Luminar has reached a deal to sell its LiDAR business to Quantum Computing Inc. for $22 million, pending better offers by Monday. Luminar founder Austin Russell may bid for assets. Quantum is the “stalking horse bidder.” Luminar’s peak market cap in 2021 was $11 billion, but deals with automakers fell through.

Quantum Computing Inc., a company founded in 2001, bought Luminar’s semiconductor subsidiary for $110 million. It raised over $700 million by selling shares in 2025. Revenue for the first nine months of last year was just $384,000. The company pivoted to making optic technology for quantum computing after restructuring.

Read more at Yahoo Finance: Luminar lines up $22 million bidder for its lidar business