Pasqal became the first French quantum computing company to go public, merging with a SPAC to list on the Nasdaq on August 28, 2026 under the ticker PSQL, with a valuation of approximately $2 billion and $360 million in cash raised. The company, chaired by Nobel laureate Alain Aspect, relies on neutral atom technology operating at room temperature, with seven quantum computers already deployed across three continents and three more in production. It reported revenue of $19.4 million in 2025, but remains unprofitable and valued at nearly 100 times sales, implying high risk for investors. Its clients include EDF, CMA CGM, Thales, Aramac and the IBM Quantum network, demonstrating real commercial adoption. Key risks include dilution from convertible financing, extreme volatility during the first months of trading, and the prospect of meaningful quantum advantage still expected at the end of the decade.
Source: Read the original article
