Honeywell’s Quantinuum valued at $17.6 billion as shares rise in Nasdaq debut

Shares of Quantinuum rose 13.3% in their Nasdaq debut, fetching a valuation of $17.63 billion as Honeywell’s quantum computing company became the latest to benefit from robust investor demand.

The stock opened at $68, compared with its IPO price of $60. Breakthroughs in the fast-growing technology have spurred bets that quantum machines could eventually outperform conventional computers on ‌certain complex tasks. ⁠Quantinuum, like ⁠its rival IonQ, makes machines that hit trapped ions with lasers to perform quantum computations, where data can be either 1 or a 0, as with conventional computers, or both a 1 and a 0 at once.