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ԹϺ Enters into Letter of Intent with the U.S. Department of Commerce for Funding Opportunity to Accelerate U.S. Leadership in Quantum Computing

May 21, 2026
  • Letter of intent from the U.S. Department of Commerce proposes to provide R&D funding for ԹϺ to address specific technology bottlenecks in the development of fault-tolerant trapped-ion quantum computers
  • ԹϺ expected to partner with leading onshore semiconductor manufacturing and photonics technology suppliers to strengthen U.S. semiconductor supply chain and manufacturing capabilities  

WASHINGTON, D.C. — ԹϺ, a leading quantum computing company, today announced a letter of intent with the U.S. Department of Commerce’s CHIPS Research and Development Office. The letter of intent proposes that ԹϺ would receive federal funding to enable the development of large-scale, fault-tolerant trapped-ion quantum computers that are of national strategic importance.

“With today’s CHIPS Research and Development investments in quantum computing, the Trump administration is leading the world into a new era of American innovation,” said Secretary of Commerce Howard Lutnick. “These strategic quantum technology investments will build on our domestic industry, creating thousands of high-paying American jobs while advancing American quantum capabilities.”

Key to this initiative is overcoming specific technical bottlenecks and strengthening domestic supply chains and manufacturing capabilities, consistent with the U.S. government’s goal of growing its leadership in semiconductor technology and accelerating the commercialization of frontier industries, such as artificial intelligence and quantum computing.

“Quantum computing has the potential to unlock new possibilities across science, industry, and national priorities for decades to come,” said Dr. Rajeeb Hazra, President and CEO of ԹϺ. “This collaboration with the Department of Commerce is designed to help ԹϺ’s path to large-scale, fault-tolerant trapped-ion systems while strengthening the U.S. innovation and manufacturing ecosystem.”  

The letter of intent supports ԹϺ’s plan to partner with the CHIPS R&D Office and onshore suppliers GlobalFoundries, for critical semiconductor components, and Monarch Quantum, for integrated photonics, to further optimize key engineering pathways for components within ԹϺ’s future commercial roadmap.

“GlobalFoundries is excited to partner with ԹϺ on their ion-trap quantum technology,” said Tim Breen, CEO of GlobalFoundries. “We believe GF’s differentiated semiconductor platforms in cryo-CMOS, cryo-3D interconnect, and advanced packaging, combined with ԹϺ's deep ion-trap expertise, will help ԹϺ accelerate their quantum system scale-up roadmap to utility-scale quantum computing.”

“Monarch Quantum is proud to partner with ԹϺ to advance U.S. leadership in next-generation computing infrastructure,” said Dr. Timothy Day, Chairman & CEO of Monarch Quantum. “By delivering advanced integrated photonics through a resilient domestic supply chain, we are committed to supporting the secure, scalable manufacturing required for fault-tolerant quantum systems.”

In addition to strengthening domestic semiconductor manufacturing and supply chain resilience, this initiative is expected to support development of a specialized workforce for next-generation quantum computing technologies.

About ԹϺ

ԹϺ is a leading quantum computing company offering a full-stack platform designed to make quantum computing deployable in real-world environments. The company has commercially deployed multiple generations of trapped-ion based quantum systems built on the well-established QCCD architecture, which it has implemented with novel designs and capabilities to achieve the industry’s highest accuracy levels based on average two-qubit gate fidelity.1  ԹϺ has active engagements with market leaders across pharmaceuticals, material science, financial services, and government and industrial markets.

The company has a global workforce of approximately 700 employees, including top scientists and researchers. Over 70% of its technology team holds PhDs or Master’s degrees. ԹϺ’s headquarters is in Broomfield, Colorado, with additional facilities across the United States, United Kingdom, Germany, Japan, Qatar, and Singapore.  

For more information, please visit www.quantinuum.com.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains certain statements that may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. The words “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “future,” “will,” “seek,” “foreseeable,” the negative version of these words, or similar terms and phrases are intended to identify forward-looking statements. Such statements are based on certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. New factors emerge from time to time, and it is not possible for ԹϺ to predict all such factors. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, ԹϺ does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

1As of December 31, 2025.

About ԹϺ

ԹϺ, the world’s largest integrated quantum company, pioneers powerful quantum computers and advanced software solutions. ԹϺ’s technology drives breakthroughs in materials discovery, cybersecurity, and next-gen quantum AI. With over 500 employees, including 370+ scientists and engineers, ԹϺ leads the quantum computing revolution across continents. 

