Two Israeli quantum computing startups are moving to list on Wall Street through SPAC deals valued in the multibillion-dollar range, according to CTech.
A SPAC, or special-purpose acquisition company, is a shell company that raises money by going public first and then merges with a private business. That merger takes the private company public without the lengthier, more traditional initial public offering process. SPACs saw a boom a few years ago, then cooled, so a fresh wave tied to a hot technology like quantum computing is notable.
CTech reports that both companies are Israeli and that both are targeting a U.S. public listing, framing the deals as part of the country's growing presence in advanced computing. Beyond that, the report identifies the effort as multibillion-dollar in scale.
Quantum computing aims to solve certain problems far faster than today's machines by exploiting the physics of subatomic particles. The field remains early and largely pre-revenue, which makes public listings a way for startups to raise the large sums needed to keep building while giving everyday investors exposure to a speculative frontier.
Why it matters: the plans signal that investor appetite for quantum computing is strong enough to revive SPAC dealmaking, and that Israel is positioning itself as a hub in a technology many governments and companies consider strategically important.