Singapore-based software firm Horizon Quantum has announced a major technological milestone, becoming the first private company to run a quantum computer for commercial use in the city-state.
The startup, founded in 2018 by quantum researcher Joe Fitzsimons, confirmed on Wednesday that the machine is now fully operational, utilizing components integrated from leading quantum computing suppliers, including Maybell Quantum, Quantum Machines, and Rigetti Computing.
The move is highly strategic for Horizon Quantum, as it also makes the company the first pure-play quantum software firm to own its own quantum computer—an integration designed to accelerate the development of real-world quantum applications.
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Fitzsimons, the CEO, told CNBC, “Our focus is on helping developers to start harnessing quantum computers to do real-world work. How do we take full advantage of these systems? How do we program them?”
He added that while the company is heavily focused on the software side, “it’s really important to understand how the stack works down to the physical level… that’s the reason we have a test bed now.”
Accelerating the Quantum Race
Quantum systems aim to tackle problems too complex for traditional machines by leveraging the principles of quantum mechanics. Applications span industries from pharmaceuticals (designing new drugs through simulating molecular interactions) to finance (running millions of scenarios to assess portfolio risk), problems that are currently slow and computationally costly for conventional machines.
Despite today’s quantum systems remaining in the nascent stages of development, investment and confidence in the technology are soaring. A top executive at Google working on quantum computers stated in March that he believes the technology is only five years away from running practical applications. Nvidia CEO Jensen Huang also offered upbeat remarks in June, saying quantum computing is nearing an “inflection point” and that practical uses may arrive sooner than he had expected.
Investment in the space has been rising rapidly, with tech giants like Alphabet, Microsoft, Amazon, and IBM, along with the U.S. government, pouring millions into quantum computing research and development.
Singapore’s Ambition and Horizon’s Nasdaq Listing
Horizon Quantum’s launch significantly boosts Singapore’s national ambition to cement itself as a regional quantum computing hub. The city-state has been strategically investing in the technology for years, setting up its first quantum research center in 2007.
The National Quantum Strategy (NQS), unveiled in May 2024, pledged approximately S$300 million (Singapore dollars) over five years to strengthen development in the sector, with a significant portion directed toward building local quantum computer processors.
Before Horizon Quantum’s system came online, Singapore reportedly had only one quantum computer, used primarily for academic research. The commercial launch helps validate the government’s investment, especially as U.S.-based firm Quantinuum also plans to deploy another commercial system in Singapore in 2026.
The announcement provides a strong narrative ahead of Horizon Quantum’s plans to go public in the U.S. The startup is planning a merger with dMY Squared Technology Group Inc., a special purpose acquisition company (SPAC). The deal, agreed upon in September, aims to take Horizon public on the Nasdaq under the ticker “HQ.” The firm said in September that the transaction valued the company at around $503 million and was expected to close in the first quarter of 2026.