Core Insights - Google has made a significant breakthrough in quantum computing with its Willow chip, demonstrating an algorithm that outperforms traditional supercomputers [1][2] - This advancement paves the way for practical applications of quantum technology within the next five years [2] - The algorithm, named "Quantum Echoes," is verifiable and can be run on another quantum computer, achieving speeds 13,000 times faster than the world's strongest supercomputer [2][4] Group 1: Breakthrough Details - The Willow chip solved a problem in five minutes that would take a supercomputer 10 septillion years to complete [5] - Quantum computers utilize extremely small circuits for calculations, allowing for parallel processing rather than sequential execution, significantly enhancing speed [5] - The ability to verify results on another quantum computer addresses a major challenge in the field, as noted by computer scientist Scott Aaronson [5][4] Group 2: Future Applications - The results indicate broad potential uses for quantum computing in fields such as medicine and materials science [3] - One application of the algorithm involves studying molecular structures by calculating distances between atoms, which could benefit drug development and battery design [7][8] - However, achieving these applications will require quantum computers to be scaled up by a factor of 10,000 compared to current machines [8] Group 3: Industry Context - Google is not alone in this race; Microsoft, IBM, and various startups are also actively pursuing advancements in quantum computing [4] - The research team includes notable figures such as Michel H. Devoret, a potential Nobel Prize winner in Physics for 2025, indicating the high caliber of expertise involved [8]

Core Insights - The research published in the journal "Nature" discusses a method called "time reversal" to probe quantum dynamics, potentially enhancing the performance of quantum computers [1][4]. Group 1: Research Overview - The study is conducted by Google's Quantum AI team and collaborators, focusing on measuring out-of-time-order correlators (OTOC) in superconducting quantum processors [1][4]. - The long-term goal of quantum computing is to create machines that can outperform classical computers in specific practical tasks, which requires overcoming challenges such as noise reduction and defect management [4]. Group 2: Methodology and Findings - The research proposes using time reversal to track the quantum dynamics of numerous components in a system, which is crucial for distinguishing genuine quantum effects from classical noise [4]. - The team successfully measured high-order OTOC using a time-reversal scheme, finding that the observable quantities remain sensitive to true quantum effects over sufficiently long time scales [5]. Group 3: Implications and Future Applications - Measuring OTOC can reveal microscopic properties of quantum systems that classical computation cannot access, increasing the potential for robust demonstrations of quantum advantage in future applications [5]. - The circuits used in the study are simplified models, but the approach is applicable to real physical systems, indicating broader implications for quantum computing research [5].

Core Viewpoint - Google's new Quantum Echoes algorithm demonstrates a significant advancement in quantum computing, achieving a speed 13,000 times faster than traditional supercomputers for solving atomic interaction problems, completing calculations in hours that would take the Frontier supercomputer approximately 3.2 years [1][2][5]. Group 1: Algorithm and Technology - The Quantum Echoes algorithm measures a quantum observable known as OTOC (out-of-time-order correlator), which describes how quantum dynamics become chaotic [4]. - This breakthrough is based on decades of technological accumulation and key advancements over the past six years, including the introduction of the Willow quantum chip [5][6]. - The algorithm's results are verifiable, meaning they can be repeated on other quantum computers, confirming the accuracy of the outcomes [14][15]. Group 2: Practical Applications - The new algorithm can utilize nuclear magnetic resonance to explain atomic interactions in molecules, paving the way for future applications in drug development and materials science [6][25]. - The research involved collaboration with institutions like UC Berkeley and Dartmouth College, highlighting the interdisciplinary nature of the work [5][6]. - The algorithm's ability to simulate quantum mechanical phenomena is crucial for understanding molecular structures, which is foundational in chemistry, biology, and materials science [25][26]. Group 3: Experimental Validation - In a verification experiment, Google ran the Quantum Echoes algorithm on the Willow chip to study two molecules, one with 15 atoms and another with 28 atoms, confirming that the quantum results aligned with traditional NMR results while providing additional insights [26]. - This experiment represents a significant step towards a new quantum scope, enabling the measurement of previously unobservable natural phenomena [26].

