Huge exit: Intel acquires Israeli Classiq for $2.3 billion

Intel is acquiring the Israeli quantum computing company Classiq for $2.3 billion in stock and cash. This is the largest acquisition deal of a quantum company to date. Classiq, founded in 2020 and employing 150 people, develops an operating system for quantum computers. The three founders are expected to receive $80-100 million each.

Intel is acquiring the Israeli company Classiq, which develops an operating system for quantum computers, for $2.3 billion in stock and cash. This is the largest acquisition deal of a quantum company to date, significantly surpassing the previous largest deal – IONQ's acquisition of Oxford Ionics for $1 billion last year. For Intel, this is its first major acquisition in six years, since acquiring Mobileye for $1 billion. Classiq was founded in 2020 by Nir Minerbi, Amir Naveh, and Prof. Yehuda Naveh, and employs 150 people. The company has raised $200 million to date, with its last round in 2025 at a valuation of $600-700 million. Employees hold 10% of the shares and will receive $230 million, in addition to $100 million allocated by Intel for retention grants. The three founders are expected to receive $80-100 million each. Major investors include the Entree Capital fund, which will receive over $300 million, and TEAM8 CAPITAL, which holds 9%. Unlike many exits, Amitai Phoenix, which holds 7.5%, is also expected to benefit from the deal. Intel CEO Lip Bu Tan, who was a private investor in Classiq, recused himself from the acquisition discussions. The acquisition is expected to attract increased investor attention to the quantum field in Israel.