Xanadu Quantum Technologies Limited (XNDU)

Xanadu Quantum Technologies Limited is a Toronto-based quantum computing company whose Class B subordinate voting shares trade on the Nasdaq. Founded in 2016, Xanadu pursues a photonic approach to quantum computing, using particles of light traveling through integrated optical chips rather than superconducting circuits or trapped ions.

The company develops quantum hardware aimed at building fault-tolerant, modular machines that can be networked together, and it has demonstrated photonic systems such as its Borealis and Aurora machines. Its photonics approach is intended to operate largely at room temperature and to leverage semiconductor manufacturing techniques.

Xanadu is also known for PennyLane, an open-source software framework for programming quantum computers and quantum machine learning, which is used by researchers and developers across many hardware platforms. The company became publicly traded through a combination with a special purpose acquisition company.