Mentioned:
A new quantum computing company is coming to Wall Street. And they’ve already cut deals with some of the largest technology companies and government agencies in America.
What’s happening:
- Quantum computing company Infleqtion has entered into a business combination with Churchill Capital Corp X (NASDAQ: CCCX) to become a publicly traded company
By the numbers:
- The new SPAC deal will provide Infleqtion with $540M USD in new growth capital, with $416M USD coming from Churchill Capital Corp X and more than $125M USD coming from a concurrent financing round
- The SPAC deal gives Infleqtion a pre-money valuation of approximately $1.8B USD
Why it matters:
- Infleqtion is one of the most advanced companies developing neutral atom-based quantum computers and software and has landed meaningful contracts with Nvidia (NASDAQ: NVDA), NASA and the Department of Defense
Going deeper:
- Morgan Stanley’s Counterpoint Global was a lead investor in Infleqtion’s Series C financing round and will also participate in the new concurrent funding round alongside of the SPAC deal
