Two Israeli quantum startups are chasing multibillion dollar SPAC listings on Wall Street

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Quantum Art and Classiq both eyeing public markets

Quantum Art and Classiq, two Israeli quantum computing startups, are reportedly in advanced negotiations to go public through SPAC mergers, each targeting valuations between $2 billion and $5 billion. Both companies declined to comment, but sources say roughly 30 SPACs are currently hunting for acquisition targets specifically in quantum computing, including an Israeli SPAC founded by Tom Livne and Eyal Waldman that recently raised $172 million

Two very different businesses chasing the same route

Quantum Art, a 2022 spinoff from Prof. Roee Ozeri's group at the Weizmann Institute, is building a full scale trapped ion quantum computer and has raised roughly $200 million total, including a Series A extended to $140 million in April. Classiq takes a completely different approach, building an operating system meant to work across different quantum computers, something founder ambitions compare to becoming quantum computing's equivalent of Microsoft Windows. It counts AMD, Qualcomm, IonQ and SoftBank among its investors, and already generates tens of millions in annual revenue from customers including Comcast, BMW, Rolls-Royce, Citi and Toshiba

The broader Israeli quantum wave

Israel runs about 20 quantum startups out of roughly 270 worldwide, and on a per capita basis is producing them at one of the highest rates anywhere, roughly one in every 300 Israeli startups works in quantum computing compared to about one in 2,000 in the US. Since the start of 2026, five quantum startups globally have already gone public through SPAC mergers, with five more in advanced stages, together worth roughly $70 billion, though most of that valuation concentrates in just a couple of names, IonQ and Quantinuum are each worth around $20 billion, dwarfing the rest of the pack

The SPAC route's uncomfortable subtext

Despite the stigma still attached to SPACs after their 2021 collapse, they've become the preferred path for quantum companies, many of which remain years away from meaningful revenue. Valuations lean almost entirely on expected future breakthroughs rather than current financials, with revenue multiples routinely exceeding 100 times sales, Rigetti Computing, for comparison, carries roughly a $7 billion valuation on only about $7 million in annual revenue. Quantum Art specifically isn't expected to command valuations near IonQ or Quantinuum since it hasn't generated meaningful revenue yet, but the company is betting on riding the same wave of investor enthusiasm around trapped ion technology regardless

Two Israeli quantum startups target Wall Street in multibillion-dollar SPAC deals | CTechwww.calcalistech.com