Honeywell plans IPO for quantum computing unit
Photo: Reuters
Honeywell (HON.O) announced on Wednesday that its majority-owned quantum computing unit, Quantinuum, plans to confidentially file draft IPO documents with U.S. regulators. The company has not yet revealed the number of shares or the price range for the offering.
Following the announcement, Honeywell shares rose about 1% in premarket trading, News.Az reports, citing Reuters.
Last year, Quantinuum raised roughly $600 million from investors, including Nvidia’s venture capital arm, giving the company a valuation of $10 billion.
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