Xanadu Quantum Technologies is trading at $5.04, up 5.7% in pre-market on September 29, 2026. RBC Capital initiated coverage with an Outperform rating and a $16 price target, citing exposure to quantum computing and a path towards a fault-tolerant quantum data center. The company also announced a multi-million-dollar strategic partnership with Bluefors to develop cryogenic infrastructure for utility-scale quantum computing.