Quantum Computing Inc. (QCi) has secured a major financial boost to accelerate its position at the intersection of quantum computing and artificial intelligence. The Nasdaq-listed company (QUBT) announced on June 23 that it has entered into securities purchase agreements with institutional investors for a private placement of 14,035,089 shares of common stock at $14.25 per share.
The $200 million capital raise, with Titan Partners Group acting as the sole placement agent, is expected to close around June 24, 2025, subject to customary closing conditions. This investment will increase QCi's total cash position to over $350 million, providing substantial resources for its ambitious growth plans.
QCi intends to use the proceeds to accelerate commercialization efforts for its integrated photonics and quantum optics technologies, pursue strategic acquisitions, augment working capital, and address general corporate purposes. The company specializes in developing accessible, room-temperature quantum machines applicable to high-performance computing, artificial intelligence, cybersecurity, and remote sensing applications.
A cornerstone of QCi's technology portfolio is its Dirac-3 quantum optimization machine, which uses nonlinear quantum optics to solve complex problems with large numbers of variables. Unlike traditional quantum computers that use qubits, Dirac-3 employs quantum digits (qdits) with 200 discrete modes, expanding its capabilities for AI-related applications. The system has already attracted partnerships with organizations like NASA, Los Alamos National Laboratory, and the Sanders Tri-Institutional Therapeutics Discovery Institute for applications ranging from space-based imaging to drug discovery.
QCi recently completed construction of its Quantum Photonic Chip Foundry in Tempe, Arizona, a significant milestone that positions the company to meet growing demand for thin film lithium niobate (TFLN) photonic chips. This technology promises substantial performance advantages and energy cost savings across applications in photonic-based quantum computing, defense, artificial intelligence, and data center connectivity.
The investment represents growing confidence in quantum-AI integration technologies, which are increasingly seen as critical for next-generation computing capabilities that can address previously intractable problems in fields ranging from materials science to financial modeling.