July 22, 2026
ԹϺ Appoints Chief Legal Officer and Chief People Officer

Broomfield, CO July 22, 2026 — ԹϺ, Inc. (NASDAQ:QNT), a leading quantum computing company, today announced the recent appointments of Robin Schulman as Chief Legal Officer (CLO) and Company Secretary, effective July 13, 2026, and Rory O’Byrne as Chief People Officer (CPO), effective May 26, 2026. Ms. Schulman and Mr. O’Byrne both report to ԹϺ’s President and CEO Rajeeb Hazra.

“As ԹϺ enters an exciting new chapter as a publicly listed company, we are pleased to welcome Robin and Rory to our leadership team," said Dr. Rajeeb Hazra, President and CEO of ԹϺ. “Both Robin and Rory are highly accomplished leaders who bring deep experience guiding technology companies through periods of transformation. Their proven track records of building high-performing organizations and world-class functions will provide an invaluable benefit to ԹϺ as we continue to scale our business and the commercialization of quantum computing accelerates.”

Ms. Schulman joins ԹϺ with more than two decades of legal and executive leadership experience guiding high-growth technology companies through periods of rapid expansion, strategic transformation, and public company evolution, with a track record of translating strategy into execution and building the foundations for sustainable growth. Most recently, Ms. Schulman served as Chief Legal Officer and Head of Corporate Affairs at GitLab, where she spent nearly seven years leading the company's global legal, compliance, policy, competition, intellectual property, corporate development, sustainability and privacy strategy. Prior to that, she was the Chief Legal Officer at Couchbase and New Relic and held senior leadership positions at Adobe Inc.

"ԹϺ sits at a fascinating intersection of groundbreaking science and real-world commercial impact, and I could not be more excited to join the team at this important moment in the company’s journey,” said Robin Schulman, Chief Legal Officer and Company Secretary of ԹϺ. “I look forward to partnering with Raj, our Board, and the leadership team to build a durable foundation that supports ԹϺ’s continued growth and long-term success.”

Mr. O’Byrne brings more than 25 years of global human resources experience leading public and private equity-backed organizations across the technology, energy, mining, and industrial sectors. Most recently, Mr. O’Byrne served as Chief People Officer for Advanced Energy, where he led the company’s human resources team during a period of integration, transformation, and operational expansion. Prior to that, he served as Chief Human Resources Officer for Jonah Energy LLC and Senior Vice President, Global Human Resources at MRC Global.

"I'm thrilled to be joining ԹϺ at such a pivotal moment for the company and for quantum computing more broadly," said Rory O'Byrne, Chief People Officer of ԹϺ. "Having spent my career helping organizations scale through periods of rapid growth, I'm excited to build the people, culture, and infrastructure that will support ԹϺ's next chapter as a public company. It's a rare opportunity to help shape an organization at the forefront of a technology that will define the coming decades."

About ԹϺ

ԹϺ is a leading quantum computing company offering a full-stack platform designed to make quantum computing deployable in real-world environments. The company has commercially deployed multiple generations of trapped-ion based quantum systems built on the well-established QCCD architecture, which it has implemented with novel designs and capabilities to achieve the industry’s highest accuracy levels based on average two-qubit gate fidelity.1  ԹϺ has active engagements with market leaders across pharmaceuticals, material science, financial services, and government and industrial markets, as well as academic and research institutions globally. The company has a global workforce of approximately 700 employees, including top scientists and researchers. Over 70% of its technology team holds PhDs or Master’s degrees. ԹϺ’s headquarters is in Broomfield, Colorado, with additional facilities across the United States, United Kingdom, Germany, Japan, Qatar, and Singapore.

For more information, please visit www.quantinuum.com

Cautionary Statement Concerning Forward-Looking Statements

This press release contains certain statements that may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. The words “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “future,” “will,” “seek,” “foreseeable,” the negative version of these words, or similar terms and phrases are intended to identify forward-looking statements. Such statements are based on certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. New factors emerge from time to time, and it is not possible for ԹϺ to predict all such factors. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, ԹϺ does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

1 As of December 31, 2025.

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July 21, 2026
ԹϺ and SoftBank Corp. Publish Joint White Paper on Scaling Practical Quantum Computing Use Cases Toward the Fault-Tolerant Era
  • The companies have published a joint white paper mapping commercially relevant quantum computing use cases in quantum chemistry and graph analytics to ԹϺ’s hardware roadmap.
  • The paper provides a framework for assessing how advances in quantum hardware and algorithms could affect when practical industrial applications become feasible.
  • SoftBank Corp. and ԹϺ will use the roadmap to inform their exploration of future quantum AI data center services and related business models.

