Finland's IQM goes public at $1.8B, betting big on quantum – The Tech Buzz

Your premier source for technology news, insights, and analysis. Covering the latest in AI, startups, cybersecurity, and innovation.
Get the latest technology updates delivered straight to your inbox.
Send us a tip using our anonymous form.
Reach out to us on any subject.
© 2026 The Tech Buzz. All rights reserved.
Finland's IQM goes public at $1.8B, betting big on quantum
European quantum computing firm IQM targets public listing at $1.8B valuation
PUBLISHED: Mon, Feb 23, 2026, 1:13 PM UTC | UPDATED: Mon, Feb 23, 2026, 1:27 PM UTC
5 mins read
Finland's IQM Quantum Computers is going public at an $1.8 billion valuation, becoming one of Europe's first listed quantum computing firms according to CNBC
The listing represents a major milestone for European deep tech as quantum computing faces increased market skepticism about near-term commercialization
IQM's public debut comes as the quantum sector competes for capital against AI infrastructure, testing investor appetite for long-horizon hardware bets
The transaction could open the door for other European quantum startups to access public markets as an alternative to traditional VC funding
Finland's IQM Quantum Computers is positioning itself to become one of Europe's first publicly traded quantum computing companies, targeting an $1.8 billion valuation in a transaction that signals renewed investor confidence in the commercialization of quantum technology. The move comes as the quantum sector faces growing scrutiny over timelines to profitability, making IQM's public debut a critical test of whether markets believe practical quantum computing is finally within reach.
IQM Quantum Computers is making a bold bet that public markets are ready to embrace quantum computing's commercial potential. The Finnish quantum hardware company is moving forward with plans to list at an $1.8 billion valuation, according to CNBC, in what would mark one of Europe's first major quantum computing IPOs.
The timing is striking. Just as the quantum sector grapples with questions about when – or if – the technology will deliver on its decades-old promises, IQM is putting its chips on the table. The company has built its business around superconducting quantum processors, the same underlying architecture that powers systems from IBM and Google, but with a focus on modular, co-design approaches tailored to specific customer needs.
Founded in 2018 as a spinout from Finland's VTT Technical Research Centre and Aalto University, IQM has quietly built one of Europe's most ambitious quantum computing operations. The company has secured contracts with research institutions and government agencies across Europe, positioning itself as a strategic alternative to American and Chinese quantum providers at a time when technological sovereignty has become a priority for EU policymakers.
The $1.8 billion valuation puts IQM in rare company. While quantum computing has attracted billions in venture capital and government funding over the past five years, few companies in the sector have achieved valuations above $1 billion. The figure suggests investors see IQM as more than a research project – they're betting the company can deliver revenue-generating quantum systems in the near term.
But the path to public markets hasn't been smooth for deep tech hardware companies. The quantum sector watched closely as companies like Rigetti Computing went public via SPAC in 2021, only to see their valuations crater as investors grew impatient with the slow pace of commercialization. IQM will need to convince public market investors that it can avoid the same fate by demonstrating clear customer traction and a credible roadmap to profitability.
The European angle matters too. While the U.S. has dominated quantum computing development through massive investments by tech giants and well-funded startups, Europe has struggled to keep pace. IQM's listing could provide a blueprint for other European quantum companies looking to scale without relying solely on venture capital or government grants. It also reflects the EU's broader push to build sovereign capabilities in critical technologies, from semiconductors to artificial intelligence.
Industry watchers note that IQM's approach differs from competitors chasing universal quantum computers capable of running any algorithm. Instead, the company has focused on building application-specific quantum processors designed for particular use cases in fields like drug discovery, materials science, and optimization. This practical bent could appeal to investors tired of hearing about quantum's theoretical potential and eager to see real-world applications.
The quantum computing market remains tiny compared to classical computing, but projections suggest explosive growth if technical hurdles can be overcome. Analysts expect the sector to reach $8 billion to $10 billion by 2030, up from less than $1 billion today. The question is whether companies like IQM can bridge the gap between today's noisy, error-prone quantum systems and tomorrow's promised fault-tolerant machines capable of solving problems beyond the reach of conventional supercomputers.
For IQM, going public means accepting a new level of scrutiny. Public market investors will demand regular updates on technical milestones, customer wins, and financial performance. The company will need to balance the long-term nature of quantum development with the quarterly earnings expectations that come with being listed. It's a tightrope walk that has tripped up many hardware startups before.
The transaction also arrives as quantum computing faces a moment of reckoning. After years of hype and bold predictions, the industry is under pressure to show that quantum computers can do more than win benchmarking competitions. Recent demonstrations of quantum advantage in specific tasks have generated excitement, but skeptics question whether these proofs of concept will translate into commercially viable products.
IQM's public debut will test whether Europe can compete in the global race for quantum supremacy and whether investors believe the technology is ready to move from the lab to the market. If successful, the listing could unlock a wave of capital for European quantum startups and validate the continent's approach to building next-generation computing infrastructure. If it stumbles, it may reinforce doubts about quantum's near-term commercial viability and make it harder for other hardware startups to access public markets.
IQM's move to go public at $1.8 billion isn't just about one Finnish startup – it's a referendum on whether quantum computing is ready for prime time. The company is betting that public market discipline will accelerate rather than hinder its path to building commercially viable quantum systems. For Europe's deep tech ambitions, IQM's listing represents both validation and a high-stakes test case. If the company can deliver on its promises while navigating the demands of public investors, it could prove that European hardware startups can compete globally without becoming acquisition targets for American tech giants. But if the listing falters, it may confirm skeptics' views that quantum computing still needs more time in the lab before it's ready for Wall Street.
Feb 18
Feb 18
Feb 18
Feb 17
Feb 17
Feb 17

source
This is a newsfeed from leading technology publications. No additional editorial review has been performed before posting.