Horizon Quantum's Merger with dMY to Accelerate Quantum Computing Progress
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 05 2026
0mins
Should l Buy HQ?
"Rapid advancement in quantum computing hardware coupled with recent breakthroughs in error correction may suggest the field is reaching an inflection point, with quantum advantage drawing nearer. We believe that the successful completion of our business combination with dMY Squared Technology Group, Inc., will allow us to significantly accelerate progress in building the software infrastructure to power quantum applications. We anticipate that the business combination has provided us with the financial runway required to support our strategic priorities for the foreseeable future, while enabling increased investments in R&D, allowing us to advance our integrated development environment, Triple Alpha, and push towards quantum advantage with the extension of our testbed. Together, we believe these initiatives will significantly strengthen our ability to unlock the full potential of quantum computing, positioning us to develop and grow revenue as the industry drives towards quantum advantage," said Horizon Quantum CEO and Founder Dr. Joe Fitzsimons.
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About HQ
Horizon Quantum Holdings Ltd is a Singapore-based building software infrastructure company. The Company's integrated development environment, Triple Alpha, enables developers to write hardware-agnostic quantum programs at multiple levels of abstraction. The Company’s technology includes software infrastructure, development infrastructure, deployment infrastructure, execution infrastructure, quantum systems and integration, supported quantum systems, and hardware testbed. Its deployment infrastructure enables quantum processing within real-world applications. Its execution infrastructure is designed to run complex programs with general control flow. Through its software infrastructure, the company enables users to deploy their quantum applications across more than 30 backends, including a range of processors and simulators from manufacturers such as IBM, IonQ, AQT, AWS, Rigetti, and OQC.
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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- Horizon Quantum Software Strategy: Horizon went public on March 20, 2026, raising approximately $120 million, focusing on quantum computing software; although it reported no revenue in Q1 and an operating loss of $6.5 million, its Triple Alpha platform could capture significant market share in the future.
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- Webcast Availability: The conference call will be webcast live on the company's investor website, facilitating global investor participation and enhancing information accessibility and interactivity.
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See More
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- Strategic Collaboration: Horizon Quantum has announced a strategic partnership with AQT to integrate Horizon's software infrastructure with AQT's trapped-ion quantum computing systems, aiming to accelerate the development of real-world quantum applications and enhance users' capabilities in building quantum solutions.
- Technology Integration: The combination of Horizon's Triple Alpha development environment with AQT's high-fidelity quantum processors enables developers to access hardware at multiple levels of abstraction, which is expected to improve the scalability and reliability of quantum computing.
- Market Potential: Horizon Quantum's CEO stated that this collaboration will provide Triple Alpha users with access to AQT's processors, broadening hardware options and addressing complex computational problems, thereby enhancing competitive positioning in the market.
- R&D Acceleration: Following its recent listing on Nasdaq, Horizon Quantum aims to leverage this collaboration with AQT to accelerate the research and development of Triple Alpha, enhancing its technological edge and market position in the quantum computing sector.
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- SpaceX IPO Outlook: SpaceX is reportedly seeking a valuation of up to $1.75 trillion, driven by its rapidly growing Starlink satellite internet and reusable rocket systems, indicating strong market potential that could attract significant investor interest.
- Infleqtion Funding Success: Infleqtion raised over $550 million through a SPAC merger with Churchill Capital Corp X, strengthening its balance sheet to support future growth in quantum computing, with projected revenues of around $40 million in fiscal 2026.
- Horizon Quantum Software Development: Horizon Quantum secured approximately $120 million through a SPAC merger with dMY Squared Technology Group, focusing on developing programming tools for quantum applications, which, despite currently having no revenue, could position it as a key software infrastructure player in the quantum ecosystem.
- Xanadu Quantum Technology Advances: Xanadu raised about $302 million through a merger with Crane Harbor Acquisition Corp, focusing on photonic quantum computing and aiming to build systems with up to 500 logical qubits by 2030, although it continues to report losses, its advancements may establish it as a significant industry player in the next decade.
