To The Moon

Another New Kid On The Block ?

Is Quantinuum another quantum computing company, a new kid on the block that is going to IPO on US stock exchange soon ?

On Thu, 04 Sep 2025, it was reported that Honeywell International's (HON) - Quantinuum announced a $600 million funding round.

This time round, $NVIDIA(NVDA)$ is among the new investors.

This announcement sent existing listed quantum computing stocks up. (see below)

On Thursday, quantum computing stocks IONQ Inc, $Quantum Computing Inc.(QUBT)$ and $Rigetti Computing(RGTI)$, all advanced, except for $D-Wave Quantum Inc.(QBTS)$ that fell marginally. (see below)

As of Thu, 04 Sep 2025

Meanwhile, HON dipped a fraction to $212.97, while NVDA ended Thursday ‘flat’ at $171.66.

Quantinuum’s Investors.

The new funding round put Quantinuum's valuation at $10 billion, double from early 2024.

Aside from Nvidia's venture capital arm, new investors included:

• Quanta Computer.

• QED Investors.

• NVentures.

In its previous round of funds raising, investors included:

• JP Morgan Chase (JPM).

• Amgen (AMGN).

• Mitsui & Co.

Quantum Story so far…

Quantum computing stocks have been volatile in 2025, amid controversy over how soon commercially viable quantum technology will become available.

In January 2025, at the CES conference NVDA CEO, Jensen Huang dismissed quantum computing as something that won't be very useful for 15 to 30 years.

Barely 2 months later in March 2025, at the Nvidia GTC conference, Huang feigned ‘surprise’ about his impact on quantum stocks after his January’s supposedly casual remarks.

This time round, he sung a different tune, and was upbeat about quantum computing's outlook.

In May 2025, Quantinuum announced a deal with Qatar's Al Rabban Capital in what officials said could be a $1 billion joint venture over the next 10 years.

Quantinnum - Once Upon A Time…

Back in 2021, Honeywell merged its Quantum Solutions business with Cambridge Quantum, forming — Quantinuum.

Quantinuum uses "trapped-ion" in their quantum computing technology quest. Currently, the other company using the same approach is listed quantum stock — $IONQ Inc.(IONQ)$.

Honeywell remains the majority shareholder in Quantinuum, owning 52% of shares and has stated (back in 2021), it expects Quantinuum to reach new technical milestones in 2025 and 2026 on its way to an eventual initial public offering (IPO).

What Is HON All About ?

Honeywell was founded in 1885 when inventor Albert M. Butz created a furnace regulator, marking the start of the company that would become Honeywell.

As of 2025, Honeywell is about 140 years old.

Honeywell (ticker: HON) is a large American publicly traded multinational conglomerate (MNC) company.

Its main business operates in 4 segments:

1. Aerospace Technologies – supplying avionics, aircraft engines, flight systems, and space products to manufacturers, airlines, militaries, and space programs.

2. Building Automation – providing products and software for building control, security, fire safety, and energy efficiency.

3. Safety and Productivity Solutions – offering scanning, sensing, industrial safety, and productivity enhancement technologies.

4. Performance Materials and Technologies – includes specialty chemicals, advanced materials, process technology for oil and gas refining, and electronic materials.

On 06 Feb 2025, HON announced plans to split into 3 companies with focus (1) Automation, (2) Aerospace, and (3) Advanced Materials, reflecting its broad industrial scope.

The first spin-off would be Advanced Materials, expected to be completed by year end or early 2026.

This would be followed by the separation of Automation and Aerospace businesses, slated to be completed in H2 2026.

In brief, Honeywell is a diversified industrial technology company that serves aerospace, building automation, industrial, and materials sectors globally

Q2 2025 Earnings.

On 24 Jul 2025, HON reported its Q2 2025 earnings.

Comparing against estimates by LSEG:

• Earnings per share (adjusted): was $2.75 per share vs consensus expectations of $2.64 vs Q2 2024’s $2.49; that’s a +10.44% YoY increase. (see below)

• Revenue: was $10.35 billion vs analysts’ expectations of $10.02 billion vs Q2 2024’s $9.57 billion, that’s a +8.15% YoY gain.

Contributions from its 4 business segments were as follows:

1. Aerospace Technologies – revenue was $4.31 billion, up +11% YoY.

2. Building Automation – revenues totaled $1.83 billion, up +16% YoY.

3. Energy and Sustainability - revenue was $1.84 billion, an increased of +15% YoY.

4. Industrial Automation - revenue declined to $2.38 billion, a decrease of -5% YoY.

Investment Valuation.

Is HON a stock that brings value to one’s investment holdings ?

Honeywell (HON) is generally considered a strong company with several positive attributes as a stock to hold.

Key plus points include:

• Consistent Earnings Outperformance: HON’s recent Q2 2025 earnings exceeded analyst expectations by more than +8% easily. The company has maintained strong organic sales growth of around +5% and segment profit growth of +8% YoY.

• Solid Financial Health: Honeywell has a market capitalization of $136.60 billion and a Beta of 1.05,

  a good overall financial health score.

• It has paid dividends for 41 consecutive years with a current yield near 1.9%.

• Positive Growth Outlook: HON has raised its full-year organic sales growth guidance to 4-5% and expects adjusted profit per share for 2025 to be between $10.45 - $10.65, higher than previous forecasts.

• Strong Backlog and Cash Flow: HON has a reported an order backlog of $36.6 billion and generated $1 billion in free cash flow in Q2 2025, signaling healthy business momentum.

If an investor has a vested interest in HON, the returns would be: (see above)

• +2.64% if invested 6 months ago.

• +4.69% if invested 12 months ago.

• +15.93% if invested 36 months (3 years) ago.

• +29.08% if invested 60 months (5 years) ago.

Quantum Saturation ?

In the current quantum computing landscape, there are only around 20 to 30 noteworthy companies globally, with a mix of :

• Pure-play quantum technology firms, that focus on quantum hardware or software. This includes IONQ, RGTI, QBTS, QUBT and of course HON’s Quantinuum.

• Large IT giants engaged in the space includes IBM, GOOG, INTC, AMZN and MSFT — each heavily invested in quantum research as part of broader diversified operations.

NVDA on the other hand, focuses on quantum software, system integration, and acceleration rather than building quantum chips themselves. while supporting ecosystem growth through research centers and investments

Even with HON’s Quantinuum possibly becoming a listed company, the global quantum computing market is still far from saturated.

Globally, the number of fully operational quantum computers are around 100 - 200 functional systems.

Many firms are still in early research or scaling phases.

Quantum computing industry remains in a relatively early stage with large untapped opportunity.

It is a fast-evolving ecosystem where (a) diversification, (b) technological progress, and (c) commercial traction will shape market winners over the coming decade.

The only question investors should ask themselves is - Are you in or are you out ?

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• Do you think Quantinuum is a “safe bet” (with HON its support) should it decide to IPO?

• Do you think it’s more prudent to hold off jumping headlong into Quantinuum until the coast is clearer?

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