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Xanadu Quantum Technologies Goes Public, Valued at $3.1 Billion

3/5/2026

Summary

Story summary

Xanadu Quantum Technologies will become publicly listed through a merger with Crane Harbor Acquisition Corp., valuing the combined entity at about $3.1 billion.
Xanadu becomes the first publicly listed company focused on photonic quantum computing after its Analyst Day at Nasdaq.
Xanadu aims for meaningful commercialization by 2029.
Post-transaction, Xanadu projects a net cash position of about $455 million to fund research and development (R&D), leveraging Aurora system and PennyLane.

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Story summary

Xanadu Quantum Technologies will become publicly listed through a merger with Crane Harbor Acquisition Corp., valuing the combined entity at about $3.1 billion.
Xanadu becomes the first publicly listed company focused on photonic quantum computing after its Analyst Day at Nasdaq.
Xanadu aims for meaningful commercialization by 2029.
Post-transaction, Xanadu projects a net cash position of about $455 million to fund research and development (R&D), leveraging Aurora system and PennyLane.