See More
Surge of Quantum Computing IPOs in 2026
- Xanadu Quantum Technologies: Xanadu went public on March 27 as the first publicly traded photonic quantum computing company, achieving $4.6 million in revenue for 2025, a 188% year-over-year increase, although it still reported a $69.3 million operating loss; however, the $302 million raised in its IPO will sustain operations and support sales growth.
- Infleqtion's Neutral Atom Technology: Infleqtion went public on February 17, raising over $550 million, with 2025 revenue of $32.5 million expected to grow to $40 million in 2026; despite an operating loss of $35.3 million, its improved cost management indicates potential for profitability.
- Horizon Quantum's Software Strategy: Horizon went public on March 20, raising approximately $120 million, focusing on quantum computing software; while it did not generate revenue in Q1, its Triple Alpha platform is currently being tested, positioning it to potentially lead the market.
- Quantum Computing Market Outlook: As quantum computing technology evolves, the three companies are pursuing different technological paths; despite current unprofitability, their innovative approaches and market demand suggest significant growth potential, attracting investor interest.
See More
Surge of Quantum Computing IPOs in 2026
- Xanadu Quantum Technologies IPO: Xanadu went public on March 27, 2026, as the first pure-play photonic quantum computing firm, achieving $4.6 million in revenue for 2025, a 188% year-over-year increase, yet facing an operating loss of $69.3 million; the $302 million raised from the IPO will support its growth.
- Infleqtion's Neutral Atom Technology: Infleqtion debuted on February 17, 2026, raising over $550 million, with projected revenue growth from $32.5 million in 2025 to $40 million in 2026; despite a $35.3 million loss in 2025, its improved cost management indicates potential profitability.
- Horizon Quantum Software Strategy: Horizon went public on March 20, 2026, raising approximately $120 million, focusing on quantum computing software; although it reported no revenue in Q1 and an operating loss of $6.5 million, its Triple Alpha platform could capture significant market share in the future.
- Quantum Computing Market Outlook: As quantum computing technology evolves, these three companies are pursuing different technological paths; despite current unprofitability, their successful IPOs have attracted investor interest, signaling potential growth opportunities in the quantum computing sector.
See More
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- Earnings Release Announcement: Horizon Quantum Holdings Ltd. anticipates releasing its financial results for the quarter ended March 31, 2026, on May 5, 2026, before market open, reflecting the company's commitment to transparency and investor communication.
- Conference Call Details: The company will host a conference call at 8:00 AM Eastern Time on the same day to discuss its results and business outlook, indicating its dedication to maintaining close ties with investors and providing real-time information.
- Webcast Availability: The conference call will be webcast live on the company's investor website, facilitating global investor participation and enhancing information accessibility and interactivity.
- Cautionary Note on Forward-Looking Statements: The press release includes a cautionary note regarding forward-looking statements, alerting investors to potential risks and uncertainties, which underscores the company's cautious approach to future performance.
See More
Horizon and AQT Collaborate to Advance Quantum Computing
- Strategic Collaboration: Horizon Quantum has announced a strategic partnership with AQT to integrate Horizon's software infrastructure with AQT's trapped-ion quantum computing systems, aiming to accelerate the development of real-world quantum applications and enhance users' capabilities in building quantum solutions.
- Technology Integration: The combination of Horizon's Triple Alpha development environment with AQT's high-fidelity quantum processors enables developers to access hardware at multiple levels of abstraction, which is expected to improve the scalability and reliability of quantum computing.
- Market Potential: Horizon Quantum's CEO stated that this collaboration will provide Triple Alpha users with access to AQT's processors, broadening hardware options and addressing complex computational problems, thereby enhancing competitive positioning in the market.
- R&D Acceleration: Following its recent listing on Nasdaq, Horizon Quantum aims to leverage this collaboration with AQT to accelerate the research and development of Triple Alpha, enhancing its technological edge and market position in the quantum computing sector.
See More
HORIZON QUANTUM HOLDINGS LTD TO ENHANCE QUANTUM HARDWARE TESTBED WITH ADDITION OF SECOND MODALITY
Company Expansion: Horizon Quantum Holdings Ltd is set to expand its operations in the quantum hardware sector.
Testing with Second Modality: The company will conduct tests utilizing a second modality to enhance its quantum hardware capabilities.
See More
