Honeywell completes breakup into four standalone companies

Quantinuum secured a finalized US$100 million CHIPS R&D award from the U.S. Department of Commerce to support trapped ion quantum computer manufacturing in the United States. The company also announced new collaborations with Quanta Computer and Oracle tied to its trapped ion quantum hardware. As part of the Oracle tie-up, Quantinuum will place its Helios quantum computer inside Oracle data centers to support quantum cloud computing access. Quantinuum, a quantum computing hardware and software specialist in the IT industry, has a market cap of about US$12.7b. The company said the CHIPS R&D award and Oracle data center placement support its push to integrate quantum systems with AI and high performance computing through partners such as Oracle and HPE, though heavy reported losses and the risk of delays around its Sol and Apollo systems remain open issues.

IonQ announced a real-time quantum error correction decoder that runs complex workloads without slowing quantum computations. The company reported new deployments at the NVIDIA Accelerated Quantum Research Center, integrating its hardware into NVIDIA's quantum research stack, and disclosed a partnership with SDT in South Korea to support quantum computing access for regional enterprises and researchers. IonQ said the decoder handles benchmark circuits with up to 408 logical qubits and more than 31.5 million quantum operations with just 0.02% added time, running on a single off-the-shelf CPU while the quantum system keeps operating. IonQ, a US semiconductor player valued at about $17.4b, builds quantum computing systems for clients in the United States, Switzerland, and other regions. Investors will watch how many Superion 256 deployments move from contract to installed and active systems at sites like NVIDIA's research center, FIU and SDT's data center from 2027.

Bank of America initiated coverage of IonQ on September 28 with a Buy rating and a $60 price target, calling the company the largest public pure-play quantum company by revenue. The call lands as IonQ reported $80.1 million of Q2 2026 revenue, up 287% year-over-year, its strongest quarter on record and a fifth consecutive quarter of record results, with organic revenue up 132%. Management raised full-year 2026 IonQ revenue guidance to $280 million to $290 million and maintained its expectation for approximately 100% organic growth, while remaining performance obligations reached $485 million, up from $122 million a year earlier. Following its $1.8 billion acquisition of SkyWater, IonQ said it received its first fully integrated quantum processing units from the foundry and plans to begin commissioning 256-qubit systems in 2027, and it announced Superion 256 deployments at Florida International University and NVIDIA's Accelerated Quantum Research Center. BofA also pointed to IonQ's semiconductor-enabled approach to scaling qubit counts and its expansion across quantum computing, communications and sensing.