Infleqtion and Churchill Capital Corp X have announced a definitive agreement for a business combination to accelerate Infleqtion's mission in quantum technology, expected to result in approximately $540 million in gross proceeds.

Information on the Target

Infleqtion is a leading innovator in the realm of neutral atom-based quantum technology. The company focuses on transforming quantum advancements into practical solutions that enhance human capabilities. Infleqtion designs, constructs, and markets quantum computers, precision sensors, and related software solutions targeted at governments, corporations, and research institutions. With a pioneering approach utilizing neutral atom technology known for its scalability and cost-effectiveness, Infleqtion is well-positioned to deliver both quantum computing and precision sensing functionalities through a unified product architecture.

Infleqtion’s product lineup includes quantum computers, quantum clocks, RF receivers, and inertial sensors, each optimized for deployment in real-world scenarios. Their technology is already in use by notable clients such as NVIDIA, NASA, and the U.S. Department of Defense, yielding approximately $29 million in revenue over the past twelve months ending June 30, 2025. This impressive figure reflects a compounded annual growth rate of approximately 80% over the last two years. By the close of 2025, Infleqtion anticipates approximately $50 million in booked and awarded business, alongside a potential customer pipeline exceeding $300 million, suggesting a robust growth outlook.

Industry Overview in the Target’s Specific Country

The quantum technology sector in the United States has been experiencing remarkable growth, driven by increased investments from both private and public sectors. With projections ind