Nvidia's venture capital arm is investing in Honeywell's quantum computing company, Quantinuum, at a valuation of $10 billion, Bloomberg News reported Thursday, citing people familiar with the matter.

The deal will see Nvidia investing in Quantinuum through a $600 million funding round, which could be announced as early as Thursday, the report said.

Nvidia, its venture capital arm and Honeywell did not immediately respond to Reuters' requests for comment.