Evening Scan

Quantinuum's IPO priced above range and upsized — a clean win for quantum's credibility when most of the sector remains pre-revenue. Broadcom beat on revenue but missed AI chip guidance, dropping 12% after hours. Apparently "almost" doesn't count in the semiconductor race.

$15.6B — Quantinuum's post-IPO valuation, for a company in a sector that still largely sells potential. (Bloomberg)

Quantinuum Prices IPO at $1.68B, Setting a New Bar for Quantum

Priced at $60 against a $53–$55 marketed range and upsized. Investors didn't just show up; they pushed. (The Next Web)

Broadcom Q2 Up 48% YoY — Then the AI Forecast Landed

Broadcom beat revenue but missed Q3 AI semiconductor guidance. The stock dropped 12% after hours. (Reuters)

Benchmark Raises $2B, Including Its First-Ever Growth Fund (paywall)

After two decades at ~$425M and refusing late-stage checks, Benchmark just broke both rules with a $1.25B growth vehicle. (Wall Street Journal)

Meta Accuses Australia of Breaching Free Trade Agreement Over News Tax

Australia's proposed levy on tech giants that skip news licensing deals has drawn a formal trade complaint. Meta is playing a bigger card than expected. (Reuters)