Novo Nordisk Invests in Quantum Computing Initiative with €80 Million Deal, Analysts Predict 28.42% Upside.

Novo Nordisk and the Danish government are investing €80 million in the QuNorth quantum computing project, aiming to drive technological advancement in the Nordic region. Analysts forecast an average price target of $86.09 for Novo Nordisk, indicating a 28.42% potential upside from its current price. The GF Value projection suggests a significant upside of 147.4% over the next year.

The Danish government and Novo Nordisk Foundation are investing €80 million in the QuNorth quantum computing project, aiming to drive technological advancement in the Nordic region. This initiative is a significant step forward for the region, which has historically been strong in quantum research but has been lagging in accessing next-generation quantum systems.

The investment will establish QuNorth, a new Nordic quantum initiative, which will acquire and operate the world’s most powerful commercial quantum computer, named Magne. Magne is set to become the world’s most powerful commercially available quantum computer, characterized by performing calculations using logical qubits. The computer is expected to be delivered by a partnership between Microsoft and Atom Computing, both world-leading companies in the field of quantum technology.

The commercial and geopolitical stakes in quantum technology are immense. The investment in QuNorth and Magne aims to provide a strong platform that prioritizes access for Nordic users, helping to attract talent and new quantum investments to the region. The project is expected to contribute to a global leadership position for the Nordic region.

Morten Bødskov, Danish Minister of Industry, Business and Financial Affairs, commented on the significance of the investment: "The world has changed, and the competition for critical technologies is fierce. China and the USA are investing massively while Europe is falling behind. Quantum technology comes with enormous potential, and Denmark and the EU must seize this opportunity. With the investment in the world’s strongest quantum computer, we are making a solid shift in the global quantum race. This will benefit all of Europe. We need to harness the untapped possibilities of quantum technology for Danish and European businesses, society, and security. Denmark and the EU must lead the race in developing new technologies."

Both EIFO and the Novo Nordisk Foundation have intensified their focus on quantum technology over the past year. The investment in QuNorth and Magne is part of their strategy to strengthen both the Danish and Nordic quantum ecosystems.

The construction of Magne is set to begin in autumn 2025, and the computer is expected to be ready for its first tasks by the new year 2026/27. The selection of Microsoft and Atom Computing is the result of a thorough evaluation of various quantum platform’s current technological strengths and benefits.

Analysts forecast an average price target of $86.09 for Novo Nordisk, indicating a 28.42% potential upside from its current price. The GF Value projection suggests a significant upside of 147.4% over the next year.

References:
[1] https://novonordiskfonden.dk/en/news/eifo-and-the-novo-nordisk-foundation-acquire-the-worlds-most-powerful-quantum-computer/