Quantum Computing to Buy NHanced Semiconductors in $73 Million Mixed Deal
The acquisition launches QCi's second fabrication facility, accelerating its thin-film lithium niobate platform toward commercial-scale production.
Quantum Computing Inc. (QUBT) agreed to acquire NHanced Semiconductors, Inc. in a mixed cash-and-stock transaction valued at $73.1 million, subject to customary adjustments, with up to an additional $72.0 million payable if certain performance targets are met.
The deal significantly enhances QCi's nanophotonics manufacturing capabilities and launches what the company calls Fab 2, a larger production facility designed to support higher-volume output of quantum and photonic technologies. The transaction builds on QCi's operationalization of Fab 1, a small-scale manufacturing facility in Tempe, Arizona, completed last year.
"The acquisition of NHanced significantly enhances our nanophotonics manufacturing capabilities and strengthens QCi's ability to execute its long-term growth strategy," said Yuping Huang, CEO of QCi. Huang added that the expanded manufacturing footprint would "increase production flexibility, enhance operational resilience and support future revenue growth," while accelerating the company's thin-film lithium niobate photonic integrated circuit platform.
The NHanced acquisition continues an aggressive M&A campaign by QCi. In February 2026, the company completed its $110 million all-cash acquisition of Luminar Semiconductor, Inc., a subsidiary of Luminar Technologies, which brought established capabilities in lasers, detectors, advanced packaging, and manufacturing. That deal was followed by the $5 million acquisition of NuCrypt, LLC, a quantum communications technology company, in March 2026.
The broader quantum sector has seen a wave of vertically integrated dealmaking. In January 2026, IonQ (IONQ) announced an agreement to acquire SkyWater Technology for approximately $1.8 billion in a cash-and-stock transaction, a deal designed to create what the companies described as the only vertically integrated full-stack quantum platform. Both IonQ and QCi are pursuing domestic manufacturing control as a strategic imperative.
QCi ended the first quarter of 2026 with approximately $1.4 billion in cash, cash equivalents, and investments, providing substantial balance-sheet capacity to fund acquisitions and capital expenditures. The company reported first-quarter revenue of $3.7 million, up from $39,000 a year earlier, driven primarily by its recent acquisitions. The NHanced transaction is expected to further accelerate QCi's path to commercial-scale production across its quantum and photonics verticals.