Quantum computing is having its public market moment

Quantinuum lost nearly $200 million last year, reported a decline in sales in the first quarter of 2026, saying that its technology may never work – but investors are pushing strongly to buy the stock.

The manufacturer of quantum computers has increased the price and the number of shares he will issue on the New York Stock Exchange before his stock exchange debut on Thursday, indicating a demand above expectations.

Quantum computers are an emerging technology that promises to solve problems that cannot solve current machines, and to unlock commercial benefits in areas ranging from drug research to defence. A variety of startups as well as technology giants like IBM and Google bet to build a quantum computer that is powerful enough to benefit from these advantages.

It's expensive work. Recently, a number of companies have exploited the rapidly high technology ratings and have gone to the stock exchange to raise the necessary funds while investors are trying to participate in the gold rush. The number of listed quantum computer companies in the USA has doubled since the beginning of the year.

The support of the government for technology could have calmed some investors. In May, the US Department of Commerce announced that there will be $2 billion in nine quantum companies, including $100 million in Quantinuum. According to Prineha Narang, professor of physics and electrical and computer technology at the University of California, Los Angeles, this evidence of trust will have been a “backwind” in the company’s roadmaps, as Quantinuum has secured support from investors in advance of his debut.

While Quantinuum is the fourth company of its kind in the USA this year, it will be the first to go through the slower, more regulated stock exchange process.

“One can argue that quantum physics has not yet succeeded,” Narang said. “That’s why many companies and investors are watching the Quantinuum stock exchange.”

None of the companies have so far built a quantum computer capable enough to be commercially valuable. When – and whether they will ever do it – remains uncertain. “In the quantum sector, most companies and shares have not yet bought a company, but a probability,” said Olivier Roussy, CEO of the quantum security company BTQ Technologies.

Reporting by Isabella Ward, WIRED employee author