Intel Buys Classiq for $2.3 Billion, Expanding Quantum Team by 140
Updated
Updated · CTech · Oct 27
Intel Buys Classiq for $2.3 Billion, Expanding Quantum Team by 140
3 articles · Updated · CTech · Oct 27
Summary
$2.3 billion in cash and stock makes Intel’s purchase of Israeli startup Classiq the largest quantum-computing deal to date, reviving acquisition activity after a long internal freeze.
140 Classiq employees will join Intel’s roughly 70-person quantum group, with Classiq set to steer strategy from Israel and add the software layer Intel lacked to commercialize its hardware work.
Intel CTO Pushkar Ranade pitched Classiq to investors as a foundational platform for quantum machines—comparing its role to Nvidia’s CUDA and Microsoft’s DOS in conventional computing.
2020-founded Classiq had weighed a SPAC, a traditional IPO and more private funding, but its CEO said falling quantum stock valuations made a sale more attractive.
Israel already ranks among the top five countries for quantum companies and private investment, and the deal strengthens its position in a field still chasing a broad commercial breakthrough.