Honeywell (HON) Quantum Software Arm Expands, Boosting Quantum Computing Stocks

Jan 22, 2025

Honeywell's (HON, Financial) quantum software division, Quantinuum, has announced the establishment of a new research and development center in New Mexico. This news has led to a surge in U.S. quantum computing stocks. Quantinuum stated that the new center will focus on photonics technology, which is expected to advance trapped-ion quantum computing technology.

Rajeeb Hazra, President and CEO of Quantinuum, highlighted New Mexico as an ideal partner due to its vibrant tech ecosystem and skilled workforce aligning with the company's strategic goals. Previously, it was reported that Quantinuum would receive an $800 million investment, including $210 million from the state government, $220 million from the federal government, and $350 million from quantum companies investing in the state.

Following the announcement, Honeywell's stock rose by 1.1%. Other quantum computing stocks also experienced significant gains, with Arqit Quantum (ARQQ) up 9%, IonQ Inc (IONQ) and Quantum Computing (QUBT) nearly 17%, D-Wave Quantum (QBTS) over 19%, and Rigetti Computing (RGTI) soaring 42%.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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