中金研究 量子及光子计算相较传统计算有着强大的计算能力，在AI带来的计算推理需求指数级增长的时代，我们认为其未来具备较大发展潜力。随着Google、 IBM等全球领先企业不断投入研发，国内本源悟空、九章三号、祖冲之三号等量子计算机陆续问世，我们认为其商业化有望加速落地，本文对以量子 及光子计算为首的下一代计算范式展开深度讨论。 点击小程序查看报告原文 英伟达首次在GTC大会中推出"量子日"活动，探讨其技术发展进展： 北美时间3月20日，GTC大会首次推出"量子日"活动，英伟达创始人兼CEO黄仁勋邀 请了12家量子计算相关公司CEO及创始人举办了圆桌会议活动，此次会议针对量子优越性的争议、近期各种技术路径的研究成果、量子赋能AI的方式等 问题进行了探讨。此外，英伟达于3月18日宣布将在美国波士顿建立量子计算研究实验室，并与哈佛大学、麻省理工学院等顶尖学府展开合作，并命名 为"英伟达加速量子研究中心"（NVAQC）。[1] 量子计算及光子计算具备更强大的计算能力： 量子计算以量子比特（qubit）为基本单元，利用干涉、叠加、纠缠等量子特性， 与经典计算机不同，量子 计算机利用量子并行性和量子态演化， 在特定问题（ ...

Core Insights - IonQ experienced a significant decline of over 9% in stock price due to competitive news from Nvidia, contrasting with the S&P 500's minor 0.2% drop [1] - Nvidia announced plans to establish a quantum computing research laboratory in Boston, indicating a serious commitment to the quantum space [2][3] - Nvidia's CEO, Jensen Huang, previously estimated that practical quantum computers were 20 years away but has since revised this stance, acknowledging the potential for advancements in the field [4] Competitive Landscape - Nvidia's new lab is expected to enhance its capabilities in quantum computing, potentially leading to the development of its own quantum products, thereby strengthening its position in the hardware market [5] - IonQ, while more advanced in quantum computing development, faces significant competition from Nvidia, which could negatively impact its business prospects [6]

IonQ, Nu, and PDD are all growing at breakneck rates.It might seem risky to chase the hottest hypergrowth stocks as the Trump administration's unpredictable tariffs, elevated interest rates, and geopolitical tensions rattle the markets and drive many investors toward more conservative investments.But if you can look beyond those daunting near-term challenges, it might still be a good time to buy a few of those volatile growth stocks as long-term investments.Here are three hypergrowth plays that have enough ...

Core Insights - The article discusses the rapid advancements in quantum computing, particularly the unveiling of Aurora, a room-temperature quantum computer, which represents a significant step towards scalable quantum computing [1] - It highlights the urgent need for financial institutions and policymakers to transition to quantum-safe cryptography due to the potential vulnerabilities posed by quantum computing [1] - The economic impact of quantum technology is projected to reach up to $2 trillion by 2035, emphasizing the growing importance of this sector [2] Company Developments - Scope Technologies Corp. has signed a strategic partnership with COGITO to enhance the adoption of its quantum security solutions in the Chinese market [3][5] - COGITO has a vast network, collaborating with over 2,000 resellers and serving more than 40,000 users across various sectors, which positions it well to promote Scope's offerings [4] - Scope Technologies has integrated its Quantum Preparedness Assessment (QPA) tool with a widely used risk management system, facilitating businesses in evaluating and protecting against quantum-related cyber threats [6][10] Market Trends - The article notes the increasing demand for quantum-resistant data security solutions, driven by the looming threats from quantum computing [6] - The "Harvest Now, Decrypt Later" strategy poses a significant risk, where cybercriminals may steal encrypted data today, anticipating that future quantum computers will be able to decrypt it [8] - Scope's QPA tool provides actionable insights for businesses to protect their sensitive data without requiring substantial investments [9] Financial Highlights - Scope Technologies secured $2.8 million in new funding, which includes a $1.8 million private placement and a $1 million debt financing deal with its first enterprise-level client, First Majestic Silver [11]

Shares of quantum computing company IonQ (IONQ 15.29%) were rising this morning after Japanese online brokerage firm Rakuten Securities disclosed in an SEC filing that it recently purchased 90,000 shares of IonQ's stock. IonQ's share price is likely also getting a bump after it announced yesterday that its quantum networking patent portfolio has reached nearly 400 granted or pending patents following a recent acquisition. Both bits of news sent IonQ's shares up by 12.4% as of 11:57 a.m. ET.Rising investment ...

Core Viewpoint - Defiance ETFs has launched IONX, a 2X leveraged single-stock ETF aimed at providing amplified exposure to IonQ, Inc., a leader in quantum computing, allowing traders to seek enhanced returns without needing a margin account [1][2][3] Company Overview - IonQ, Inc. is recognized as a leader in the quantum computing sector, known for its cutting-edge innovations and strategic partnerships that advance the industry [2][3] - Defiance ETFs, founded in 2018, specializes in thematic, income, and leveraged ETFs, positioning itself at the forefront of ETF innovation [6] Product Details - IONX aims to achieve daily investment results that correspond to twice (200%) the daily percentage change of IonQ's stock [2] - The ETF is designed for knowledgeable investors who actively monitor their portfolios, as it carries higher risks due to its leveraged nature [4][14] Market Context - The introduction of IONX reflects a growing interest in quantum computing and the potential for significant returns in this emerging sector [3] - The ETF allows investors to take amplified positions in high-growth companies without the complexities of margin accounts [6]

The long-term potential is enticing, but there are some concerns investors should know.Move over, artificial intelligence (AI) -- quantum computing could be this year's hottest investment topic.It's easy to understand why. Quantum computing utilizes quantum mechanics to unlock a level of computing technology beyond the scope of what's possible today. For example, Alphabet recently announced a quantum computing chip capable of performing a benchmarking task in under five minutes, which today's leading superc ...

