Intel Acquires Israeli Quantum Startup Classiq in Multi-Billion-Dollar Deal

Israeli quantum computing company Classiq has been acquired by tech giant Intel in a deal valued at more than $2 billion.

American chipmaking giant Intel has signed an agreement to acquire Israeli quantum computing startup Classiq, news outlets Globes and ynet reported. The reports showed a slight discrepancy regarding the transaction's valuation: ynet reported the deal at $2.3 billion, while Globes cited an acquisition value of $2.2 billion.

Classiq's co-founder and chief executive, Nir Minerbi, said that prior to discussions with Intel, the company had considered an initial public offering in New York or a merger via a special purpose acquisition company (SPAC). According to Minerbi, Intel intends for Classiq to serve as the strategic and business lead for all of its quantum computing operations, and that activity will be led from Israel.

Further details regarding the transaction have not yet been released.