Department of Energy's ORNL Launches IQM Quantum Computer
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5 days ago
0mins
The Department of Energy's Oak Ridge National Laboratory, or ORNL, launched Pathfinder, the first commercially procured quantum computer at ORNL, built and deployed by IQM Quantum Computers. The 20-qubit IQM Radiance system marks IQM's first quantum computer installation in the United States. The deployment comes ahead of IQM's planned listing on Nasdaq through its business combination with Real Asset Acquisition, expected to close in mid-2026.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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See More
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See More
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See More
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See More
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- Advancing IPO Plans: Driven by increased investor demand, IQM has upsized its PIPE commitments and plans to go public through a merger with Real Asset Acquisition Corp., marking its position as the first European quantum company to list on the Nasdaq in the U.S.
See More
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- Executive Appointments: IQM Quantum Computers has appointed Craig Ciesla as Chief Technology Officer and Inés de Vega as Chief Scientist, aiming to strengthen the company's technological leadership in preparation for its upcoming Nasdaq listing.
- Technology Strategy Advancement: With over 25 years of experience in deep tech, Ciesla will be responsible for driving the implementation of IQM's technology strategy, playing a crucial role in accelerating the development of fault-tolerant quantum computing.
- Market Leadership: Having sold 23 quantum computers, IQM has established itself as a leader in superconducting quantum computing, and Ciesla's addition is expected to further solidify its market position in high-performance computing.
- Funding Progress: As the merger with Real Asset Acquisition Corp. advances, IQM successfully completed a $146 million PIPE financing in June, reflecting strong market confidence in its future growth.
See More
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- Increased Enterprise Engagement: The 'State of Quantum 2026' report reveals that 89% of surveyed enterprises are engaged in quantum computing, yet only 3% have achieved scaled deployment, indicating a shift from access to capability building, necessitating faster transformation to maintain competitiveness.
- Quantum Readiness Index: The report introduces the Quantum Readiness Index, with a global average score of 58, placing it in the 'Developing' tier, suggesting that while hiring and budgeting are progressing, proprietary output and scaled deployment remain lacking, highlighting the need for technological accumulation to face future challenges.
- Changing Investment Trends: Quantum computing attracted $8.3 billion in investment in 2025, nearly five times the previous year, indicating a market shift towards valuing verifiable milestones over mere ambition, compelling companies to demonstrate actual results to attract capital rather than relying solely on vision.
- Skills Shortage Issue: Over 66% of large enterprises and universities cite skills shortages as a primary barrier to quantum computing development, emphasizing that organizations must begin talent development immediately to secure a competitive edge in the future quantum computing market.
See More
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- Capital Markets Day Highlights: At its inaugural Capital Markets Day held at Nasdaq, IQM showcased its growth strategy, technology roadmap, and commercial vision, capturing the attention of investors and industry stakeholders, which is expected to accelerate global adoption of quantum computing.
- Sales Achievement: Having sold 23 quantum computers to date, IQM stands as the leading manufacturer in sales volume, a milestone that not only enhances the company's market position but also strengthens its competitive edge in the rapidly evolving quantum computing sector.
- Business Combination Plan: IQM has entered into a definitive business combination agreement with RAAQ, anticipated to close in mid-2026, at which point IQM plans to list on the Nasdaq Global Market, further amplifying its influence in the capital markets.
- Technological Leadership: IQM's full-stack superconducting quantum computers provide direct infrastructure control to research institutions and high-performance computing centers, which is expected to bolster its technological leadership in the global quantum computing arena, addressing the increasing market demand.
See More
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- Quantum Computer Deployment: IQM's 20-qubit Radiance system is now operational at the Oak Ridge National Laboratory (ORNL), marking IQM's first commercial quantum computer installation in the U.S., which directly enhances ORNL's research capabilities in quantum science.
- High-Performance Computing Integration: The Pathfinder system is connected to ORNL's high-performance computing environment, where ORNL researchers will develop methods and tools for a hybrid quantum-HPC ecosystem, thereby accelerating research applications in materials simulations, chemistry, and artificial intelligence.
- Market Expansion Strategy: IQM has sold 23 full-stack quantum systems globally, making it the leading manufacturer in terms of on-premises systems, and this deployment further solidifies its commercial footprint in North America while paving the way for its upcoming Nasdaq listing.
- Local Economic Boost: The partnership between IQM and ORNL is seen as a significant milestone in strengthening Tennessee's leadership in quantum science and emerging technologies, with expectations for breakthroughs that will enhance national security and economic competitiveness.
See More
IQM Appoints New Board Member to Support Nasdaq Listing
- New Board Member: IQM Quantum Computers has appointed Barbara Venneman to its Board of Directors, enhancing the board's expertise in global business expansion with her over 30 years of experience in digital transformation and enterprise technology.
- Commercialization Expertise: Venneman's addition is expected to aid IQM in the commercialization of its superconducting quantum computing technology, thereby boosting the company's competitiveness and influence in the global market.
- Founder Representative Change: CEO and Co-founder Jan Goetz will replace Co-founder Juha Vartiainen as the Founder representative on the board, a move aimed at strengthening corporate governance and improving decision-making efficiency.
- Listing Preparation: As IQM prepares for its Nasdaq listing, the board's professional background and strategic adjustments are set to provide stronger support for the company's future growth, reinforcing its leadership position in the quantum computing market.
See More
IQM Quantum Computers Unveils New Technology
- Quantum Error Correction Breakthrough: IQM's barbell codes achieve up to three orders of magnitude lower logical error rates while requiring up to eight times fewer physical qubits, significantly enhancing scalability and fault tolerance in quantum computing.
- Reduced Hardware Complexity: The new technology maintains high performance while dramatically lowering hardware complexity, addressing the reliance on complex hardware in previous quantum error correction methods, thus providing a more feasible solution for practical applications.
- Sales Leadership in Quantum Systems: IQM has sold more quantum systems than any other manufacturer and plans to deploy 150-qubit systems to customers later this year, further solidifying its market leadership position.
- Advancing IPO Plans: Driven by increased investor demand, IQM has upsized its PIPE commitments and plans to go public through a merger with Real Asset Acquisition Corp., marking its position as the first European quantum company to list on the Nasdaq in the U.S.
See More
