range of $45 to $50 per share.

This IPO initiative follows a recent funding round in September where Quantinuum secured investments at a $10 billion valuation. The move capitalizes on increased investor interest in quantum computing, a sector deemed strategically important, and aligns with recent U.S. government efforts to bolster domestic leadership in the technology. The Trump administration recently announced plans to invest $2 billion in equity stakes across nine quantum computing firms, including a $100 million grant for Quantinuum.

Quantinuum, established in 2021 from a separation from Honeywell and a merger with Cambridge Quantum, reported a net loss of $192.6 million on revenues of $30.9 million in 2025. This compares to a net loss of $144.1 million on revenues of $23 million in the preceding year. Honeywell is expected to retain approximately 49.1% of the combined voting power post-IPO and will continue as a customer and partner. J.P. Morgan and Morgan Stanley are serving as the joint lead active book-running managers for the listing on Nasdaq under the symbol "QNT."