Core Insights - The favorable antitrust ruling for Alphabet's Google has allowed the company to maintain its core search business, positively impacting its stock performance and contributing 3.1% to the fund this quarter [3] - UnitedHealth's stock rebounded after a significant decline earlier in the year, adding 0.9% to the fund, driven by optimistic comments from the new CEO and investment interest from Berkshire Hathaway [4] - Progressive was the largest detractor in the quarter, reducing performance by 0.5% due to concerns over lower interest rates affecting investment income [5] Performance Summary - The Bretton Fund achieved a return of 8.21% for the third quarter, outperforming the S&P 500 Index, which returned 8.12% [7] - Over the past year, the fund's return was 8.92%, while the S&P 500 Index returned 17.60% [7] - The fund's inception date was September 30, 2010, and it has delivered a 12.89% return since inception [7] Portfolio Composition - As of September 30, 2025, Alphabet Inc. constituted 11.51% of the fund's net assets, making it the largest holding [11] - Other significant holdings included AutoZone Inc. at 7.11% and The Progressive Corporation at 6.84% [11] - The fund also held positions in major companies like American Express, JPMorgan Chase, and UnitedHealth, each contributing to the overall portfolio diversity [11] Investment Actions - The fund sold its position in Union Pacific Corp after nearly 15 years, achieving a 13% annualized internal rate of return [14] - The decision to sell was influenced by concerns over a pending acquisition that could dilute shareholder value and distract management from core operations [15]

2025.10. 23 图片来源：谷歌博客 量子计算自上世纪80年代被提出以来，一直是科技圈关注的焦点，过去几年来，包括谷歌、微软， IBM等大厂都在研发量子计算机。早在2019年，谷歌曾在《Nature》发布了一项量子计算突破，在世 界第一超级计算机Summit需要计算1万年的实验中，谷歌研究的量子计算机只用了短短3分20秒。当 时，谷歌CEO桑达尔·皮查伊（Sundar Pichai）将此次突破比作"莱特兄弟的首飞"。 本文字数：1633，阅读时长大约3分钟 作者 | 第一财经 刘佳 谷歌当地时间周三在《自然》杂志披露与Willow芯片相关的量子计算突破性研究成果。该公司称这是 历史上首次证明量子计算机可在硬件上成功运行一项可验证算法，其性能甚至超越了最快的经典超级计 算机（速度快 13000 倍）。 Willow是谷歌于去年12月宣布推出的量子芯片。当时，Willow量子芯片在5分钟内完成了一项传统超级 计算机需要"10的25次方"年的时间才能完成的标准基准计算任务。而此次谷歌披露量子可验证性意味 着，该结果可在谷歌的量子计算机（或其他同等水平的量子计算机）上重复得出，从而确认结果的准确 性。这种可重复 ...

