Has Quantinuum IPO'd?

Yes. Quantinuum (Nasdaq: QNT) completed its IPO on June 4, 2026, priced at $53–$55/share raising $1.46B at a $12.7B–$14.3B valuation. It is the first pure-play quantum computing company to IPO on a major US exchange. Honeywell retains approximately 48–49% voting power. The sector has underperformed in 2026 (IonQ, Rigetti, D-Wave all down 30%+ YTD), making Quantinuum's IPO a test of investor appetite for quantum computing.

Which quantum computing companies are publicly traded?

Four quantum computing companies are currently publicly traded: Quantinuum (QNT, Nasdaq, IPO'd June 4 2026 at $12.7B–$14.3B), IonQ (IONQ, NYSE, IPO'd April 2021 at $1.3B), Rigetti (RGTI, Nasdaq, IPO'd March 2022 via SPAC), and D-Wave (QBTS, NYSE, IPO'd July 2022 via SPAC). All four have underperformed in 2026 YTD due to quantum computing's long commercialization timeline.

What is the best pre-IPO quantum computing company to watch?

PsiQuantum is the most well-funded pre-IPO quantum computing candidate. It has raised $665M at a $2.7B valuation and is pursuing photonic quantum computing with a unique manufacturing partnership with GlobalFoundries. PsiQuantum's approach — using standard semiconductor manufacturing for photonic chips — is considered potentially more scalable than trapped-ion or superconducting approaches. No S-1 filing date has been announced.

Why have quantum computing stocks underperformed in 2026?

Quantum computing stocks (IonQ down 30%+ YTD, Rigetti down significantly, D-Wave down significantly) have underperformed because fault-tolerant quantum computers remain years away from commercial utility. Current 'noisy intermediate-scale quantum' (NISQ) devices cannot outperform classical computers on practical enterprise problems. The field has seen high-profile delays (IBM's roadmap pushbacks, Google Sycamore results that didn't translate to commercial products), leading investors to question near-term revenue potential. The government $2B quantum equity program backing Quantinuum is the main bull case.

How can retail investors access pre-IPO quantum companies?

For accredited investors, secondary markets (Hiive, EquityZen) offer access to PsiQuantum, Quantum Motion, and Oxford Quantum Circuits shares before any potential IPO. For public exposure, IonQ (IONQ), Rigetti (RGTI), and D-Wave (QBTS) trade on NYSE/Nasdaq. Quantinuum (QNT) is the newest public quantum computing stock as of June 2026. Quantum computing ETFs (QTUM, Q量子) offer diversified exposure without single-stock risk.

What government programs support quantum computing IPOs?

The US government committed $2B to a quantum equity program as part of the National Quantum Initiative Act, with Quantinuum receiving $100M in direct grant funding as part of this program. The EU's Quantum Flagship program and China's substantial quantum computing investment (estimated $15B+) create competitive national programs. Government grants and contracts are a key revenue source for pre-IPO quantum companies, providing non-dilutive funding and validation that reduces IPO risk.

Quantum AI IPO Stack 2026 — Quantum Computing Stocks Before & After IPO

The Stack

Quantum Computing 2026 — All Players

Companies ranked by market position, IPO maturity, and investor relevance. Quantinuum is the newest public entry (June 4 2026). IonQ, Rigetti, and D-Wave have been trading since 2021–2022.

PUBLIC — June 4 2026

Quantinuum

Nasdaq: QNT · Just IPO'd

$12.7B–$14.3B

First pure-play quantum computing IPO on a major US exchange. Raised $1.46B at $53–$55/share. Honeywell retains ~49% voting power. $100M government grant. Honeywell/Google/IBM as technology partners.

Trapped-Ion$1.46B RaiseGovernment-Backed

PRE-IPO — Watch

PsiQuantum

Private · No ticker

$2.7B valuation

Most well-funded private quantum computing company. $665M raised. Photonic quantum computing using standard semiconductor manufacturing with GlobalFoundries. Targeting 1M-qubit fault-tolerant system by 2027. $500M ARPA-E grant. No S-1 filed.

Photonic$665M RaisedGlobalFoundries

PUBLIC — Since 2021

IonQ

NYSE: IONQ · Down 30%+ YTD

~$3B market cap

Leading trapped-ion quantum computing platform. ~40 qubits, enterprise customers include Microsoft Azure Quantum, Amazon Braket, and Google Cloud. Partnerships with Microsoft, Amazon, Google. Revenue growing but NISQ limitations persist.

Trapped-IonEnterprise SaaSNYSE: IONQ

PUBLIC — Since 2022

Rigetti

Nasdaq: RGTI · Down in 2026

~$350M market cap

Native quantum processors with hybrid quantum-classical computing approach. IPO'd via SPAC March 2022 at ~$1.6B valuation. Facing competitive pressure from trapped-ion (IonQ) and photonic (PsiQuantum) approaches. 9-qubit Ankaa-1 system deployed.

