Quantum Computing Inc raises an additional ~$750M, reaching ~$1.5B liquidity to fund TFLN volume production
In mid-November 2025 (reported 2025-11-17, shares up ~21% premarket) Quantum Computing Inc. (Nasdaq: QUBT) outlined a path to volume manufacturing at its Tempe Fab 1 TFLN photonic foundry and disclosed that, subsequent to Q3 (which ended with $352M cash and $461M investments), it had raised an additional ~$750 million, bringing total liquidity to over $1.5 billion to fund engineering, manufacturing, facility build-out, hiring and foundry expansion. Disclosed via Form 8-K and press.
A ~$750M raise lifting liquidity past $1.5 billion, paired with a stated transition from prototype to volume TFLN-foundry production, is a material capitalization-and-capacity event for a pre-revenue pure-play; the scale of capital clears the publish bar even as it sharpens the cash-raised-versus-revenue-recognized scrutiny.
A >$1.5B war chest lets QCi self-fund a foundry build-out rather than depend on customer revenue, an aggressive bet that volume TFLN-photonic manufacturing demand materializes; dilution and execution against the volume-production roadmap are the central risks.