Quantinuum, a quantum computing startup, just raised nearly $200 million despite admitting its tech might never work — and investors are still flocking to buy its stock, even as it hikes its IPO price and share count. While big names like IBM and Google race to build quantum computers that could revolutionize medicine and defense, none have yet delivered a commercially viable machine. The U.S. government is betting big too, pouring $2 billion into nine quantum firms — including Quantinuum’s $100 million share — to boost confidence. As the fourth quantum company to go public this year, Quantinuum is also the first to use the traditional IPO route, making its move a high-stakes test for the entire industry. Right now, investors aren’t betting on proven tech — they’re betting on the possibility.
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