SuperconductingSPAC IPORGTI

PUBLIC — Since 2022

D-Wave

NYSE: QBTS · Down significantly

~$250M market cap

Quantum annealing for optimization problems. Only company with commercial quantum computers in production use. Revenue-generating but annealing approach has limited utility vs fault-tolerant systems. Partnership with Mastercard, NTT, and NEC. Q1 2026 revenue $5.2M, down 73% YoY.

Quantum AnnealingCommercialQBTS

PRE-IPO — Seed/Series B

Quantum Motion

Private · UK-based

Est. ~$500M

UK-based, silicon spin qubits at cryogenic temperatures. $75M raised with partnership from Intel. Oxford University spinout targeting million-qubit scale. Different approach from trapped-ion (more manufacturing-friendly). No S-1 filed.

Silicon SpinIntel PartnershipUK

PRE-IPO — Series A

Oxford Quantum Circuits

Private · UK-based · QCaaS

Est. ~$150–200M

First UK-based quantum company with commercial quantum-computing-as-a-service (QCaaS). £46.3M raised, backed by Oxford Science Enterprises. Unique 'Burton' chip architecture. Smaller scale than US competitors but first to commercial SaaS model for quantum access.

QCaaSUK SaaSOxford

PRE-IPO — Seed/Series A

QuEra

Private · Harvard spinout

Est. ~$100–200M

Neutral atom quantum computing approach. Harvard/MIT spinout. $23M raised with Google partnership for quantum error correction research. Compact, room-temperature-compatible approach. Early stage but technology differentiation from trapped-ion/superconducting.

Neutral AtomsGoogle PartnershipHarvard

S-1 / Filing Status

Quantum Computing IPO Pipeline 2026

Company	Status	Valuation	IPO Signals	Investors
Quantinuum	PUBLIC — June 4 2026	$12.7B–$14.3B	IPO complete, Nasdaq: QNT	Honeywell, JPMorgan, Oxford
PsiQuantum	Pre-IPO	$2.7B	No S-1 filed. $665M raised. GlobalFoundries partnership.	Blackrock, Founders Fund, M12
IonQ	Public — NYSE: IONQ	~$3B market cap	IPO'd April 2021	Microsoft, Amazon, Google
Rigetti	Public — Nasdaq: RGTI	~$350M market cap	SPAC IPO March 2022	BMO, Trinity
D-Wave	Public — NYSE: QBTS	~$250M market cap	SPAC IPO July 2022	Mastercard, NEC, NTT
Quantum Motion	Pre-IPO	Est. ~$500M	No S-1 filed. Intel partnership.	Intel, Oxford Science Enterprises
Oxford Quantum Circuits	Pre-IPO	Est. $150–200M	No S-1 filed. First QCaaS commercial.	Oxford Science Enterprises
QuEra	Pre-IPO	Est. $100–200M	No S-1 filed. Google partnership.	GV (Google Ventures)

Key Insight — June 2026

Quantinuum's June 4 IPO is a landmark for the quantum computing sector — the first pure-play quantum computing IPO on a major US exchange. However, it comes against a backdrop of sector headwinds: IonQ, Rigetti, and D-Wave are all down 30%+ YTD as investors grow impatient with quantum computing's long commercialization timeline. The Q1 2026 revenue collapse at Quantinuum ($5.2M, down 73% YoY) highlights the challenge: quantum computing remains years from fault-tolerant, commercially useful systems. The $2B US government quantum equity program backing Quantinuum is the main bull case — government contracts and non-dilutive grants provide revenue stability that purely commercial quantum companies lack. Watch for PsiQuantum as the next major IPO candidate.

How to Access the Quantum AI IPO Stack

Public Market Access

Buy Quantinuum (QNT), IonQ (IONQ), Rigetti (RGTI), or D-Wave (QBTS) on Nasdaq/NYSE. Quantinuum is the newest public entry — retail can access at the post-IPO price. No accredited investor status required.

Pre-IPO Secondary Market

Access PsiQuantum, Quantum Motion, and Oxford Quantum Circuits shares via secondary markets like Hiive and EquityZen for accredited investors. These platforms facilitate employee and early investor share sales.

Quantum ETFs (No Single-Stock Risk)

Defiance Quantum ETF (QTUM) and iShares Quantum Computing ETF (QCLN) provide diversified exposure to quantum computing public stocks and related AI infrastructure companies without picking individual winners.

Track on TechStackIPO

Monitor real-time IPO status, valuation updates, and S-1 filings for all 8 quantum computing companies on TechStackIPO. Sign up for IPO alerts on companies with active filing triggers.

Quantum AI IPO Stack 2026

How to Access the Quantum AI IPO Stack

Public Market Access

Pre-IPO Secondary Market

Quantum ETFs (No Single-Stock Risk)

Track on TechStackIPO

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