Quantinuum is working with Morgan Stanley and JPMorgan Chase on plans for an initial public offering, according to people familiar with the matter. The quantum computing firm, formed from the merger of Cambridge Quantum and Honeywell's quantum unit, is positioning itself for a public listing as investor interest in the sector grows.

Bringing two of Wall Street's top investment banks into the fold signals a serious push toward the public markets. An IPO would provide capital to scale operations and fund expensive quantum hardware development, a capital-intensive race where private funding rounds are increasingly common.

Market observers will watch for the valuation target and timing, which could set a benchmark for other quantum startups. A successful offering would test whether public investors are ready to back the long-term commercial potential of quantum technology, which remains years from widespread profitability.