Quantinuum, a quantum computing startup, is losing millions. Investors want in anyway.
Quantinuum lost nearly $200 million last year, saw revenue drop the first quarter of 2026, and says its technology may never work–yet investors are clamoring to buy the stock.
The quantum computer maker boosted the price and number of shares it will issue on the New York Stock Exchange ahead of its public debut on Thursday, indicating higher-than-anticipated demand.
Quantum computers are a nascent technology that promise to solve problems current machines can’t, unlocking commercial advantages in areas from drug discovery to defense. A multitude of startups, as well as tech giants like IBM and Google, are racing to build a quantum computer powerful enough to realize these benefits.
It’s expensive work. Lately, a number of firms have taken advantage of sky-high tech valuations and gone public to raise the necessary funds, as investors scramble to be part of the gold rush. The number of publicly traded quantum computer companies in the US has doubled since the start of the year.
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I didn't realize that there were this many quantum companies.
And more are coming. The FOMO is real, don't forget even the US government is in on it.
US government takes $2 billion equity stake in nine quantum computing firms #1494389
Is quantum the next mega tech trade?
I mean, I think so! But in this game, nothing’s a sure thing.
Indeed
Losing $200 million while demand for your IPO increases is the kind of math only bull markets understand.