Canadian Quantum Computing Firm Xanadu to Go Public on Nasdaq via $3.6 Billion SPAC

Published: 04 Nov 2025

Author: Precedence Research

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Xanadu Quantum Technologies, based in Canada, will go public soon on Nasdaq with the help of blank-check firm Crane Harbor Acquisition, in a $3.6 billion deal, according to the company's announcement. The Xanadu firm is expected to raise nearly $500 million through the SPAC deal, which includes a $275 million private investment in public equity. 

It is well known that quantum computers are highly efficient at solving problems that conventional computers cannot solve with existing technologies. Quantum computers offer solutions beyond the ability of conventional computers. Technology has evolved from mere theoretical promise and basic problem-solving to a practical roadmap for the commercialization of cutting-edge technologies. This is possible due to the increased focus on tech leaders like IBM, Microsoft, and Google, which introduced a groundbreaking algorithm last month. Moreover, recently, JPMorgan Chase, the U.S. banking giant, also emphasized the benefits of quantum computing by participating in an initiative valued at $1.5 trillion. 

Qubits are the units of quantum particles and the building blocks of quantum computing, which can compute the minute reactions of trillions of atoms or cells over time. This property makes them highly significant and incomparable for breakthroughs in medicinal and material science. On the other hand, classical computers will take approximately a thousand years to perform similar tasks. 

Though quantum computers are highly prone to errors due to small fluctuations in their environment, this makes them vulnerable to integration with high-value tasks. It is creating debate over its usefulness and practicality among tech leaders and thinkers. On the other hand, some institutes are rigorously experimenting to address the issue of quantum collapse. 

In September, Infliction, a quantum computing startup, agreed to go public via a $1.8 billion SPAC deal with a blank-check company directed by veteran Wall Street dealmaker Michael Klein. SPACs are shell companies that collectively save money via IPOs to merge with private firms and take them public thereafter.