Pasqal begins Nasdaq trading after $2 billion merger

French quantum-computing company Pasqal began trading on Nasdaq after merging with Bleichroeder Acquisition Corp II, a transaction that valued the company at about $2 billion, Reuters reported. Its shares rose as much as 73% in their debut before trading about 40% higher. Reuters said the deal left the loss-making company with roughly $360 million in cash to expand production. Pasqal reported €16.5 million in 2025 revenue and said it has deployed seven machines, including four at national supercomputing centres.