IQM Goes Public: The Future of Quantum Computers Still Uncertain

IQM, Finland's leading quantum technology startup, has listed its shares on the Nasdaq exchange, becoming Europe's first public company in this field. However, the debut of the company, valued at $1.9 billion, was not as sensational as expected. The fact that the share price fell below the IPO value on the first day of trading indicates investors' cautious attitude toward the prospects of this complex technology. This is reported by Techcrunch.com reports .

The admission in IQM's prospectus announced ahead of the IPO surprised many. The company's management openly admitted that the broad commercial success of quantum computing technologies might never materialize. While such warnings are typical for all quantum companies, stating this specifically before public trading affected market participants' confidence. According to TechCrunch, this situation demonstrates how high the level of uncertainty remains in the field.

Quantum Supremacy and Real Customers

Despite this, IQM is already offering real products and services. The company not only sells physical quantum computers but also provides cloud computing services. Its current clients include prestigious organizations such as Finland's VTT Technical Research Centre and the Leibniz Supercomputing Centre in Germany. According to CEO Jan Goetz, the number of customers increased from 8 in 2024 to 22 in 2025, indicating growing demand for the technology.

The main obstacle in the field remains the failure to reach the point called "quantum supremacy." This is the stage where quantum chips begin to perform complex tasks faster and more efficiently than traditional computers can. So far, this technology is used only for narrow scientific tasks such as simulation and optimization. Although quantum computing is expected to fundamentally change biotechnology, fintech, and cybersecurity, no one can predict exactly when this will happen.

Competition Between the US and Europe

Interestingly, executive orders signed by US President Donald Trump to accelerate the development of quantum technologies are opening new opportunities for European companies like IQM. The US Department of Energy (DOE) aims to create the world's first fault-tolerant quantum computer by 2028. IQM has already opened its center in Maryland, USA, and supplied its devices to the Oak Ridge National Laboratory.

However, unlike many other European tech giants, IQM does not intend to move its headquarters entirely overseas. The company plans to list on the Nasdaq Helsinki exchange and relies on the support of investors such as Finland's Tesi state fund. Currently, the majority of the company's 420 employees operate in Espoo and Munich, implementing a global expansion strategy.

In conclusion, IQM's IPO symbolizes quantum technologies moving beyond laboratory walls and entering the real economy. But for investors, this remains a high-risk sector. The future of the technology will depend on scientists' ability to stabilize quantum chips and adapt them for mass production.