TOKYO and BROOMFIELD, Colo. – ԹϺ (NASDAQ: QNT) and SoftBank Corp. ("SoftBank") today announced the publication of “Quantum Computing Frontiers,” a joint white paper that maps two commercially-relevant quantum computing application areas against ԹϺ’s hardware roadmap. The analysis examines how advances in quantum hardware and algorithms could affect when these applications become practical for industrial use.

Building on this use-case roadmap, the paper also examines how quantum computing, AI, and high-performance computing could be integrated into future computing infrastructure. It considers how progress across successive hardware generations could inform future quantum AI data center services and related business models, a key focus of the ԹϺ and SoftBank partnership announced last year.

“The key takeaway of this study is that organizations do not need to wait for large-scale, fault-tolerant systems to explore where quantum computing can begin creating value,” said Duncan Jones, General Manager, Applications Group at ԹϺ. “By using today’s systems to develop, benchmark and refine applications in areas such as quantum chemistry and graph analytics, enterprises can build the technical and operational readiness needed for the next era of quantum-enabled computing.”

“The question is no longer whether quantum computing may deliver value, but rather which problem classes become executable at which stage of hardware maturity,” said Ryuji Wakikawa, Senior Vice President & CTO at SoftBank Corp. “However, we believe progress in hardware must be complemented by equally strong developments in quantum algorithms and the integration of quantum systems with AI and high-performance computing.”

The white paper discusses illustrative scenarios describing how representative applications, technology maturity, and potential market opportunities may evolve over time under stated assumptions. The analysis provided in the paper is intended to provide a conceptual framework for understanding potential market evolution and does not represent financial guidance or forecasts. These analyses are intended to support discussion of future technology development and should not be interpreted as commitments regarding commercialization, infrastructure investment, products, services, or financial performance.

The full white paper is available to download on the and ԹϺ websites.

About SoftBank Corp.

Guided by the SoftBank Group’s corporate philosophy, “Information Revolution – Happiness for everyone,” SoftBank Corp. (TOKYO: 9434) operates telecommunications and IT businesses in Japan and globally. Building on its strong business foundation, SoftBank Corp. is aiming to activate the potential of AI across its businesses and drive implementation in line with its “Activate AI for Society” growth strategy. While further growing its telecom business, SoftBank is expanding its AI computing infrastructure and AI and Cloud service businesses with the aim of becoming a provider of Next-generation Social Infrastructure. To learn more, please visit

About ԹϺ

ԹϺ (NASDAQ: QNT) is a leading quantum computing company offering a full-stack platform designed to make quantum computing deployable in real-world environments. The company has commercially deployed multiple generations of quantum systems built on the well-established QCCD architecture, which it has implemented with novel designs and capabilities to achieve the industry’s highest accuracy levels based on average two-qubit gate fidelity.1  ԹϺ has active engagements with market leaders across pharmaceuticals, material science, financial services, and government and industrial markets. The company has a global workforce of approximately 700 employees, including top scientists and researchers. Over 70% of its technology team holds PhDs or Master’s degrees. ԹϺ’s headquarters is in Broomfield, Colorado, with additional facilities across the United States, United Kingdom, Germany, Japan, Qatar, and Singapore.

For more information, please visit www.quantinuum.com.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains certain statements that may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. The words “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “future,” “will,” “seek,” “foreseeable,” the negative version of these words, or similar terms and phrases are intended to identify forward-looking statements. Such statements are based on certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. New factors emerge from time to time, and it is not possible for ԹϺ to predict all such factors. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, ԹϺ does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

1 As of December 31, 2025.

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July 14, 2026
ԹϺ, Rolls-Royce, Riverlane and University of Edinburgh Sign Agreement to Explore Quantum Computing for Industrial Design and Simulation
  • Collaboration will explore how fault-tolerant quantum computing could advance complex fluid dynamics simulations, including for uses in gas turbine design
  • Project aims to combine ԹϺ’s Helios platform, the world’s most accurate commercial quantum computer1, Rolls-Royce’s industrial applications, Riverlane’s quantum error correction and fault-tolerant algorithm expertise, and EPCC’s supercomputing expertise
  • Collaboration will help advance the UK quantum strategy by developing the quantum technologies and hybrid computing capabilities needed for future industrial applications

BROOMFIELD, Colo. and CAMBRIDGE, UK, July 14th, 2026 – ԹϺ Inc. (NASDAQ:QNT), Rolls-Royce, Riverlane and EPCC, the UK National Supercomputing Centre based at the University of Edinburgh, today announced an agreement to explore the quantum computing capabilities needed in future industrial workflows, such as gas turbine design.

