IQM Quantum Computers has become the first European quantum computing company to list on a major U.S. stock exchange after completing its business combination with Real Asset Acquisition Corp.
The company’s American Depositary Shares began trading on the Nasdaq Global Select Market under the ticker NASDAQ: IQMX. IQM said the transaction leaves it with a pro forma cash position of approximately €337 million to support product development and global expansion.
The listing comes as quantum computing companies seek fresh capital to commercialize technologies that remain in the early stages of adoption but are attracting growing interest from governments, research institutions and enterprises.
Founded in Finland, IQM develops superconducting quantum computers and supplies complete systems that combine quantum processors, control electronics and software. Its customers include universities, research organizations, supercomputing centres and national laboratories.
The company said it has delivered 23 quantum computers worldwide. Its systems are installed at Italy’s CINECA supercomputing centre, Germany’s Leibniz Supercomputing Center (LRZ) and the U.S. Department of Energy’s Oak Ridge National Laboratory (ORNL).
IQM has also expanded its international footprint over the past year. It recently opened a Quantum Technology Center in Maryland to support customers in North America. In Japan, Toyo Corporation agreed to purchase an IQM system, marking the company’s first enterprise quantum computer sale in the country.
The company said it will continue investing in its superconducting quantum platform, with a focus on processor performance, control systems and software. It recently unveiled a quantum error-correction approach aimed at reducing the hardware required to build fault-tolerant quantum computers, a key challenge facing the industry.
The listing comes at a time when countries are increasing investment in quantum technologies as part of broader efforts to strengthen domestic computing capabilities. Quantum computing is expected to support applications in areas such as materials research, drug discovery, logistics, cybersecurity and artificial intelligence, although most commercial use cases are still under development.
Competition in the sector has intensified as startups and established technology companies race to improve system performance and bring commercially viable quantum computers to market. Companies are also investing in software, developer tools and quantum infrastructure to expand adoption beyond research laboratories.
For IQM, access to U.S. capital markets provides additional financial resources as it seeks to expand manufacturing capacity, increase customer deployments and compete in a rapidly evolving industry.
