425: Horizon Quantum Unveils First In-House Quantum Computer

Horizon Quantum Computing, set to merge with dMY Squared Technology Group, announced the successful assembly and integration of its first operational quantum computer in Singapore.

Summary

• Horizon Quantum Computing has completed the assembly and integration of its first quantum computer at its Singapore headquarters, making it the first quantum software company to own and operate such a system.
• The system is fully operational and serves as a testbed for Horizon Quantum's software infrastructure development, aiming for tight integration between hardware and software.
• The quantum computer was assembled from best-in-class components, including Maybell's cryogenic platform, Quantum Machines' control electronics, and a Rigetti superconducting quantum processor.
• This in-house hardware control is expected to accelerate the path to useful quantum computing and enhance the functionality of Horizon Quantum's Triple Alpha integrated development environment.
• The system's modular design allows for flexibility in testing various configurations and architectures, supporting the company's goal of hardware-agnostic development tools.
• The quantum computer is expected to be made available via Triple Alpha.
• The announcement comes as Horizon Quantum is in the process of a business combination with dMY Squared Technology Group, Inc., initially announced on September 9, 2025.

Sentiment

Score: 8

Explanation: The successful assembly and integration of a quantum computer by a software company is a significant positive technical milestone, demonstrating tangible progress and strategic differentiation. While the overall business combination still carries risks, this specific event is a strong positive for Horizon Quantum.

Positives

• Horizon Quantum Computing successfully assembled and integrated its first operational quantum computer.
• The company is now the first quantum software company to own and operate its own quantum computer, providing full control over both hardware and software stacks.
• This integration is expected to accelerate the development of useful quantum computing applications and enhance the Triple Alpha development environment.
• The modular design allows for testing across diverse hardware configurations, supporting hardware-agnostic software development.
• The achievement is a significant technical milestone for Horizon Quantum, validating its capabilities in the quantum computing space.

Risks

• The occurrence of any event, change, or circumstances that could lead to the termination of the Business Combination Agreement.
• Potential legal proceedings against the parties following the announcement of the Business Combination.
• Inability to complete the Business Combination due to failure to obtain shareholder approvals or other closing conditions.
• Required changes to the structure of the Business Combination due to laws, regulations, or regulatory approval conditions.
• Uncertainty regarding Horizon's ability to scale and grow its business as anticipated.
• The cash position of Horizon following the closing of the Business Combination.
• Inability to obtain or maintain the listing of Holdco's securities on the New York Stock Exchange, the NYSE American, or Nasdaq after the Business Combination.
• The risk that the announcement and pendency of the Business Combination disrupts Horizon's current plans and operations.
• Inability to recognize the anticipated benefits of the Business Combination, potentially affected by competition, Holdco's ability to grow profitably, and retaining key employees.
• Costs related to the Business Combination.
• Changes in applicable laws, regulations, or political and economic developments.
• The possibility that Horizon may be adversely affected by other economic, business, and/or competitive factors.
• Uncertainty regarding Horizon's estimates of expenses and profitability.
• The amount of redemptions by dMY public shareholders in connection with the Extension and the Business Combination.
• Difficulties operating Horizon's quantum processor and the possibility that it does not provide the expected advantages.

Future Outlook

Horizon Quantum expects its in-house quantum computer to enhance the functionality of its Triple Alpha integrated development environment and aid in developing a hardware-agnostic development and execution stack to unlock quantum advantage. The company aims to be operational on as many hardware platforms as possible, integrating with both cloud-based systems and quantum computers hosted in traditional data centers. The newly assembled quantum computer is expected to be made available via Triple Alpha.

Management Comments

• "Our focus at Horizon Quantum is on enabling developers to harness quantum computing to solve real-world problems that are not tractable with conventional computing. Achieving quantum advantage will require close coordination between the hardware and software layers. I strongly believe that by establishing our own hardware testbed we are placing the company in a compelling position to build a sophisticated hardware-agnostic development and execution stack that integrates tightly with hardware control systems and that will help unlock quantum advantage." Dr. Joe Fitzsimons, founder and CEO of Horizon Quantum.
• "Horizon Quantum's commissioning of its first in-house quantum computer is an impressive accomplishment and underscores the company's leadership in building the software infrastructure that will power the next era of quantum computing. We are thrilled to support their continued execution and look forward to completing our business combination as Horizon accelerates toward its vision." Harry You, Chairman and CEO of dMY Squared Technology Group, Inc.

Industry Context

This announcement positions Horizon Quantum Computing as a unique player in the nascent quantum computing industry, being the first quantum software company to own and operate its own quantum computer. This strategy of tight hardware-software integration contrasts with many software-focused quantum companies that rely solely on third-party hardware providers. It could potentially accelerate their development cycle and differentiate their offerings in a highly competitive and rapidly evolving technological landscape, where achieving 'quantum advantage' is the ultimate goal.

Comparison to Industry Standards

• Horizon Quantum's approach of owning and operating its own quantum computer, while primarily a software company, is a notable deviation from many quantum software firms that typically rely on cloud access to hardware from providers like IBM, Google, or Amazon.
• The use of "best-in-class components" from Maybell (cryogenics), Quantum Machines (control electronics), and Rigetti (superconducting quantum processor) indicates a strategic assembly rather than a proprietary end-to-end hardware build, allowing for flexibility and leveraging specialized expertise from established hardware players.
• This integrated approach aims to narrow the gap between theoretical quantum computation and practical realization, a common challenge across the industry.

Legal Proceedings

• The risk of any legal proceedings that may be instituted against the parties following the announcement of the Business Combination and the Business Combination Agreement is noted.

Stakeholder Impact

• Shareholders (dMY): Will vote on the Business Combination and the Extension. The successful technical milestone for Horizon Quantum could be viewed positively, but the risks associated with the merger remain.
• Employees (Horizon Quantum): The successful commissioning of the quantum computer validates their technical achievements and strategic direction.
• Customers/Developers (Horizon Quantum): The in-house quantum computer is expected to enhance Triple Alpha and be made available, potentially offering a more integrated and powerful development environment.
• Investors: Provided with an update on a key technical milestone for Horizon Quantum, which is a significant development in the context of its pending SPAC merger.

Next Steps

• Holdco and Horizon will file a registration statement on Form F-4, including a preliminary proxy statement of dMY and a preliminary prospectus of Holdco.
• After the Registration Statement is declared effective, dMY will mail a definitive proxy statement/prospectus to its shareholders for voting on the Business Combination.
• A special meeting of dMY shareholders will be held to vote on the Business Combination.
• Horizon Quantum's in-house quantum computer is expected to be made available via Triple Alpha.
• Horizon Quantum aims to integrate its software infrastructure with a variety of quantum hardware stacks and be operational on multiple hardware platforms.

Key Dates

Keywords

Quantum Computing, Quantum Software, Hardware-Agnostic, Triple Alpha, SPAC, Business Combination, Horizon Quantum Computing, dMY Squared Technology Group, Rigetti, Quantum Machines, Maybell, Singapore, Technology, Innovation