## Are Israeli Quantum Startups Quantum Art and Classiq Heading to Wall Street via SPAC?

Two Israeli quantum computing companies — trapped-ion hardware developer Quantum Art and quantum software platform [Classiq Technologies](https://quantumintel.tech/companies/classiq) — are in advanced discussions to go public on Wall Street through SPAC mergers that could value each company between **$2 billion and $5 billion**, according to YNet News citing information first obtained by Calcalist. The companies declined to comment. If completed, these deals would mark the first Israeli quantum computing listings on a U.S. exchange, arriving as five quantum startups have already gone public via SPAC in 2026 alone, with the combined valuation of publicly listed quantum companies sitting at roughly **$70 billion**, per industry estimates cited by YNet News.

Quantum Art, founded in 2022 and holding approximately **$200 million** in total funding, is reportedly the further along of the two and could list before the end of 2026. Classiq, which has also raised approximately **$200 million** to date, is simultaneously weighing an additional private fundraising round to secure a higher valuation before pursuing a public listing. The backdrop: roughly **30 SPACs** are currently searching for quantum computing acquisition targets, according to industry sources cited by YNet News — including an Israeli SPAC led by Tom Livne and Eyal Waldman that recently raised **$172 million**.

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## Quantum Art: Trapped-Ion Hardware From Weizmann Roots

Quantum Art is building a full-stack quantum computer using [trapped-ion](https://quantumintel.tech/glossary/entanglement) technology — a modality in which quantum information is encoded in electrically charged atoms held in place by electromagnetic fields. The approach is widely regarded as offering high [gate fidelity](https://quantumintel.tech/glossary/gate-fidelity) and long [coherence times](https://quantumintel.tech/glossary/coherence-time) relative to superconducting alternatives, though scaling to large qubit counts remains a significant engineering challenge that the entire field is still working through.

The company's founding team carries substantial academic weight. Dr. Tal David previously led Israel's national quantum computing program. Prof. Roee Ozeri is affiliated with the Weizmann Institute of Science. Dr. Amit Ben-Kish completed his doctorate under Nobel laureate Prof. David Wineland — the physicist whose foundational work on trapped-ion control underpins much of the industry's current approach. The company employs approximately 60 people, according to YNet News.

The valuation target of $2 billion to $5 billion requires context. YNet News notes that Quantum Art is deliberately seeking a lower valuation than peers because it has yet to establish significant revenue. For reference, [IonQ](https://quantumintel.tech/companies/ionq) and [Quantinuum](https://quantumintel.tech/companies/quantinuum) — the two most prominent public and near-public trapped-ion players — have reached valuations of roughly **$20 billion**, per the same report. Quantum Art's ask is therefore a material discount to those comps, which the company appears to be framing as a feature rather than a liability.

The skeptical read: a 60-person team with ~$200 million in total funding and no disclosed revenue seeking a multi-billion-dollar public-market valuation is a significant ask, even in a sector where investors have demonstrated tolerance for long development timelines. The quality of the founding team is not in question. Whether SPAC investors will apply the same discipline as institutional late-stage VCs is a separate question.

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## Classiq: The Software Layer Bet

[Classiq Technologies](https://quantumintel.tech/companies/classiq) takes the opposite approach: no hardware, all software. Founded in 2020, the company builds tools that allow developers and organizations to design quantum algorithms and applications that can run across different quantum hardware backends — essentially abstracting away the idiosyncrasies of individual machines.

The customer and partner roster disclosed by YNet News is notably enterprise-grade: customers include BMW, Rolls-Royce, Comcast, Citi, Toshiba, and SoftBank, while platform partnerships span Nvidia, [Microsoft Quantum](https://quantumintel.tech/companies/microsoft), and [Amazon Web Services](https://quantumintel.tech/companies/amazon-web-services). Investors include AMD, Qualcomm, IonQ, and SoftBank. Industry estimates cited in the report place Classiq's annual revenue "in the tens of millions of dollars" — a deliberately imprecise figure, but one that places it well ahead of most quantum software peers in terms of commercial traction.

The strategic logic for Classiq is straightforward: if [fault-tolerant quantum computing](https://quantumintel.tech/glossary/fault-tolerant-quantum-computing) hardware from multiple vendors eventually reaches commercial scale, cross-platform software becomes critical infrastructure. The company is positioning itself as that layer. The risk is equally straightforward: hardware timelines repeatedly slip, and software revenue in a pre-scale hardware market has a natural ceiling. Classiq's decision to potentially raise another private round before the SPAC suggests management is aware the current revenue base may not support the top end of that $2B–$5B range without further proof points.

