Quantum Leadership: Infleqtion’s quantum technology merger with Churchill Capital Corp X boosts its neutral atom platform.
Financial Strength: Over $540M in proceeds will accelerate product development and market expansion.
Commercial Traction: $29M in revenue and a $300M+ customer pipeline signal strong growth potential.
Infleqtion’s Quantum Technology Merger
Infleqtion, a leader in neutral atom quantum technology, announced a merger with Churchill Capital Corp X (NASDAQ: CCCX) on September 8, 2025, in Boulder, Colorado, and New York. This quantum technology merger will strengthen Infleqtion’s mission to deliver quantum computing and precision sensing solutions, positioning the combined company, set to trade as “INFQ” on a major North American exchange.
Infleqtion’s innovative approach leverages neutral atom technology, recognized for its scalability and cost efficiency. Consequently, the company has already deployed quantum computers and sensors to clients like NVIDIA, the U.S. Department of War, and NASA. With a robust $29 million in trailing twelve-month revenue as of June 30, 2025, and a potential $300 million customer pipeline, Infleqtion is well-positioned to capitalize on the growing quantum market, projected to exceed $160 billion by 2040.
“Quantum is a defining technology opportunity of the coming decade, and we see neutral atoms as the modality best positioned to succeed.”
— Kenneth Safar, Managing Director, Maverick Silicon
Why This Merger Matters
The merger, valuing Infleqtion at a $1.8 billion pre-money equity, offers an attractive entry point for investors. For example, the transaction secures over $540 million in gross proceeds, including $416 million from Churchill X’s trust account and $125 million from a private investment in public equity (PIPE) led by investors like Maverick Capital and Morgan Stanley’s Counterpoint Global. These funds will strengthen Infleqtion’s debt-free balance sheet and accelerate its roadmap, expanding applications in artificial intelligence (AI), national security, and space exploration.
“Churchill Capital is proud to partner with companies that are shaping the future of technology. Infleqtion stands out with its breakthrough neutral atom platform and proven engineering capabilities, already delivering meaningful impact in quantum computing and sensing.”
— Michael Klein, Chairman and CEO, Churchill Capital Corp X
Infleqtion’s leadership in neutral atom technology, lead by founder Dana Anderson, enables a unique “build once, tailor to multiple markets” model. This Quantum Core powers diverse products like quantum computers, clocks, and inertial sensors, ensuring capital efficiency. Moreover, Infleqtion’s technical achievements—1,600 physical qubits, 99.73% entangling fidelity, and real-world logical qubit applications—position it among the top players advancing quantum advantage.
Commercial and Strategic Impact
Infleqtion’s commercial momentum is undeniable, with revenue growing at an 80% compound annual growth rate (CAGR) over two years. The company has secured $50 million in booked and awarded business, reflecting multi-year value, and serves critical clients like the U.K. government. Additionally, its partnerships with governments investing over $40 billion in quantum underline its strategic importance for national security.
“We have reached a critical inflection point in our journey from R&D to commercialization, and this partnership is a testament to our team’s incredible work.”
— Matt Kinsella, CEO and founding investor, Infleqtion
The merger’s proceeds will fuel Infleqtion’s expansion into new markets, enhancing AI capabilities and developing scalable solutions for defense and commercial sectors. For instance, Infleqtion’s quantum hardware already extends GPU capabilities through contextual machine learning software, offering immediate performance gains.
Looking Ahead
Infleqtion’s merger with Churchill X marks a pivotal moment for quantum technology. With a strong balance sheet—$88 million in cash and $21 million in cash burn as of June 30, 2025—and no shareholder sell-off, the company is prepped for growth. Infleqtion’s focus on neutral atom technology signals a bright future.
