Another quantum computing name is lining up to enter public markets, and this one is taking a different technological path than its peers.
Infleqtion and Churchill Capital Corp X $CCCX ( ▲ 7.97% ) filed their S-4 with the SEC on Tuesday, clearing a key regulatory hurdle for their planned SPAC merger. The deal is expected to close later this quarter, at which point the combined company would begin trading under the ticker $INFQ.
A different approach to quantum
Unlike most publicly traded quantum companies, Infleqtion is not using superconducting or trapped-ion systems. Instead, it relies on neutral atom technology, a method that uses lasers to manipulate individual atoms arranged in precise grids.
That sets it apart from rivals like IonQ $IONQ ( ▲ 1.35% ) , Rigetti Computing $RGTI ( ▲ 0.16% ) , and D-Wave Quantum $QBTS ( ▼ 3.05% ) , which each use different architectures to solve quantum problems. The distinction has already caught Wall Street’s attention. In October, Citron Research called Infleqtion “the most compelling trade in quantum,” recommending investors go long $CCCX ( ▲ 7.97% ) while shorting Rigetti.
Valuation gap and what comes next
Infleqtion’s pre-money valuation was set at $1.8 billion when the deal was announced in September, well below the market caps currently assigned to its publicly traded competitors. That gap could make the stock appealing to investors looking for a quantum pure-play that hasn’t already been bid up.
The S-4 filing puts the merger on track to close in Q1, marking another step in quantum computing’s slow but steady march toward commercialization. As public markets continue to warm to the sector, Infleqtion is positioning itself as a differentiated bet at a relatively early stage.