Finnish quantum computing startup IQM has announced its intention to go public through a special purpose acquisition company (SPAC) transaction, with a valuation estimated at around $1.8 billion. This move will see IQM join the growing number of quantum computing companies listed on U.S. stock exchanges.
Founded in 2018 as a spinout from Finland’s Aalto University and VTT Technical Research, IQM focuses on commercializing on-premises full-stack quantum computers and offering a cloud platform to access its systems. The company serves a wide range of clients, including academic and industrial labs globally.
The announcement comes amid a surge in the stocks of publicly traded quantum computing companies, driven by optimism that quantum computing may soon outperform conventional supercomputers. This optimism is fueled by support from governments and major tech firms, indicating the potential for a quantum advantage in various sectors, such as life sciences and materials development.
By going public, IQM aims to secure the necessary resources to advance its commercial strategies. In 2025, the company reported $35 million in revenue and over $100 million in bookings. Following the transaction, IQM’s cash reserves are expected to exceed $450 million. However, the company’s post-listing market valuation will depend on investor interest in quantum stocks at that time.
While the hype around quantum computing continues to grow, the industry’s readiness for widespread industrial applications remains uncertain. Additionally, the resurgence of SPACs as a popular method for taking quantum companies public has raised questions about the sustainability of this trend, given the mixed outcomes experienced by investors in recent years.
Source: TechCrunch