Churchill Capital Corp X (NASDAQ:CCCX) shares are trading higher Tuesday morning as investors react to fresh momentum around its merger target Infleqtion, which has just been tapped to help fly the world's first quantum gravity sensor to space with NASA's Jet Propulsion Laboratory.
Here’s what investors need to know.
Infleqtion SPAC Deal Nears Listing
Infleqtion will supply the quantum core for NASA's Quantum Gravity Gradiometer Pathfinder mission, a more than $20 million program that aims to launch a dedicated low-Earth-orbit satellite capable of mapping tiny variations in Earth's gravitational field.
The sensor, based on ultracold atoms manipulated by lasers, is designed to track mass shifts in water, ice and land with unprecedented precision, potentially improving monitoring of groundwater, climate dynamics and natural resources.
“Quantum sensing opens an entirely new domain for U.S. space leadership,” said Dana Anderson, chief science officer at Infleqtion. “By deploying this technology in orbit, we are demonstrating the feasibility of quantum gravity sensing in space and laying the groundwork for future capabilities that can deliver unprecedented insight into our planet.”
Infleqtion SPAC Merger Showcases Quantum Strength
The deal underscores the commercial promise of Infleqtion, a neutral-atom quantum computing and sensing specialist originating from the University of Colorado.
The company builds quantum computers, atomic clocks, RF receivers and navigation systems, backed by more than 230 issued and pending patents and a technical bench of over 130 PhD scientists.
Infleqtion is set to go public via SPAC merger with Churchill Capital Corp X at a roughly $1.8 billion valuation, with about $540 million in gross proceeds expected, including over $125 million from a PIPE financing. The combined company is expected to be listed on the NYSE under the ticker “INFQ” later this month.
In a new post from Citron Research, the firm said Tuesday morning that it added to its position in the company, citing recent contracts, government validation, real partners and legitimate use cases.
CCCX Price Action: Churchill Capital shares were up 10.27% at $12.13 at the time of publication on Tuesday, according to Benzinga Pro data.
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