Xanadu set for market debut as quantum computing stocks struggle in 2026 - MSN

Canada's Xanadu Quantum TechnologiesXNDU is expected to start trading as a public company on Friday. Quantum computing stocks have underperformed in 2026 even as more companies go public via mergers with a special purpose acquisition company. SPACs, also called  blank-check vehicles, raise money in an initial public offering with the purpose of purchasing companies. Xanadu recently merged with Crane Harbor Acquisition Corp.CHAC InfleqtionINFQ in February went public via a SPAC deal with Churchill Capital Corp X. Shares in Colorado-headquartered Infleqtion rose on its first day of retreating but then retreated. Also, Singapore-based quantum software firm Horizon Quantum Computing recently merged with dMY Squared Technology, also a SPAC. Going public via a SPAC merger enables quantum computing firms to raise capital, bypassing an initial public offering. The companies usually have minimal revenue, which mostly comes from governments and university research. IonQIONQ, Rigetti ComputingRGTI and D-Wave QuantumQBTS went public via the SPAC route in 2021 and 2022. In Europe, Finland's IQM and France-based Pasqal recently announced SPAC mergers.