Under the agreement, ԹϺ will provide access to its quantum systems and software environment; Rolls-Royce will contribute industrial design use cases and domain expertise; Riverlane will contribute quantum error correction and algorithmic expertise; and EPCC will contribute supercomputing expertise and hybrid workflow integration.

Complex fluid dynamics simulations are central to gas turbine design, but they can require substantial computing resources as models become more detailed. In what is expected to be a multi-year collaboration, the partners will explore how fault-tolerant quantum computers could work alongside supercomputers to address this bottleneck, and accurately model fluid dynamics inside gas turbines.

“The computing demands of simulating complex fluid dynamics are a major challenge in industrial design, and exploring how quantum computing can complement today’s supercomputers is an important step toward addressing them,” said Dr. Rajeeb Hazra, President and CEO of ԹϺ. “This collaboration will help develop and test the hybrid quantum-classical algorithms needed for future industrial applications.”

The collaborators plan to test key computational building blocks for industrially relevant quantum algorithms on ԹϺ’s Helios quantum computer and assess how these could scale on planned future systems, such as Sol and Apollo.

This project builds on prior collaborations between Rolls-Royce, Riverlane and EPCC that laid the foundations for understanding key algorithmic, error correction and data requirements for tackling fluid dynamic simulations with commercial quantum computers.

“We have been developing and improving algorithms for hybrid fault-tolerant applications for almost five years with Riverlane, using classical emulators in collaboration with EPCC. This agreement marks the start of an exciting new phase where we work together to explore their implementations on ԹϺ’s hardware,” said Leigh Lapworth, Fellow in Computational Science at Rolls-Royce. “Applications development is a multi-year activity and if we want to be in a position to benefit from teraQuOp devices, we have to start now, co-developing the algorithms, hardware and software.”

“Riverlane specialises in quantum error correction (QEC), as the critical technology that will ultimately unlock large fault tolerant quantum computing, and fault tolerant applications for various industries," said Steve Brierley, CEO and Founder of Riverlane. "Building on our work with Rolls-Royce and EPCC, collaborating with ԹϺ will help us explore how fault-tolerant quantum computing and hybrid quantum-HPC approaches can accelerate the path to industrial quantum computing."

EPCC will contribute its expertise in high-performance computing, simulations and the software interfaces needed to connect quantum and classical systems. Its role includes exploring how different parts of an algorithm can be compiled, emulated and executed across classical and quantum resources, including pre- and post-processing steps required for hybrid compute workflows.

“Quantum computing will be most valuable when users can exploit it within a wider computing environment, and EPCC has been working towards hybrid HPC and quantum since my appointment as a Chancellor’s Fellow in 2023,” said Oliver Thomson Brown, Quantum Group lead at EPCC. “EPCC’s mission is to accelerate the effective use of novel computing across industry and academia, and this project is a natural fit with the goals of the UK’s first National Supercomputing Centre.”

The UK’s quantum computing mission aims to develop accessible, UK-based quantum computers capable of one trillion error-free operations, known as “teraQuOp” systems. The collaboration and its anticipated multi-year timeline support the UK Government’s quantum computing mission and reflect the strength and maturity of the UK’s quantum and advanced computing ecosystem in moving from foundational research toward industrially relevant hybrid applications.

About ԹϺ

ԹϺ is a leading quantum computing company offering a full-stack platform designed to make quantum computing deployable in real-world environments. The company has commercially deployed multiple generations of trapped-ion based quantum systems built on the well-established QCCD architecture, which it has implemented with novel designs and capabilities to achieve the industry’s highest accuracy levels based on average two-qubit gate fidelity.2 ԹϺ has active engagements with market leaders across pharmaceuticals, material science, financial services, and government and industrial markets, as well as academic and research institutions globally.

The company has a global workforce of approximately 700 employees, including top scientists and researchers. Over 70% of its technology team holds PhDs or Master’s degrees. ԹϺ’s headquarters is in Broomfield, Colorado, with additional facilities across the United States, United Kingdom, Germany, Japan, Qatar, and Singapore.

For more information, please visit www.quantinuum.com.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains certain statements that may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. The words “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “future,” “will,” “seek,” “foreseeable,” the negative version of these words, or similar terms and phrases are intended to identify forward-looking statements. Such statements are based on certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. New factors emerge from time to time, and it is not possible for ԹϺ to predict all such factors. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, ԹϺ does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

1 Based on its high two-qubit gate fidelity supporting 98 physical qubits.

2 As of December 31, 2025.

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