Overview
- Xanadu shares were paused four times on the TSX Thursday after the price jumped as high as US$42.44 in early afternoon trading.
- Canada’s market watchdog CIRO said it triggered a single‑stock circuit breaker to curb rapid, unexplained moves that could disrupt a fair market.
- Nvidia’s Ising launch Tuesday, an open‑source AI model family meant to speed error decoding in quantum systems, helped ignite the multi‑day surge.
- The runup pushed Xanadu’s value past US$10 billion and left founder Christian Weedbrook and early backers OMERS and Georgian with large paper gains under a 180‑day lockup that ends in September.
- The company began dual trading on March 27 after merging with a listed acquisition vehicle and promotes a room‑temperature photonic approach, recent DARPA progress, its Aurora system, and new access to U.S. and Canadian funding, in a sector still years from full‑scale use.