Story perspectives

Quantinuum IPO Nets $1.68 B, Founder Becomes Billionaire

6/11/2026

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Summary

Story summary

Quantinuum debuted on Nasdaq on June 3, raising $1.68 billion, valuing it at over $15.6 billion and making founder Illyas Khan a billionaire.
Shares opened at $58 on June 9, fell to about $51 by early June, and cut market cap to near $13 billion.
The 2021 Honeywell-Cambridge Quantum Computing merger, backed by a $300 million Honeywell investment, created Quantinuum, which builds trapped-ion computers and reported $30.9 million revenue with a $192.6 million loss in 2025.

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Story summary

Quantinuum debuted on Nasdaq on June 3, raising $1.68 billion, valuing it at over $15.6 billion and making founder Illyas Khan a billionaire.
Shares opened at $58 on June 9, fell to about $51 by early June, and cut market cap to near $13 billion.
The 2021 Honeywell-Cambridge Quantum Computing merger, backed by a $300 million Honeywell investment, created Quantinuum, which builds trapped-ion computers and reported $30.9 million revenue with a $192.6 million loss in 2025.