Software startup deploys Singapore’s first quantum computer for commercial use

Singapore-based software firm Horizon Quantum on Wednesday said it has become the first private company to run a quantum computer for commercial use in the city-state, marking a milestone ahead of its plans to list in the U.S.

The start-up, founded in 2018 by quantum researcher Joe Fitzsimons, said the machine, which costs around $2.3 million to assemble, is now fully operational. It integrates components from quantum computing suppliers, including Maybell Quantum, Quantum Machines and Rigetti Computing.

According to Horizon Quantum, the new computer also makes it the first pure-play quantum software firm to own its own quantum computer — an integration it hopes will help advance the promising technology.

“Our focus is on helping developers to start harnessing quantum computers to do real-world work,” Fitzsimons, the CEO, told CNBC. “How do we take full advantage of these systems? How do we program them?” 

Horizon Quantum builds the software tools and infrastructure needed to power applications for quantum computing systems. 

“Although we’re very much focused on the software side, it’s really important to understand how the stack works down to the physical level … that’s the reason we have a test bed now,” Fitzsimons said. 

Horizon Quantum hopes to use its new hardware to accelerate the development of real-world quantum applications across industries, from pharmaceuticals to finance.

Quantum systems aim to tackle problems too complex for traditional machines by leveraging principles of quantum mechanics.

For example, designing new drugs, which requires simulating molecular interactions, or running millions of scenarios to assess portfolio risk, can be slow and computationally costly for conventional machines. Quantum computing is expected to provide faster, more accurate models to tackle these problems.

A top executive at Google working on quantum computers told CNBC in March that he believes the technology is only five years away from running practical applications.

Still, today’s quantum systems remain in the nascent stages of development and pose many engineering and programming challenges.

Investment in the space has been rising, however, as major tech companies report technological breakthroughs. Alphabet, Microsoft, Amazon and IBM, along with the U.S. government, are already pouring millions into quantum computing.

Investor attention also received a bump in June after Nvidia chief executive Jensen Huang offered upbeat remarks, saying quantum computing is nearing an “inflection point” and that practical uses may arrive sooner than he had expected.

Horizon Quantum’s announcement comes ahead of a merger with dMY Squared Technology Group Inc., a special purpose acquisition company. The deal, agreed upon in September, aims to take Horizon public on the Nasdaq under the ticker “HQ.”

The software firm said in September that the transaction valued the company at around $503 million and was expected to close in the first quarter of 2026. 

The launch of its quantum computer also helps cement Singapore’s ambition to be a regional quantum computing hub. The city-state has invested heavily in the technology for years, setting up its first quantum research center in 2007.

Before Horizon Quantum’s system came online, Singapore reportedly had one quantum computer, used primarily for research purposes. Meanwhile, U.S.-based firm Quantinuum plans to deploy another commercial system in 2026.

Singapore’s National Quantum Strategy, unveiled in May 2024, committed 300 million Singapore dollars over five years to expand the sector, with a significant portion directed toward building local quantum computer processors.  

In May 2024, the National Quantum Strategy (NQS), Singapore’s national quantum initiative, pledged around S$300 million over five years to strengthen development in the sector, with a significant portion directed toward building local quantum computer processors.