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## The SPAC Wave: Structure, Scale, and Skepticism

The mechanism matters. SPACs — Special Purpose Acquisition Companies — allow private firms to reach public markets faster than traditional IPOs, with less regulatory scrutiny of forward-looking projections. That structure has historically attracted companies that are long on vision and short on near-term revenue, which describes much of the quantum hardware sector accurately.

YNet News reports five quantum startups have already completed SPAC mergers in 2026, with another five in advanced discussions. The combined public market cap of listed quantum companies is approximately $70 billion, per the report's industry estimates. The Israeli SPAC led by Tom Livne and Eyal Waldman — which raised $172 million — is one vehicle in that pipeline.

The macro context is relevant here: the first SPAC wave in quantum, which brought IonQ, D-Wave, Rigetti, and others public in 2021–2022, was followed by significant valuation compression as revenue timelines extended. Some of those companies have since recovered substantially. That history doesn't invalidate the current wave, but it should inform how enterprise buyers and investors model the gap between announced partnerships and contracted recurring revenue.

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## What This Means for the Industry

The acceleration of SPAC activity in quantum computing reflects a structural shift in how the sector is being financed. Private venture markets have limits — even well-capitalized quantum startups eventually need access to capital pools that only public markets provide for sustained, decade-long infrastructure builds. The $200 million total funding figures for both Quantum Art and Classiq, while substantial by startup standards, are modest relative to what full-scale fault-tolerant system development is expected to require.

For enterprise buyers evaluating Classiq's platform today, a public listing would increase financial transparency and likely strengthen procurement conversations with large organizations that require vendor stability. For Quantum Art, a public listing before year-end would be a significant milestone for Israel's quantum ecosystem — a country that has invested meaningfully in quantum research infrastructure but has yet to produce a publicly traded quantum hardware company.

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## Key Takeaways

- **Quantum Art** (trapped-ion hardware, ~$200M raised, ~60 employees) is reportedly in advanced SPAC discussions and could list on Wall Street before end of 2026, targeting a $2B–$5B valuation.
- **Classiq** (quantum software, ~$200M raised) is in parallel SPAC talks at the same valuation range, while also considering an additional private round first.
- Both companies declined to comment on the reported discussions.
- Approximately **30 SPACs** are currently hunting quantum computing acquisition targets; five quantum companies have already gone public via SPAC in 2026.
- Combined valuation of publicly listed quantum companies is approximately **$70 billion** per industry estimates cited by YNet News.
- Classiq's customer base — BMW, Rolls-Royce, Citi, Comcast, Toshiba, SoftBank — and its annual revenue described as "in the tens of millions" makes it an outlier for quantum software commercial traction.
- Quantum Art's founding team includes alumni of Israel's national quantum program, the Weizmann Institute, and a Nobel laureate's lab.

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## Frequently Asked Questions

**What is Quantum Art and what technology does it use?**
Quantum Art is an Israeli quantum hardware company founded in 2022 that is developing a full-stack quantum computer based on trapped-ion technology. The company has raised approximately $200 million in total funding and employs around 60 people, according to YNet News. Its founding team includes Dr. Tal David, Prof. Roee Ozeri of the Weizmann Institute, and Dr. Amit Ben-Kish, who trained under Nobel laureate Prof. David Wineland.

**What does Classiq do and who are its customers?**
Classiq, founded in 2020, builds quantum software tools that let organizations design and run quantum applications across different hardware platforms. Its customers include BMW, Rolls-Royce, Citi, Comcast, Toshiba, and SoftBank. Platform partners include Nvidia, Microsoft, and Amazon Web Services. Industry estimates cited by YNet News place its annual revenue in the tens of millions of dollars.

**What valuation are Quantum Art and Classiq seeking in a SPAC merger?**
Both companies are reportedly targeting valuations between $2 billion and $5 billion in potential SPAC mergers, according to YNet News citing Calcalist. Quantum Art is noted to be seeking a lower valuation than peers like IonQ and Quantinuum — which have reached roughly $20 billion — because it has yet to establish significant revenue.

**How active is the quantum SPAC market in 2026?**
Very active, per the source reporting. Five quantum startups have already completed SPAC mergers since the beginning of 2026, another five are in advanced discussions, and roughly 30 SPACs are currently searching for quantum computing acquisition targets. The combined valuation of publicly listed quantum companies is approximately $70 billion.

**What is the risk with quantum SPAC listings?**
The primary risk is the gap between valuation and current revenue. Most quantum hardware companies remain pre-revenue or early-revenue, meaning SPAC valuations are based heavily on projected future capabilities. A prior SPAC wave in 2021–2022 resulted in significant valuation compression for companies including IonQ and Rigetti before partial recoveries. Investors should scrutinize the difference between signed commercial partnerships and contracted recurring revenue.