Xanadu Stock Climbs on Multi-Year GlobalFoundries Manufacturing Partnership

Xanadu Quantum Technologies Ltd. (NASDAQ:XNDU) shares are trading higher Tuesday after the company announced a strategic multi-year partnership with GlobalFoundries Inc. (NASDAQ:GFS) to manufacture components for utility-scale quantum computers.

Moving Xanadu’s Photonic Chips From the Lab to a 300 mm Production Line

The partnership will bring Xanadu’s ultra-low-loss silicon nitride photonics and superconducting nanowire single-photon detectors, known as SNSPDs, onto GlobalFoundries’ 300 mm production line in Malta, New York. SNSPDs read out a calculation’s results by counting the photons in a pulse of light. Xanadu has adopted them as the detector platform for its utility-scale systems, and the company expects them to substantially speed up its machines and cut the chip overhead those systems need.

The companies described the work as a shift from lab-scale prototyping to industrial-grade production. The output is expected to serve as the manufacturing foundation for Xanadu’s upcoming fault-tolerant demonstrators. The two companies are also exploring further work on high-performance quantum modules.

“Transitioning quantum computing technology to a high-volume manufacturing line is fundamental to delivering quantum computing at scale,” said Dr. Christian Weedbrook, Founder and CEO of Xanadu.

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Xanadu Shares Rush Higher

XNDU Price Action: At the time of publication, Xanadu shares are trading 7.63% higher at $4.86, according to data from Benzinga Pro.

Image: Courtesy of Xanadu