Group 1: Microsoft CEO Compensation - Microsoft CEO Satya Nadella's compensation for fiscal year 2025 has reached $96.5 million, marking the highest salary since he took the position over a decade ago [1][4] - The board attributed this increase to the company's significant advancements in the AI sector, describing the progress as "extraordinary" [2][3] - Nadella's salary includes a base salary of $2.5 million, with 90% of the compensation paid in Microsoft stock [5] Group 2: Tesla Q3 Financial Results - Tesla reported a record total revenue of $28.095 billion for Q3 2025, a 12% increase from $25.182 billion in the same period last year [7] - The net profit attributable to Tesla's common shareholders was $1.373 billion, a 37% decrease from $2.173 billion year-over-year [7] - Despite exceeding revenue expectations, the adjusted earnings per share fell short, leading to a more than 1% decline in Tesla's stock price in after-hours trading [8] Group 3: Google Quantum Computing Breakthrough - Google announced a significant breakthrough in quantum computing with its new algorithm "Quantum Echo," which completed tasks that traditional computers cannot, achieving speeds approximately 13,000 times faster than supercomputers [13][14] - This achievement marks the first time a quantum computer has successfully run a verifiable algorithm, paving the way for practical applications in fields like medicine and materials science [13][14] Group 4: Tencent's Mixed Reality Model - Tencent officially released and open-sourced version 1.1 of its Mixed Reality Model (WorldMirror), which now supports multi-view and video input, allowing for the creation of 3D worlds in seconds [14][15] - The new version addresses limitations of the previous version by enabling multi-modal prior injection and unified output for 3D reconstruction [15] Group 5: Netflix's AI Integration - Netflix has adopted a proactive approach to integrating AI, viewing it as a tool to enhance creator efficiency rather than replacing creativity [16][17] - The company has already utilized generative AI in various productions, including visual effects and pre-production design [17] Group 6: Google Cloud and Anthropic Negotiations - Google Cloud is reportedly in discussions with AI startup Anthropic for a potential multi-billion dollar deal to provide cloud services [19][20] - The negotiations are ongoing, and no agreements have been finalized yet [21] Group 7: Baidu's Autonomous Driving Service in Switzerland - Baidu's autonomous driving service "AmiGo" is set to launch in Switzerland in collaboration with PostBus, with initial fleet testing planned for December [22] - The service will allow passengers to book rides via a mobile app, accommodating up to four passengers [22] Group 8: Huawei HarmonyOS 6 Release - Huawei officially launched HarmonyOS 6, featuring enhanced connectivity and perception capabilities, with a 15% improvement in smoothness from the previous version [26][27] - The new OS includes over 80 smart application agents and upgraded privacy and security features [27] Group 9: Launch of Affordable Humanoid Robot - Songyan Power introduced the world's first high-performance humanoid robot priced under 10,000 yuan, named Bumi, which can walk, run, and dance [28][29] - The robot supports graphical programming and voice interaction, aimed at engaging children [29]

从"看见沉船"到"看清铭牌"：谷歌量子计算实现"历史首次"精度飞跃。 谷歌当地时间周三在《自然》杂志披露与Willow芯片相关的量子计算突破性研究成果。该公司称这是历 史上首次证明量子计算机可在硬件上成功运行一项可验证算法，其性能甚至超越了最快的经典超级计算 机（速度快 13000 倍）。 Willow是谷歌于去年12月宣布推出的量子芯片。当时，Willow量子芯片在5分钟内完成了一项传统超级 计算机需要"10的25次方"年的时间才能完成的标准基准计算任务。而此次谷歌披露量子可验证性意味 着，该结果可在谷歌的量子计算机（或其他同等水平的量子计算机）上重复得出，从而确认结果的准确 性。这种可重复、超越经典计算的能力，是可扩展验证的基础。 谷歌称该算法的突破是量子计算迈向实际应用的重要一步，能够让人类离能推动医学、材料科学等领域 重大发现的量子计算机更近一步。 量子计算自上世纪80年代被提出以来，一直是科技圈关注的焦点，过去几年来，包括谷歌、微软，IBM 等大厂都在研发量子计算机。早在2019年，谷歌曾在《Nature》发布了一项量子计算突破，在世界第一 超级计算机Summit需要计算1万年的实验中，谷歌研究的量 ...

