HOBOKEN, NJ, February 02, 2026 -- Quantum Computing Inc. (“QCi” or the “Company”), an innovative, quantum optics and integrated photonics technology company, today announced the completion of acquiring Luminar Semiconductor, Inc. (“LSI”), a wholly owned subsidiary of Luminar Technologies, Inc. (“Luminar”), in an all-cash transaction valued at $110 million (the “Transaction”).

The acquisition represents a significant milestone in QCi’s strategy to build a vertically integrated, product-driven photonics and quantum technology platform. The acquisition supports the Company’s long-term strategic roadmap and is expected to add annual revenue to QCi’s financial profile.

“This acquisition allows us to move forward with a combination that is highly strategic for QCi,” said Yuping Huang, CEO and Chairman of the Board of QCi. “LSI is important to our technology roadmap, and the deep technical expertise of the LSI team will be key to our joint success. While much of the industry remains tethered to large-size, cryogenic systems, QCi now owns the architecture required to deliver chip-scale quantum hardware that operates at room temperature. By integrating our thin-film lithium niobate (TFLN) platform with LSI’s lasers, detectors, packaging, and manufacturing capabilities, we gain ownership of the photonics signal chain from light generation through detection and processing, enabling us to shrink complex quantum systems into high-performance, compact products that are mass producible. This acquisition accelerates our transition from technology innovation to scalable manufacturing, reinforcing our mission to put quantum-enabled solutions into the hands of people.”

LSI brings established capabilities in lasers, detectors, advanced packaging, and manufacturing, complementing QCI’s leadership in TFLN integrated photonics. Together, the combined platform enables end-to-end control of photonic system design and manufacturing, positioning QCi as a vertically integrated photonics leader.

The transaction is expected to be supported by a fully domestic manufacturing platform, aligning with demand for U.S.-based technology solutions and reshoring initiatives. This positioning can enhance QCi’s ability to serve government and defense-related customers, including aerospace and national security applications.

LSI will operate as a wholly owned subsidiary of QCi, maintaining its long-standing commercial relationships in aerospace, defense and industrial markets. These programs provide near-term revenue visibility and a strategic foothold for QCi to expand its offerings into established markets over time. Leveraging LSI’s experience developing and deploying mission-critical hardware, its veteran engineering team and extensive patent portfolio add the industrial depth needed to advance QCi’s quantum innovations from technology to scalable manufacturing.

On January 12, 2026, the Company announced that it had also submitted a stalking horse bid for certain of Luminar Technologies’ LiDAR assets. The Company ultimately elected not to pursue the acquisition of these assets consistent with its disciplined approach to capital allocation and long-term value creation.

Additional details regarding integration plans and future milestones will be shared in the coming months.