Group 1 - IonQ is identified as a potential investment opportunity in the quantum computing sector, emphasizing the importance of early trend recognition in investing [1] - The investment strategy is focused on a 3-5 year time horizon, with insights gathered from various sources including investor calls and financial presentations [1] - The founder of MMMT Wealth, Oliver, has a background in financial services, particularly in private equity, hedge funds, and asset management, and has been active in investment writing since 2023 [1] Group 2 - The article highlights the significance of thorough research in identifying high-potential businesses, suggesting that even a few successful investments can be life-changing [1] - Oliver's experience includes 5 years in investing and 4 years as a CPA, which contributes to his analytical approach [1]

Company Overview - IonQ is a quantum computing company that has seen its stock price increase over 120% in the past year, despite a recent drop of about 40% in 2025 [1] - The company specializes in quantum computing and networking hardware, offering solutions through platforms like AWS, Microsoft Azure, and Google Cloud [6] Recent Financial Performance - In Q4, IonQ's revenue nearly doubled to $11.7 million from $6.1 million a year ago, surpassing its previous forecast of $7.1 million to $11.1 million [7] - The company recorded $22.7 million in new bookings for Q4 and $95.6 million for the year, indicating potential future revenue growth [7] - IonQ reported a loss of $202 million in Q4, or $0.93 per share, compared to a loss of $41.9 million, or $0.20 per share, a year ago [9] - Adjusted EBITDA loss was $32.8 million, compared to a loss of $20 million a year ago [10] - The company ended the year with $363.8 million in cash and investments and no debt, while also entering an ATM program to raise up to $500 million in new stock [10] Future Outlook - IonQ forecasts 2025 revenue to range between $75 million and $95 million, with an adjusted EBITDA loss of $120 million, compared to revenue of $43.1 million and an adjusted EBITDA loss of $107.2 million in 2024 [11] - The company expects Q1 revenue to be between $7 million and $8 million, slightly down from $7.6 million a year ago [11] - IonQ has recently acquired Qubitekk and announced plans to acquire a controlling stake in ID Quantique to enhance its network offerings [11] Industry Context - Quantum computing is an emerging technology that leverages quantum mechanics to solve problems faster than traditional computers, using quantum bits (qubits) that can exist in multiple states simultaneously [3][4] - Despite recent advancements, such as Alphabet's breakthrough with its quantum chip, practical applications for quantum computing are not expected for at least a decade [5]

Financial Data and Key Metrics Changes - IonQ achieved full-year revenue of $43.1 million, a 95% increase year-over-year, and fourth-quarter revenue of $11.7 million, both exceeding guidance [9][28] - Full-year bookings reached $95.6 million, up 47% year-over-year, with fourth-quarter bookings of $22.9 million [8][28] - Total operating costs for Q4 were $89.2 million, a 47% increase from the prior year, and for the full year, costs were $275.5 million, up 53% [28][29] - The net loss for Q4 was $202 million, compared to $41.9 million in the prior year, and for the full year, the net loss was $331.6 million, up from $157.8 million [31][32] Business Line Data and Key Metrics Changes - Research and development costs for Q4 were $40.1 million, up 27% year-over-year, and for the full year, they were $136.8 million, up 48% [29] - Sales and marketing costs in Q4 were $8.9 million, a 28% increase, and for the full year, they were $28.4 million, up 55% [30] - General and administrative costs for Q4 were $29.7 million, a 94% increase, and for the full year, they were $71.1 million, up 40% [31] Market Data and Key Metrics Changes - IonQ is expanding its presence in quantum networking through acquisitions, including Qubitekk and a controlling stake in ID Quantique, which will enhance its patent portfolio and market reach [10][12][95] - The company aims to build a suite of products for secure quantum communication across various sectors, including telecommunications and defense [13][16] Company Strategy and Development Direction - IonQ's strategy includes significant investments in R&D and expanding its product lines to meet customer demand, particularly in quantum networking and applications [29][30] - The company is transitioning to a new leadership structure with Niccolo de Masi as CEO, focusing on scaling operations and enhancing strategic customer relationships [19][25] - IonQ plans to launch a $500 million at-the-market facility to support growth in quantum networking and applications [33][130] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving AQ 64 by the end of the year, indicating progress in technical performance [17] - The company anticipates revenue growth in 2025, projecting between $75 million to $95 million for the full year, with a focus on expanding its customer base and product offerings [35][98] - Management highlighted the importance of upcoming events, such as DARPA's quantum benchmarking initiatives, which could significantly impact the market [37][128] Other Important Information - IonQ is consolidating its patent portfolio, now controlling nearly 900 patents across various quantum technologies, enhancing its competitive position [12][95] - The company is focusing on developing new benchmarks for measuring technical progress in quantum computing, moving away from traditional metrics [18] Q&A Session Summary Question: Are there any strategic changes anticipated with the new CEO? - Management clarified that there are no changes in strategic direction, as the new CEO has been involved in setting the strategy for the past five years [42][47] Question: How should the market view the recent acquisitions? - The acquisitions are expected to create synergies and expand market presence, particularly in quantum networking [51][95] Question: What is the expected impact of the networking market on top-line growth? - Management indicated that the impact of acquisitions would be seen in the future, with a focus on expanding into new markets [60][62] Question: Can you provide insights on energy consumption reductions with new technology? - The company highlighted advancements in energy efficiency with new systems, which are expected to lower operational costs significantly [78][81] Question: How does the acquisition of ID Quantique fit into the overall strategy? - The acquisition is seen as complementary to Qubitekk, enhancing capabilities in quantum networking and expanding the patent portfolio [86][90]