Core Insights - Google has achieved a historic milestone by successfully running a verifiable quantum algorithm that surpasses the capabilities of the fastest classical supercomputers, demonstrating a speed increase of 13,000 times [2][5] - The breakthrough is based on the Willow quantum chip, which significantly reduces error rates and enhances computational speed, paving the way for practical applications in fields like medicine and materials science [6][11] Quantum Echoes Algorithm - The Quantum Echoes algorithm represents the first verifiable quantum advantage, meaning results can be replicated on Google's quantum computer or any equivalent quantum system, confirming the outcomes [5][6] - This algorithm simulates physical experiments and tests both complexity and accuracy, making it a significant step towards practical quantum computing applications [6] Willow Quantum Chip - The Willow chip has achieved two major advancements: it reduces errors exponentially with an increase in qubit numbers and completes a standard benchmark calculation in five minutes, a task that would take the fastest classical supercomputer approximately 10^25 years [11][15] - The chip features 105 qubits and has shown impressive performance in quantum error correction and random circuit sampling benchmarks, indicating its potential for scalable quantum computing [18][19] Applications in Science - Quantum computing is expected to play a crucial role in modeling quantum mechanical phenomena, such as atomic interactions and molecular structures, which are foundational in chemistry, biology, and materials science [8][9] - Experiments conducted in collaboration with UC Berkeley using the Quantum Echoes algorithm on the Willow chip have validated the method against traditional nuclear magnetic resonance (NMR) results, revealing new insights [8] Future Prospects - Google aims to demonstrate practical, super-classical computations that are relevant to real-world applications, bridging the gap between quantum computing capabilities and commercial viability [19] - The advancements in quantum error correction and the performance of the Willow chip suggest that practical large-scale quantum computers are becoming increasingly feasible [13][17]

2025 11 市场回顾 日韩股市10月23日开盘双双下跌 现货黄金与现货白银跌至两周低位 美三大股指10月22日全线收跌 国际宏观 美国国债规模首次达到38万亿美元 新 五 社 主管主办 上海增添家 HUBUS AN 【市场回顾】 北京时间10月23日，日韩股市开盘双双下跌。其中，日经225指数开盘跌0.99%，报48820.95点；韩国综合指数跌1.41%，报3828.97点。 当地时间10月22日，在贸易不确定性加剧与企业财报不及预期的双重施压下，美三大股指全线收跌。截至当日收盘，道指跌0.71%，标普500指数跌 0.53%，纳指跌0.93%。科技股普跌，奈飞跌超10%，创2020年4月以来最大单日跌幅。 欧洲三大股指多数收跌。英国富时100指数涨0.93%报收于9515点；法国CAC40指数跌0.63%报收于8206.87点；德国DAX指数跌0.74%报收于24151.13点。 国际贵金属市场方面，现货黄金与现货白银双双跌至两周低位。截至10月23日8时，现货黄金（伦敦金现）交投于4080美元/盎司附近，较20日的4381.484 美元/盎司历史最高点回落约300美元；现货白银（伦敦银现）则交投于4 ...

兜兜转转四年后，谷歌为了淘汰第三方Cookie推出的隐私沙盒计划，终究还是"创业未半而中道崩殂"。 日前谷歌高管安东尼·查韦斯宣布，"在评估了行业对其预期价值的反馈，并考虑到其采用率较低后，我 们决定停用Topics等隐私沙盒技术。" 美国百货公司之父约翰·沃纳梅克有一句名言，"我知道我的广告费有一半浪费了，问题是我不知道哪一 半被浪费了"。这句在营销领域影响深远的论述，其实就反映了广告商的最大痛点，它们既无法识别消 费者是在哪个瞬间被打动，也很难追踪到是什么让大家屡次看到、但始终无感。 使用第三方Cookie持续追踪用户上网冲浪的行为，广告商也就收获了对应用户的精致画像，进而可以因 地制宜地投放广告。显而易见，大家肯定不希望自己上网冲浪时被时刻"监视"，所以用隐私沙盒淘汰第 三方Cookie，谷歌此举属于是顺应民意。 然而当时谷歌刚刚宣布了自己的决定后，业界很快便怨声四起。无论微软、Opera、Firefox等浏览器赛 道的友商，还是GitHub、电子前线基金会（EFF）等互联网社区，均不约而同地站在了他们的对立面。 那么问题就来了，为什么一个为用户隐私安全着想的方案，会受到整个业界的反对呢？ 事实上，海外 ...