IQM becomes the first European quantum company listed on Nasdaq
The Finnish maker of superconducting quantum computers went public on 2 July 2026 through a merger with a listed shell company.
IQM Quantum Computers began trading on Nasdaq on 2 July 2026, becoming the first European quantum computing company on a major US exchange. It went public via a business combination with Real Asset Acquisition Corp, at a valuation of about $1.9 billion.
Why it matters
Public markets reward revenue and customers, while much of the value in quantum is built earlier, in error correction and manufacturing. The listing is an early test of how these markets will price European quantum firms.
Key takeaways
- IQM trades on the Nasdaq Global Select Market under the ticker IQMX, and its shares were also approved for Nasdaq Helsinki.
- It went public through a merger with Real Asset Acquisition Corp, at a post-combination valuation of about $1.9 billion.
- IQM reported an installed base of 23 quantum computers.
- In a LinkedIn analysis, Cecile Perrault argues Europe must offer quantum firms early markets, patient capital and shared infrastructure, not only R&D funding.
On 2 July 2026, IQM Quantum Computers started trading on Nasdaq, becoming the first European quantum computing company listed on a major US exchange. Rather than a traditional IPO, IQM went public through a business combination with Real Asset Acquisition Corp, a listed shell company, at a valuation of about $1.9 billion. The shares trade under the ticker IQMX and were also cleared for Nasdaq Helsinki.
IQM, which builds superconducting quantum computers, entered the market with an installed base of 23 machines.
The listing was flagged and analysed on LinkedIn by Cecile Perrault, who reads it as a useful test: public markets tend to look for revenue and customers, an incomplete lens for quantum, where key milestones (error correction, manufacturing reliability) come before revenue. Her point is that Europe needs to offer more than R&D grants, namely early markets, patient capital and shared infrastructure.
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