IQM Inaugurates 54 Quantum Computer at CINECA
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 11 2026
0mins
The Italian Research Centre on High Performance Computing, Big Data, and Quantum Computing inaugurated the IQM Radiance 54 quantum computer at CINECA enabling advanced applications in optimization, simulation, and machine learning. IQM has previously announced its ongoing business combination with Real Asset Acquisition Corp, which will result in IQM becoming a public company in mid-2026. The installation, located at the CINECA headquarters in the DAMA Tecnopolo in Bologna, represents not just technological progress but a strategic Italian asset providing concrete tools for the scientific community and businesses to foster innovation, accelerate research, and transform knowledge into high-impact applications. IQM Radiance, named NOX, is being integrated into Leonardo. The objective is to provide researchers with a production-ready environment for experimentation with integrated classical-quantum computing paradigms.
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About RAAQ
Real Asset Acquisition Corp. is a blank check company. The Company is formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an initial business combination in any industry, sector or geographic region. The Company intends to focus its search initially on identifying companies in sectors underpinned by real assets, including metals and mining, real estate, infrastructure and adjacent sectors. The Company has not generated any operating revenues.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Production Quantum Model: IQM's full-stack superconducting systems enable organizations to deploy quantum computing within their own data centers, ensuring hardware ownership and retention of intellectual property, thereby enhancing strategic independence and competitive advantage.
- Open Architecture Advantage: IQM systems are compatible with standard frameworks such as Qiskit and Cirq, allowing customers to build on open foundations rather than relying on a single proprietary path, providing greater flexibility for innovation.
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See More
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- Market Recognition: IQM has been named a major player in the IDC MarketScape Worldwide Quantum Computing 2026 Vendor Assessment, highlighting its leadership in the quantum computing sector as institutions shift from shared cloud access to proprietary infrastructure.
- Production Quantum Model: IQM's full-stack superconducting systems enable organizations to deploy quantum computing within their own data centers, ensuring hardware ownership and retention of intellectual property, thereby enhancing strategic independence and competitive advantage.
- Open Architecture Advantage: IQM systems are compatible with standard frameworks such as Qiskit and Cirq, allowing customers to build on open foundations rather than relying on a single proprietary path, providing greater flexibility for innovation.
- Comprehensive Control: IQM manages the entire process from chip design to system delivery, ensuring customers have visibility and control over their upgrade paths, further solidifying its competitive position in the quantum computing market.
See More
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- Quantum Error Correction Breakthrough: IQM Quantum Computers introduces directional tile codes that reduce logical error rates by up to 1,000 times, significantly enhancing fault tolerance and laying the groundwork for large-scale quantum computing by 2030.
- Hardware Compatibility Improvement: This technology utilizes existing nearest-neighbour iSWAP gates on IQM's Crystal processors, ensuring efficient error correction without additional hardware requirements, while maintaining a footprint of around 30 physical qubits per logical qubit.
- Academic Collaboration Success: The research, co-authored by IQM and collaborators from Freie Universität Berlin, the University of Edinburgh, and Johannes Gutenberg-Universität Mainz, highlights the importance of partnerships between academia and industry in advancing quantum technology.
- Market Leadership Position: IQM has sold 23 quantum systems globally, establishing itself as a leader among quantum computer manufacturers, and plans to merge with Real Asset Acquisition Corp. for a Nasdaq listing, further solidifying its market position.
See More
IQM Quantum Computers Partners with HPE to Advance Quantum Applications
- Quantum Computer Installation: IQM successfully installed its first on-premises quantum computer at Oak Ridge National Laboratory in the U.S., marking a significant advancement in high-performance computing and enhancing customer confidence in quantum technology.
- Global Sales Achievement: With 23 quantum systems sold globally, IQM has become the leading quantum hardware manufacturer by sales volume, which is expected to solidify its foundation for a future Nasdaq listing.
- Strategic Collaboration: The partnership with Hewlett Packard Enterprise integrates IQM's superconducting quantum processor technology with HPE's Cray supercomputing infrastructure, advancing the integration of quantum and classical computing and elevating IQM's strategic position in the industry.
- Funding Support: IQM recently announced the successful completion of over $146 million in PIPE financing, with a new commitment from Finnish pension giant Ilmarinen, demonstrating growing institutional confidence in its future development.
See More
IQM Quantum Computers Appoints New Executives Ahead of Nasdaq Listing
- Executive Appointments: IQM Quantum Computers has appointed Craig Ciesla as Chief Technology Officer and Inés de Vega as Chief Scientist, aiming to strengthen the company's technological leadership in preparation for its upcoming Nasdaq listing.
- Technology Strategy Advancement: With over 25 years of experience in deep tech, Ciesla will be responsible for driving the implementation of IQM's technology strategy, playing a crucial role in accelerating the development of fault-tolerant quantum computing.
- Market Leadership: Having sold 23 quantum computers, IQM has established itself as a leader in superconducting quantum computing, and Ciesla's addition is expected to further solidify its market position in high-performance computing.
- Funding Progress: As the merger with Real Asset Acquisition Corp. advances, IQM successfully completed a $146 million PIPE financing in June, reflecting strong market confidence in its future growth.
See More
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- Increased Enterprise Engagement: The 'State of Quantum 2026' report reveals that 89% of surveyed enterprises are engaged in quantum computing, yet only 3% have achieved scaled deployment, indicating a shift from access to capability building, necessitating faster transformation to maintain competitiveness.
- Quantum Readiness Index: The report introduces the Quantum Readiness Index, with a global average score of 58, placing it in the 'Developing' tier, suggesting that while hiring and budgeting are progressing, proprietary output and scaled deployment remain lacking, highlighting the need for technological accumulation to face future challenges.
- Changing Investment Trends: Quantum computing attracted $8.3 billion in investment in 2025, nearly five times the previous year, indicating a market shift towards valuing verifiable milestones over mere ambition, compelling companies to demonstrate actual results to attract capital rather than relying solely on vision.
- Skills Shortage Issue: Over 66% of large enterprises and universities cite skills shortages as a primary barrier to quantum computing development, emphasizing that organizations must begin talent development immediately to secure a competitive edge in the future quantum computing market.
See More
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- Capital Markets Day Highlights: At its inaugural Capital Markets Day held at Nasdaq, IQM showcased its growth strategy, technology roadmap, and commercial vision, capturing the attention of investors and industry stakeholders, which is expected to accelerate global adoption of quantum computing.
- Sales Achievement: Having sold 23 quantum computers to date, IQM stands as the leading manufacturer in sales volume, a milestone that not only enhances the company's market position but also strengthens its competitive edge in the rapidly evolving quantum computing sector.
- Business Combination Plan: IQM has entered into a definitive business combination agreement with RAAQ, anticipated to close in mid-2026, at which point IQM plans to list on the Nasdaq Global Market, further amplifying its influence in the capital markets.
- Technological Leadership: IQM's full-stack superconducting quantum computers provide direct infrastructure control to research institutions and high-performance computing centers, which is expected to bolster its technological leadership in the global quantum computing arena, addressing the increasing market demand.
See More
