IQM Quantum Computers (Nasdaq:IQMX) has secured a contract with the LUMI AI Factory, led by CSC – IT Center for Science, to deliver a next-generation quantum computer that will be installed at CSC’s facility in Finland.
The system, known as LUMI-IQ, is expected to be delivered in 2027 and will feature a 150-qubit quantum processing unit. It will be integrated with the LUMI AI Factory’s existing high-performance computing and artificial intelligence infrastructure, with future upgrades planned to increase both processing power and qubit capacity.
According to IQM’s prospectus published on July 1, 2026, the value of the contract is approximately equal to the company’s total revenue for the financial year ended December 31, 2025.
The project will be jointly funded by the EuroHPC Joint Undertaking together with the governments of Finland, Czechia, Norway and Poland.
LUMI-IQ will be used to advance research into quantum error correction and fault-tolerant quantum computing while providing access to researchers, developers and industrial users across Europe.
“Already the first system delivered in 2027 will come with a state-of-the-art quantum processing unit with 150 qubits,” said Mikael Johansson, Manager for Quantum Technologies at CSC. “Over the next years, LUMI-IQ will evolve into a fault-tolerant quantum computer through a series of upgrades that increase both qubit count and performance.”
Founded in 2018 and headquartered in Finland, IQM recently completed a dual listing on Nasdaq in the United States and the Helsinki Stock Exchange, which the company says makes it the first publicly traded European quantum computing company. IQM also states that it has sold 23 quantum computing systems worldwide.