Quantum computing company Infleqtion will go public through a merger with Churchill Capital Corp X, a special purpose acquisition company (SPAC) led by veteran Wall Street dealmaker Michael Klein. The deal, announced Monday, values Infleqtion at $1.8 billion before new investment and is expected to provide more than $540 million in funding, including backing from institutional investors such as Maverick Capital, Counterpoint Global, and Glynn Capital.
Infleqtion, which develops quantum computers and precision sensors, said proceeds from the transaction would accelerate product development and broaden applications in artificial intelligence, national security, and space exploration. The combined company is expected to trade under the ticker symbol “INFQ” on a North American exchange, with the deal projected to close later this year or in early 2026.
As of June 30, Churchill Capital Corp X held about $416 million in its trust account, while Infleqtion has secured over $125 million in additional funding commitments through a PIPE arrangement, contingent on the merger’s completion. The deal reflects growing investor interest in quantum computing, following earlier SPAC listings by rivals IonQ, Rigetti Computing, and D-Wave Quantum.
Infleqtion already counts Nvidia, the U.S. Department of Defense, NASA, and the UK government among its users. The company reported $29 million in trailing 12-month revenue as of June 30 and expects about $50 million in booked and awarded business by the end of 2025. The merger underscores both investor confidence and strategic demand for next-generation quantum technologies across critical industries.