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Editorial
IonQ / SkyWater Deal Could Be in Danger
IonQ's plan to build quantum computers at scale depends on a manufacturing facility it hasn't closed on yet, and federal regulators are…
FTC Is Reviewing IonQ's $1.8B SkyWater Deal, and the Stock Payment to SkyWater Shareholders Is Already Worth Less
The FTC sent both IonQ and SkyWater a formal information request on April 24, extending the regulatory review and putting the planned Q2/Q3 2026 close at risk. The deal pays…
SkyWater is not just an acquisition target, it is the entire manufacturing plan. IonQ needs SkyWater's semiconductor fabrication facility to build its next-generation chip-based quantum systems in-house rather than depending…
SkyWater shareholders are being asked to wait on a government review while the stock component of what they are owed gets smaller every month, that is not a routine regulatory…
IonQ/SkyWater deal announcement, $1.8B value, January 26, 2026: https://www.sec.gov/Archives/edgar/data/1819974/000119312526021614/d20158d425.htm IonQ stock down 26.1% in June 2026: https://www.fool.com/investing/2026/07/03/why-ionq-stock-plummeted-261-in-june/ Merger agreement dated January 25, 2026 (proxy summary): https://www.stocktitan.net/sec-filings/IONQ/8-k-ion-q-inc-reports-material-event-95659c3f0160.html
Editorial
Microsoft's Majorana Might Not Exist... but it Cleared Peer Review?
Outside physicists disputed the results the same day Microsoft announced them. The company's 2029 target depends on a foundational claim that independent…
Quantinuum Raises $1.68B at $60 a Share on $30.9M in Annual Revenue
Quantinuum priced 28 million Class A shares at $60 on June 4, raising $1.68 billion on a 20x oversubscribed book, opening at $68 and closing flat on day one. The…
This is the first major pure-play trapped-ion company to go public since IonQ, and the valuation it commands over the next 90 days will function as a real-time benchmark for…
Quantinuum Form S-1, Initial Filing -- SEC EDGAR, May 9, 2026 Quantinuum Form S-1/A, Amendment No. 2 (final pricing) -- SEC EDGAR, June 1, 2026 Quantinuum closes flat in Nasdaq…
Editorial
D-Wave Touts a Recycled Relationship to Show a $1.57 Million Yale Grant
D-Wave is celebrating $1.57 million in NSF funding tied to its Quantum Circuits subsidiary, but that Yale partnership predates the acquisition by…
D-Wave's $1.57M NSF Grant Is a QCI Hand-Me-Down, Not a New Relationship
D-Wave will receive $1,566,250 of a larger $4 million NSF grant to Yale-led ERASE, a fault-tolerant quantum computing project. The grant flows through D-Wave's Quantum Circuits, LLC subsidiary, but ERASE…
This isn't a new government endorsement of D-Wave, it's a pre-existing Yale relationship that came bundled with the QCI acquisition, and D-Wave's annealing business has nothing to do with it.…
D-Wave is taking credit for a Yale partnership it bought, not built, and the press release's "deepens D-Wave's relationship with Yale" framing erases that QCI had this relationship before D-Wave…
Sources D-Wave to Receive $1.5 Million Grant Through NSF Project to Strengthen U.S. Quantum Computing Leadership — BusinessWire, June 30, 2026 - https://www.businesswire.com/news/home/20260630098255/en/D-Wave-to-Receive-$1.5-Million-Grant-Through-NSF-Project-to-Strengthen-U.S.-Quantum-Computing-Leadership A new vision for quantum computing takes…
Editorial
Trump Signed Two Quantum EOs on June 22, But They Are Not the Same Thing
Trump Signed Two Quantum Orders. Wall Street Treated Them as One.
Trump Signs Two Quantum Executive Orders: DOE Quantum Computer by 2028, Federal PQC Migration by 2030
President Trump signed two executive orders on June 22. The first directs the Department of Energy to deploy a large-scale quantum computer by 2028 under a new program called QC-ADDS.…
The 2030 PQC migration mandate creates a time-bound government procurement cycle for post-quantum cryptography products, a direct commercial catalyst for any company with QKD, PQC, or cryptographic offerings. The QC-ADDS…
The encryption order matters now and benefits cybersecurity companies, the quantum computer order is a directive to make a plan, and the names that actually matter will not appear until…
EO 14413 full text (White House): https://www.whitehouse.gov/presidential-actions/2026/06/ushering-in-the-next-frontier-of-quantum-innovation/ EO 14412 full text (White House): https://www.whitehouse.gov/presidential-actions/2026/06/securing-the-nation-against-advanced-cryptographic-attacks/
Microsoft Claims 1,000x Reliability Gain on 12-Qubit Topological Chip, Independent Physicists Immediately Dispute the Results
Microsoft announced Majorana 2 on June 2, a 12-qubit topological quantum chip using a lead-based superconducting materials stack, claiming a mean qubit lifetime of 20 seconds and a 1,000-fold improvement…
If the topological approach actually works at scale, Microsoft could eventually put millions of qubits on a single chip, a manufacturing advantage no other approach can match. But that upside…
A 12-qubit result announced via preprint rather than peer review, from a company whose prior topological paper is still under journal investigation, is not a breakthrough until independent physicists can…
Science News — "Microsoft's quantum chip got an upgrade. Critics are still skeptical" (June 2, 2026): https://www.sciencenews.org/article/microsoft-quantum-chip-upgrade-majorana Scientific American — "Microsoft's upgraded Majorana quantum computing chip fizzles with physicists" (June…