Singapore-based Horizon Quantum Computing just made quantum computing history, becoming the first private company to deploy a quantum computer for commercial use in the city-state. The milestone comes as the startup prepares for a $503 million Nasdaq listing and positions Singapore as Asia's quantum computing hub.
Horizon Quantum Computing just flipped the switch on Singapore's quantum future. The startup announced Wednesday that its quantum computer is now fully operational, making it the first private company to deploy commercial quantum computing in the city-state - and the first pure-play quantum software firm to own its own quantum hardware.
The timing isn't coincidental. CEO Joe Fitzsimons, who founded the company in 2018, is betting that owning hardware will accelerate software development ahead of the company's planned Nasdaq debut. "Our focus is on helping developers to start harnessing quantum computers to do real-world work," Fitzsimons told CNBC. "How do we take full advantage of these systems? How do we program them?"
The quantum computer integrates components from established players including Rigetti Computing, Maybell Quantum, and Quantum Machines. But Horizon's edge lies in the software stack - the tools and infrastructure that make quantum systems actually usable for real-world applications.
"Although we're very much focused on the software side, it's really important to understand how the stack works down to the physical level," Fitzsimons explained. That hands-on approach could prove crucial as quantum computing races toward practical applications in pharmaceuticals, finance, and other industries that need to simulate complex molecular interactions or run millions of risk scenarios.
The announcement arrives at a pivotal moment for quantum computing. Google executives told CNBC in March that practical quantum applications are just five years away, while Nvidia CEO Jensen Huang declared in June that quantum computing is hitting an "inflection point." Major tech giants including Microsoft, Amazon, and IBM are already pouring millions into the technology alongside government investments.
Horizon's hardware deployment comes ahead of its merger with dMY Squared Technology Group, a SPAC deal agreed upon in September that values the company at around $503 million. The transaction aims to take Horizon public on the Nasdaq under the ticker "HQ" by the first quarter of 2026, giving investors direct exposure to the quantum software market.
