MW Quantinuum's stock set to pop after IPO as Wall Street buys into the quantum boom

By Britney Nguyen

Quantinuum could be valued north of $18 billion given indications for an opening price of about $71

Quantinuum made its Nasdaq debut on Thursday.

Shares of Quantinuum are indicated to open 18.5% above their initial public offering price on Thursday when they make their Nasdaq debut in a major validation moment for the quantum-computing market.

The company (QNT) priced its upsized initial public offering at $60 per share on Wednesday evening, leading to a $1.68 billion raise. The company sold 28 million shares after it had expected to sell 26.5 million. Recent indications of a roughly $71 opening price would imply a valuation of $18.4 billion.

Unlike some other publicly-traded quantum companies, Quantinuum opted for a traditional IPO rather than going through a special-purpose acquisition company.

"You're starting to see real revenue that's coming from these companies, so it makes sense for them to start to go public," Willy Lee, a principal at SuRo Capital $(SSSS)$ said.

See more: Quantinuum raises $1.68 billion in IPO that seeks to give quantum computing more street cred

Quantum technology has been around for decades, but only in recent years has commercial adoption started to take off. While meaningful revenue is still farther out for companies focused on futuristic technologies like this, Lee noted an uptick in contracts that signals business momentum is growing.

While quantum is understood to be an important technology, "it's another thing when you start to see actual real contract volume come in," Lee told MarketWatch.

Part of that is tied to the artificial-intelligence boom, whereby companies are looking for ways to develop infrastructure faster and running into bottlenecks, he said.

Quantum computers harness massive amounts of compute power, enabling them to solve complex problems that classical computers can't handle. The technology has been touted for advancing breakthroughs across industries, from drug discovery to financial applications.

Quantinuum's IPO "speaks to the investor interest and confidence within quantum," Lee said. The U.S. government is also making investments to develop the technology in the interest of national security.

The stock's first days of trading will serve as a bellwether for the rest of the quantum space, Wedbush analyst Antoine Legault told MarketWatch. Quantum computing stocks tend to be highly correlated, so if Quantnuum's stock does well, Legault sees that action potentially lifting the rest of the sector.

-Britney Nguyen

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June 04, 2026 12:11 ET (16:11 GMT)

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