Nvidia Invests $600M in Honeywell’s Quantinuum
Nvidia's venture capital unit is making its first investment in Honeywell's quantum computing unit, Quantinuum. This investment is part of a $600 million funding round that values Quantinuum at $10 billion. The new funding aims to advance Quantinuum's quantum computing capabilities and support the launch of Helios, its next-generation quantum computing system.
Honeywell CEO Vimal Kapur expressed confidence in Quantinuum's ability to lead the quantum revolution and create long-term value for investors and customers. Following the news, stocks of other quantum computing companies like IonQ, Rigetti Computing, Arqit Quantum, Quantum Computing, and D-Wave Quantum saw an increase.
Additionally, IonQ announced the results of a collaborative research program with AstraZeneca, Amazon Web Services, and Nvidia. The research focused on a crucial step in a Suzuki-Miyaura reaction, a chemical transformation used in synthesizing small molecule drugs, achieving over 20 times improvement in solution time compared to previous benchmarks.
AI-related stocks were active following weaker-than-expected guidance from Salesforce. Wall Street analysts noted that the promise of artificial intelligence has yet to become a turning point for the company. Evercore ISI analyst Kirk Materne commented that while the quarter did not unlock the bull case, stabilization in second-half revenue is sufficient to shift sentiment positively.
C3.ai's stock fell after reporting shaky quarterly results, withdrawing guidance, and its founder stepping down from CEO duties. KeyBank analyst Eric Heath significantly lowered revenue estimates for FY26/FY27 and projected large free cash flow losses through FY28.
In the AI sector, SoFi Technologies re-entered the ETF market with the launch of the SoFi Agentic AI ETF. AGIQ tracks U.S.-listed companies involved in self-driving transportation, AI assistants, cybersecurity, autonomous machinery, and enabling technologies like semiconductors and cloud computing.
Apple is reportedly developing an AI-driven web search feature called World Knowledge Answers, expected to launch in spring 2026 as part of a major Siri overhaul. Bloomberg reports that the technology may eventually be added to Safari and Spotlight.
On the economic front, job data showed softness ahead of Friday's payroll report. Challenger, Gray & Christmas reported a 39% increase in layoffs in August. Total job cuts in 2025 have already surpassed all of 2024, marking the highest year-to-date total since 2020.
However, the services sector saw an unexpectedly strong rebound last month. The ISM Non-Manufacturing Index rose to 52 in August from 50.1 in July, exceeding the consensus of 50.9. Wells Fargo economists attributed the move to a jump in new orders, reflecting temporary pull-forward effects around tariffs.
In other news, HHS Secretary Robert F. Kennedy Jr. is reportedly seeking to replace members of a key CDC panel that makes vaccine recommendations. This potential move comes two weeks before a key meeting of the Advisory Committee on Immunization Practices. Inside Medicine reported that seven new panel members have been selected but not yet formally appointed.