15:15:39 EDT Mon 31 Aug 2026
Enter Symbol
or Name
USA
CA



Xanadu Quantum Technologies Ltd
Symbol XNDU
Shares Issued 52,668,260
Close 2026-08-28 C$ 14.64
Market Cap C$ 771,063,326
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Globe says feds move to keep Xanadu on Team Canada

2026-08-31 06:47 ET - In the News

The Globe and Mail reports in its Saturday edition that Xanadu Quantum Technologies has secured $195-million in federal funding to support the building of an advanced photonics research, development and manufacturing facility in Toronto. The Globe's Sean Silcoff writes that the Toronto-based quantum computer developer, which went public in March, is also negotiating for up to an equal amount of funding from the Ontario government. The project, located in a 158,000-square-foot facility on the site of a former Campbell's soup plant in Etobicoke, is expected to cost $893-million. While the federal government has provided financial support for Canada's fertile quantum technologies sector for decades, Ottawa is under pressure to provide hundreds of millions more to keep domestic players from relocating abroad. The stakes are high as the Canada-U.S. trade war worsens, which Evan Solomon, the minister in charge of digital innovation, alluded to as he announced the funding at the empty facility Friday. Several U.S. states, including Illinois, Colorado and Maryland, have been aggressively courting quantum companies from Canada and elsewhere with incentives to locate in their jurisdictions with the backing of the U.S. government.

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