Two Israeli quantum startups target Wall Street in multibillion-dollar SPAC deals

It was perhaps only a matter of time. As investor enthusiasm for quantum computing accelerates, Israeli startups are also seeking to capitalize on the boom. Calcalist has learned that two Israeli quantum computing companies, Quantum Art and Classiq, are in advanced negotiations to go public on Wall Street through mergers with special purpose acquisition companies (SPACs). The companies are targeting valuations of between $2 billion and $5 billion each, according to people familiar with the discussions. Both companies declined to comment. According to industry sources, roughly 30 SPACs are currently searching for acquisition targets in the quantum computing sector, including the Israeli SPAC founded by Tom Livne and Eyal Waldman, which recently raised $172 million. Quantum Art, which is developing a full-scale quantum computer based on trapped-ion technology, is further advanced in the process.