Prime Highlights:
- Horizon Quantum becomes the first private company in Singapore to operate a commercial quantum computer, marking a major milestone in the country’s tech sector.
- The company aims to help developers use quantum computers for real-world applications, including medicine, finance, and logistics.
Key Facts:
- Singapore’s National Quantum Strategy has allocated S$300 million over five years to grow the quantum sector, including building local quantum processors.
- Horizon Quantum plans to go public on Nasdaq under the ticker “HQ,” with the deal valued at around $503 million and expected to close in early 2026.
Background:
Singapore software company Horizon Quantum is the first private firm in the country to operate a commercial quantum computer, a big step for Singapore’s technology sector.
Founded in 2018 by quantum researcher Joe Fitzsimons, Horizon Quantum announced on Wednesday that its quantum computer is now fully operational. The system uses parts from well-known suppliers like Maybell Quantum, Quantum Machines, and Rigetti Computing.
Horizon Quantum mainly focuses on quantum software, so this is the first time a software-only quantum company has set up its own quantum computer. This lets developers test and build real-world quantum applications in areas like medicine, finance, and logistics.
Fitzsimons said the company aims to help developers use quantum computers for practical tasks and added that having their own test system helps them understand how it works.
Quantum computers can tackle problems regular computers can’t, like new drug testing or financial analysis. The technology is new, but big companies are investing, and it may be useful within five years.
Horizon Quantum’s announcement comes ahead of its planned merger with dMY Squared Technology Group Inc., which will take the company public on Nasdaq under the ticker “HQ.” The deal, valued at around $503 million, is expected to close in early 2026.
The launch also supports Singapore’s ambition to become a regional hub for quantum computing. Singapore’s National Quantum Strategy, announced in 2024, plans to spend S$300 million over five years to grow the quantum sector, including making local quantum processors.
