Singapore Marks Major Milestone in Quantum Race

Singapore-based Horizon Quantum has become the first private company to deploy a commercial quantum computer in the city-state, marking a breakthrough moment as the start-up prepares for its planned U.S. listing. The deployment also makes Horizon Quantum the first pure-play quantum software firm to operate its own quantum machine, underscoring Singapore’s growing position in the global quantum technology race.

The announcement comes as governments and major tech corporations accelerate investments in next-generation computing, with Singapore’s own S$300 million National Quantum Strategy signaling the region’s rising ambitions.

A Homegrown System Built for Real-World Applications

Founded in 2018 by quantum researcher Joe Fitzsimons, Horizon Quantum said its newly operational machine cost $2.3 million to assemble. The system integrates hardware from top quantum suppliers, including Maybell Quantum, Quantum Machines, and Rigetti Computing, creating a hybrid setup designed specifically for software testing and real-world experimentation.

Fitzsimons told CNBC that the new test bed will help developers understand how to fully leverage quantum systems. While Horizon remains primarily a software company, he emphasized that gaining visibility into the hardware layer is crucial to push quantum programming forward.

“Our focus is on helping developers harness quantum computers for real-world work,” Fitzsimons said. “Although we’re focused on the software side, it’s important to understand how the stack works down to the physical level.”

Quantum Technology Edges Closer to Practical Use

Horizon Quantum intends to use the system to advance applications across high-value sectors such as pharmaceuticals, finance, and materials science. Quantum computers are built to solve problems too complex for classical machines by exploiting principles like superposition and entanglement.

Tasks such as molecular simulation for drug development or running millions of risk-scenarios in finance can take enormous time and computational resources using conventional systems. Quantum computing promises faster, more accurate modeling, though today’s machines still face significant engineering and programming limitations.

Industry leaders, however, believe the technology is nearing practical utility. A Google quantum computing executive forecast earlier this year that usable quantum applications could be as little as five years away. Major players including Google (Alphabet), Microsoft, Amazon, IBM, and U.S. government agencies continue to pour millions into research.

Investor enthusiasm spiked further in June after Nvidia CEO Jensen Huang said the technology is nearing an “inflection point.”

Positioning for Nasdaq Debut

The announcement also comes as Horizon prepares for a public listing via SPAC merger with dMY Squared Technology Group. The deal, agreed in September, values Horizon Quantum at $503 million and is expected to close in the first quarter of 2026, with the company trading under the ticker “HQ.”

The deployment strengthens Singapore’s ambition to be a regional quantum computing hub. Prior to Horizon’s system, the city-state had only one research-focused quantum computer. U.S.-based Quantinuum also plans to install a commercial system locally by 2026.

The country’s National Quantum Strategy, launched in 2024, allocates S$300 million over five years to support research, commercial development, and local processor manufacturing — a sign that Singapore intends to compete in one of the world’s most strategically important technology races.