Infleqtion, a quantum computing and precision sensor company, announced Monday it will go public through a merger with Churchill Capital Corp X, a SPAC led by Wall Street dealmaker Michael Klein, valuing the startup at $1.8 billion pre-investment.
The transaction is expected to provide Infleqtion with over $540 million before costs, including $416 million from the SPAC’s trust account and more than $125 million in PIPE funding from investors such as Maverick Capital, Counterpoint Global, and Glynn Capital.
The merged company will list under the ticker “INFQ” on a North American exchange, with closing expected by late 2025 or early 2026.
Founded in 2007, Infleqtion has raised $283 million to date and employs about 185 staff. Its quantum systems and sensors are already in use by Nvidia, NASA, the U.S. Department of Defense, and the UK government. The company reported $29M in trailing 12-month revenue as of June 30 and projects $50M in booked and awarded business by end-2025.
Proceeds from the deal will accelerate product development and expand quantum applications in AI, national security, and space exploration.
Quantum peers IonQ, Rigetti, and D-Wave have also gone public via SPACs in recent years, though with mixed results amid challenges scaling the technology commercially. Infleqtion hopes its government partnerships and enterprise clients give it an edge in bridging R&D with practical deployment.