Quantum Computing Stocks Tumble as Xanadu Announces U.S. Listing Plans
Shares of leading quantum computing firms IonQ Inc., Rigetti Computing, D-Wave Quantum, and Quantum Computing plummeted on November 3 following Canadian rival Xanadu's disclosure of its intention to pursue a Nasdaq listing via a $3.6 billion SPAC merger. The photonic quantum specialist plans to go public in early 2026 through a combination with blank-check company Crane Harbor Acquisition Corp., potentially raising $500 million in the process.
Xanadu's room-temperature photonic technology presents a stark contrast to existing approaches—IonQ's trapped ions, Rigetti's superconducting qubits requiring cryogenic cooling, and D-Wave's quantum annealing method. The company touts manufacturing scalability and operational efficiency as key differentiators that could reshape the competitive landscape.
