Nvidia’s venture arm invests in Honeywell’s Quantinuum

(Bloomberg/Liana Baker and Kiel Porter) — Nvidia Corp.’s venture capital arm is investing in Quantinuum for the first time, valuing the quantum computing company controlled by Honeywell International Inc. at $10 billion.

Nvidia is the latest big-name backer to join the ranks of Quantinuum’s investor roster through a $600 million funding round, according to a statement on Thursday that confirmed an earlier Bloomberg News report.

Jensen Huang, Nvidia’s chief executive officer, this year reset his forecast for quantum computing, saying in June that the technology is reaching an inflection point and is becoming a practical computing technique sooner than previously expected.

Nvidia now provides software that will help its chips work with quantum devices, positioning the company to take advantage of advances that could disrupt its dominance of computing and data centers. Quantum computing will be powerful enough in the coming years to help “solve some interesting problems” globally, Huang said. He said Nvidia’s entire quantum algorithm stack will be available and accelerated on its Grace Blackwell 200 chip.

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Quantinuum is already a partner with Nvidia on that company’s Accelerated Quantum Research Center, a facility in Boston designed to advance the technology.

Honeywell, which owns about 54% of Quantinuum, is also participating in the fundraising, alongside QED Investors, JPMorgan Chase & Co., Mitsui & Co. and Amgen Inc. The statement didn’t provide details on what portion of the $600 million round is being invested by Nvidia’s venture arm, which is part of the company’s wide-ranging investments in AI.

Other new investors in Broomfield, Colorado-based Quantinuum include venture capital firm Mesh and Korea Investment Partners.

“Quantinuum continues to meet and exceed our stated objectives — strategically, technically and commercially,” Honeywell Chief Executive Officer Vimal Kapur said in the statement. “We have complete confidence in Quantinuum’s ability to continue to lead the quantum revolution and create long-term value for its investors and customers.”

Quantinuum disclosed last week in a filing that 35 unnamed investors had participated in a funding round, which confirmed a previous Bloomberg News report.

Led by Chief Executive Officer Rajeeb Hazra, Quantinuum develops powerful so-called quantum computers capable of solving complex tasks that are beyond the abilities of traditional computing. Quantum computers are designed to process information faster than regular computers since they can calculate in parallel rather than sequentially.

Quantinuum is developing platforms to be used in fields such as chemistry, machine learning, cybersecurity, finance and drug discovery.

The company was formed in 2021 by the merger of Cambridge Quantum and Honeywell Quantum Solutions. In January 2024, Quantinuum closed a $300 million funding round led by JPMorgan at a pre-money valuation of $5 billion, according to a statement at the time. It has more than 500 employees spread across the US, the UK, Germany and Japan.

In February, Honeywell announced the latest leg of a plan that will see it split into separate publicly traded companies focused on aerospace, automation and advanced materials. Honeywell’s Kapur said in an earnings call in July that Quantinuum’s planned fundraising would capitalize the business in preparation for spinning it off in an initial public offering, perhaps in 2027.

–With assistance from Ian King.

(Updates throughout with confirmation.)

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