Trapped-ion quantum computer startup Quantinuum files to go public
Quantinuum Inc., a startup that makes quantum chips based on a so-called trapped-ion qubit architecture, today filed to go public.
The Honeywell International Inc. spinoff hopes to sell about 21.05 million shares for $45 to $50 apiece. That adds up to $1.05 billion at the top end of the range. The offering will value Quantinuum at up to $12.7 billion, $2.7 billion more than what it was worth after its last funding round.
The company offers a quantum computer called Helios (pictured) that features 98 qubits. Each qubit is an ion, an atom with an electric charge. The particles are suspended in a vacuum by electromagnetic fields.
Many quantum computing calculations require qubits to be entangled, or synced. Helios entangles qubits by moving them into chambers called parallel gate zones. Laser emitters encode data into the qubits and read out processing results.
