Mentioned:
NVDA -6.20%
A European company building next generation superconducting quantum computers has a new ambition: Wall Street.
What’s happening:
- Finland based quantum computing company IQM has entered into a business combination with Real Asset Acquisition Corp (NASDAQ: RAAQ) to become a publicly traded company
By the numbers:
- The new SPAC deal gives IQM aa pre-money valuation of approximately $1.8B USD
- Upon the successful completion of the business combination, IQM is expected to have access to roughly $450M USD in new growth capital
Why it matters:
- This is the first time ever that a quantum computing company founded in Europe will become a publicly traded company on a major stock exchange in the United States of America a
Going deeper:
- IQM has sold their superconducting quantum computers to some of the most prominent supercomputing research labs in the world, including the Oak Ridge National Laboratory
- IQM also has already established integrations with leading high performance computing companies for hybrid quantum-classical workloads, including Nvidia (NASDAQ: NVDA) and Amazon Web Services
