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Investing.com -- Honeywell International Inc. (NASDAQ:HON) stock rose 1% Wednesday following a Bloomberg report that its quantum computing venture Quantinuum is exploring a fundraising round at a valuation of approximately $10 billion.
According to people familiar with the matter, Quantinuum is in discussions with existing investors and potential new backers about raising capital in the hundreds of millions of dollars. The reported $10 billion valuation would represent a significant increase from the $5 billion pre-money valuation achieved during its January 2024 funding round, when the company raised $300 million in a round led by JPMorgan Chase & Co. (NYSE:JPM)
Nvidia Corp . (NASDAQ:NVDA), the semiconductor giant, is reportedly among the companies approached about potentially investing in Quantinuum, though deliberations are ongoing with no certainty of reaching an agreement.
Quantinuum was formed in 2021 through the merger of Cambridge Quantum and Honeywell Quantum Solutions.
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