Honeywell International's Quantinuum on Thursday announced a $600 million funding round, with Nvidia among new investors. The announcement sent quantum computing stocks up.
The new funding round put Quantinuum's valuation at $10 billion, double from early 2024. Aside from Nvidia's venture capital arm, new investors included Quanta Computer, QED Investors and NVentures. Previous Quantinuum investors include JPMorgan Chase, Amgen and Mitsui & Co.
Quantum computing stocks have been volatile in 2025 amid controversy over how soon commercially viable quantum technology will become available. At the CES conference in January, Nvidia Chief Executive Jensen Huang dismissed quantum computing as something that won't be very useful for 15 to 30 years. But at the Nvidia GTC conference, Huang was upbeat on quantum computing's outlook.
In May, Quantinuum announced a deal with Qatar's Al Rabban Capital in what officials said could be a $1 billion joint venture over the next 10 years.
In 2021, Honeywell merged its Quantum Solutions business with Cambridge Quantum, forming Quantinuum. Honeywell remains the majority shareholder in Quantinuum, owning 52% of shares. The company uses "trapped-ion" quantum computing technology.
Honeywell has stated that it expects Broomfield, Colo.-based Quantinuum to reach new technical milestones in 2025 and 2026 on its way to an eventual initial public offering.
Quantum Computing Stocks Gain
On the stock market today, quantum computing stocks IonQ, D-Wave Quantum, Quantum Computing and Rigetti Computing advanced.
Meanwhile, Honeywell stock dipped a fraction to 212.97. Nvidia stock was flat at 170.59.
Quantum computing works on a subatomic level and uses exotic technologies, like supercold superconductor chips. Further, quantum computing aims to solve problems too complex for today's classical computers, such as simulating chemical reactions.
Follow Reinhardt Krause on X, formerly Twitter, @reinhardtk_tech for updates on artificial intelligence, cybersecurity and cloud computing.
