Quantinuum, a subsidiary of Honeywell (HON.US), is planning to establish a research center, which has led to a surge in quantum computing stocks in the US market.

Honeywell's (HON.US) quantum software unit Quantinuum announced plans to build a new research and development center in New Mexico, sending quantum computing stocks in the US soaring.

Quantinuum said the proposed center would focus on photonic technologies, which would help advance trapped ion quantum computing.

Rajeeb Hazra, president and CEO of Quantinuum, said: "As a leader in the quantum computing space, Quantinuum has found the ideal partner in New Mexico. The state's vibrant technology ecosystem and skilled workforce align perfectly with our strategic objectives."

Earlier reports said Quantinuum would receive an $800 million investment, including $210 million from the state government, $220 million from the federal government, and $350 million from quantum companies investing in the state.

After the announcement, Honeywell's stock rose 1.1%, while other quantum computing stocks soared, with Arqit Quantum (ARQQ.US) up 9%, IonQ Inc (IONQ.US), Quantum Computing (QUBT.US) up nearly 17%, D-Wave Quantum (QBTS.US) up over 19%, and Rigetti Computing (RGTI.US) surging 42%.