Mentioned:
DMYY +3.46% IONQ -13.52% RGTI -14.53%

There’s a new quantum computing company coming soon to Wall Street. And they want to build the future of quantum software.

What’s happening:

  • Quantum computing software company Horizon Quantum Computing has entered into a business combination agreement with dMY Squared (NYSE: DMYY) to become a publicly traded company

By the numbers:‍

  • The SPAC transaction values Horizon Quantum Computing at roughly $503M USD

Why it matters:‍

  • Horizon Quantum Computing builds software that is hardware agnostic and enables software developers to build quantum apps without a deep technical understanding of quantum computing

Going deeper:‍

  • Horizon Quantum Computing has struck multiple partnerships with notable quantum computing companies, including Rigetti (NASDAQ: RGTI) and Intel (NASDAQ: INTC) backed startup Quantum Machines
  • dMY Squared is led by Harry You, who is a director at Broadcom (NASDAQ: AVGO) and was formerly a director at IonQ (NYSE: IONQ)