Pasqal shares surge 40% in Nasdaq debut as quantum computing gains momentum
“Shares of French quantum-computing company Pasqal surged as much as 73% in their Nasdaq debut on Friday before paring gains to trade around 40% higher. Pasqal, regarded as one of Europe’s leading conte…”
Pasqal, regarded as one of Europe’s leading contenders in the race to develop commercially useful quantum computers, began trading following its merger with blank-cheque company Bleichroeder Acquisition Corp II. The transaction valued the company at approximately $2 billion.
The merger provided the loss-making company with around $360 million in cash, which it plans to use to expand production. Pasqal’s market debut comes amid a broader technology boom driven by growing investment in artificial intelligence and increasing interest in next-generation computing technologies.
The debut also follows US President Donald Trump’s order to accelerate quantum technology development. The US Commerce Department has signed preliminary agreements involving roughly $2 billion in incentives for nine quantum companies, although Pasqal is not among the recipients.
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The French company has nevertheless received government backing through state investment bank Bpifrance, which participated in financing associated with the merger. Quantum processors are being developed to tackle highly specialised problems in areas including drug discovery, materials science and financial modelling.
However, persistent errors and technical challenges have so far limited their reliability and ability to operate at large scale. Google expects uniquely quantum applications to emerge within five years, while IBM is targeting a large-scale, fault-tolerant quantum computer by 2029.
Industry experts, however, have offered widely varying timelines, and the sector has yet to identify a breakthrough application comparable to artificial intelligence’s rapid commercial expansion. Pasqal co-founder Alain Aspect shared the 2022 Nobel Prize in Physics for work proving quantum entanglement, a fundamental phenomenon underlying quantum computing.
His subsequent research into controlling atoms with lasers contributed more directly to the technology used in Pasqal’s processors. Pasqal generated €16.5 million in revenue in 2025 and is among the relatively small number of quantum-computing companies that already have commercial contracts.
Its customers include Saudi Aramco, the world’s largest oil company, which is exploring the use of Pasqal’s quantum machines to model underground reserves. The company has deployed seven quantum machines, including four at national supercomputing centres in France, Germany, Italy and Canada.
Pasqal said its manufacturing facilities in France and Canada have combined capacity to produce up to 13 machines annually.
Written by Hania Amir
Aman-e-Pakistan Senior Journalist & Bureau Reporter
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