tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

Honeywell’s (HON) Quantum Computing Arm Raises $600M at $10B Valuation

Story Highlights

Quantinuum, backed by Honeywell, doubled its valuation to $10 billion with a $600 million capital raise.

Honeywell’s (HON) Quantum Computing Arm Raises $600M at $10B Valuation

Quantinuum, the quantum computing company majority-owned by Honeywell (HON), has announced a $600 million equity capital raise at a pre-money valuation of $10 billion. This new round doubled the company’s valuation since its previous $300 million funding in January 2024. The funding reflects the growing investor confidence in the quantum computing sector.

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

The capital injection included a mix of both new and existing investors, with tech giant Nvidia (NVDA) joining as a key new player through its venture capital arm, NVentures. Other participants included existing shareholders such as Honeywell, JPMorgan Chase (JPM), Mitsui (MITSY), and Amgen (AMGN).

Funding to Boost Quantum Tech

This funding round will fuel Quantinuum‘s efforts to advance and scale its trapped-ion quantum computer technology stack.

Also, the move is expected to speed up the launch of Helios, Quantinuum’s next-gen quantum computer, and help the company work toward making quantum systems reliable enough for everyday use.

Quantinuum’s Road Ahead

Quantinuum aims to become the first company to achieve universal fault-tolerant quantum computing, which would make quantum systems reliable enough for complex, real-world tasks across industries.

The company operates across the U.S., U.K., Germany, and Japan, with recent expansions into Qatar, Singapore, and New Mexico. It has also partnered with Nvidia, RIKEN, SoftBank (SFTBY), and Infineon (IFNNY), signaling a strong push into quantum AI, cryptography, and hybrid classical-quantum systems.

Moreover, Honeywell has stated its intention to pursue an initial public offering (IPO) for Quantinuum, possibly by 2027. This move aims to provide Quantinuum with the capital and independence needed to achieve its long-term goals and benefit from the growing quantum computing market. 

Is HON Stock a Good Buy?

Turning to Wall Street, HON stock has a Moderate Buy consensus rating based on five Buys and five Holds assigned in the last three months. At $252.30, the average Honeywell stock price target implies a 17.45% upside potential.

See more HON analyst ratings

Disclaimer & DisclosureReport an Issue

1