Xanadu Quantum Technologies' shares rose from under $8 to about $40 in six sessions, lifting market cap above $11 billion.
Founder and CEO Christian Weedbrook, holding 15.6% stake, now has a share value exceeding $1.6 billion, making him a billionaire.
The rally was triggered by Nvidia’s release of open‑source AI models supporting quantum computing research earlier that week.
Xanadu reported $4.6 million revenue last year and $55.2 million R&D spend in 2025, with no near‑term profit expected.