Ahead of the Quantinuum IPO, Should You Buy Honeywell Stock?

Shares of industrial technology solutions provider Honeywell International (HON) are up this week after reports emerged that the company is looking to go for an initial public offering (IPO) of its quantum computing unit, Quantinuum. Unlike other quantum computing players in the market, which focus primarily on one layer of the quantum stack, Quantinuum builds and integrates both quantum hardware and software to deliver end-to-end quantum solutions.

Although the details of the proposed IPO are yet to come to light, the company was valued at about $10 billion after a recent fundraise of roughly $600 million from marquee investors such as Nvidia's (NVDA) NVentures venture capital arm, Amgen (AMGN), and JPMorgan (JPM).