Three private quantum computing companies are getting closer to the public markets, with strong funding, credible backers, and roadmaps built around near-term commercial milestones. Investors looking ahead to the next wave of tech IPOs may want to keep an eye on PsiQuantum, Quantinuum, and PASQAL.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Pleased to Make Your Acquaintance
PsiQuantum is one of the most well-funded quantum startups in the world, having raised more than $1.3 billion. The company is based in the U.S. and focuses on building large-scale, fault-tolerant quantum computers using photonic qubits. Its strategy leans heavily on silicon photonics and deep partnerships with Microsoft (MSFT), NVIDIA (NVDA), and GlobalFoundries (GFS). PsiQuantum aims to build a one-million-qubit machine and has designed its platform for industrial-scale manufacturing. Given its size, focus, and backers, it is widely seen as a top IPO prospect in the sector.
Quantinuum is another standout. Formed by merging Honeywell Quantum Solutions (HON) with Cambridge Quantum, the company uses trapped-ion qubits and offers a full-stack solution, from hardware to enterprise-ready software. It has significant backing from a partnership with SoftBank (SFTBY) and is considered among the most mature players commercially. Quantinuum has already launched several products and is generating revenue. It remains a top candidate for a public offering, supported by strong institutional partnerships and a growing list of enterprise clients.
PASQAL, based in France, takes a different approach with neutral-atom quantum computing. The company has raised more than $152 million, with investors including Temasek, the Defense Innovation Fund, and the European Innovation Council Fund. France’s Ministry of Armed Forces also supports PASQAL. It recently opened a factory in Québec and sold a 100-qubit processor to Canada’s Distriq. PASQAL aims to reach 250 qubits by 2026 and scale to 10,000, with an eye on solving real-world problems. It partners with NVIDIA and IBM (IBM), and its systems are already running in high-performance computing centers.
Growing Investors’ Interest
All three companies are pushing toward commercialization and expanding global access through cloud platforms, such as Microsoft Azure and Google Cloud (GOOG) (GOOGL). While the timing of any IPO remains unclear, their progress signals a maturing market with growing investor interest.
As publicly traded quantum names like IonQ (IONQ) and Rigetti (RGTI) continue to attract attention but also face volatility, these next-generation private players may offer a stronger foundation when they do enter the public market. Investors looking for the next big leap in tech may want to keep them on the radar.
Using Tipranks’ Comparison Tool, we’ve assembled and compared some of the prominent quantum companies on Wall Street. The comparison tool helps investors gain a broader view of each stock and industry, enabling them to make smarter investing decisions.
