JPMorgan Chase ( NYSE:JPM ) CEO Jamie Dimon ignited fresh momentum in quantum computing with the launch on Monday of the bank's Security & Resiliency Initiative. ...

Core Viewpoint - MicroCloud Hologram Inc. has proposed a quantum secure tripartite computing protocol based on Blind Quantum Computing (BQC), addressing data privacy concerns in multi-client collaborative computing [1][2][4]. Group 1: Quantum Secure Tripartite Computing Protocol - The proposed protocol involves two quantum-limited clients and a remote quantum server, ensuring that the server cannot access the specific content of the clients' data during computation [1][2]. - This approach allows mutually distrusting clients to engage in collaborative computing without the risk of data privacy leakage [2][3]. Group 2: Extension to Multi-Party Computing - HOLO has expanded the tripartite protocol into a quantum secure multi-party computing protocol, which supports more than two clients while maintaining independent privacy protection for each client's data [3][4]. - The protocol systematically adjusts data transmission paths and server processing workflows to ensure security and efficiency in multi-client scenarios [3][4]. Group 3: Future Implications and Investments - The multi-party computing protocol lays the groundwork for broader applications of quantum computing, with potential for further optimization as quantum technology advances [4]. - MicroCloud plans to invest over $400 million in various cutting-edge technology sectors, including quantum computing and blockchain development [5].

Group 1: Industry Overview - The quantum computing industry is gaining significant attention from investors, with a notable growth potential despite being in its early stages [1][3] - McKinsey estimates that quantum computing revenue could increase from $4 billion in 2024 to as high as $72 billion by 2035, indicating substantial market growth [4] Group 2: Company Performance - IonQ has reported $52 million in revenue over the trailing 12 months, outperforming its three main competitors combined [4] - The company is currently the most successful pure-play quantum computing firm by revenue and market cap, with expectations to reach profitability and approach $1 billion in sales by 2030 [5] Group 3: Investment Considerations - IonQ's share price has increased by 50% over the last month, raising questions about the timing of potential investments [1][8] - Despite the recent price surge, there are analysts who have identified other stocks as better investment opportunities than IonQ [6][8]

Core Points - IonQ will release its financial results for Q3 2025 on November 5, 2025, after market close [1] - A conference call to discuss the results and business outlook will be held on the same day at 4:30 PM Eastern time [2] - The company aims to deliver quantum computers with 2 million qubits by 2030 to enhance innovation across various sectors [5] Company Overview - IonQ is a leading quantum company providing solutions for complex problems, with notable clients including Amazon Web Services, AstraZeneca, and NVIDIA [4] - The company has been recognized in several prestigious lists, including Fortune Future 50 and Forbes' 2025 Most Successful Mid-Cap Companies [6] - IonQ's technology is accessible through major cloud providers, making quantum computing more impactful [6]

Core Viewpoint - ASP Isotopes Inc. has announced a public offering of 17,167,380 shares of its common stock, aiming to raise approximately $210.3 million before expenses, with the offering expected to close on October 16, 2025 [1][4]. Group 1: Offering Details - The company has granted underwriters a 30-day option to purchase approximately $31.5 million of additional shares at the offering price [2]. - The last sale price of the shares on October 14, 2025, was reported at $14.05 per share [3]. - The offering is made under a shelf registration statement filed with the SEC on October 14, 2025, which became effective upon filing [5]. Group 2: Use of Proceeds - The net proceeds from the offering will be used for general corporate purposes, including working capital, operating expenses, and capital expenditures [4]. Group 3: Company Overview - ASP Isotopes Inc. is focused on developing technology and processes for isotope production, particularly for healthcare and technology industries, utilizing proprietary Aerodynamic Separation Process technology [7]. - The company plans to enrich isotopes for the nuclear energy sector using Quantum Enrichment technology [7]. - There is a growing demand for various isotopes, including Silicon-28 for quantum computing and Molybdenum isotopes for healthcare applications, indicating a robust market potential for the company's offerings [8].

Group 1 - Quantum computing presents a variety of investment opportunities, including pure plays and cloud computing companies that will benefit from increased workloads due to access to quantum computers [1][2] - Companies providing components necessary for quantum computing are also involved in the AI sector, representing intriguing investment options [2] - Nvidia is a key player in both AI and quantum computing, with its GPUs powering much of the current AI computing landscape and its CUDA-Q software facilitating the integration of quantum and traditional computing [4][5][6] Group 2 - Nvidia's CUDA-Q software is essential for bridging the gap between quantum and traditional computing, positioning Nvidia as a benefactor in the quantum computing race [6][9] - Taiwan Semiconductor Manufacturing (TSMC) is highlighted as a leading chip foundry, crucial for both quantum computing and AI due to its advanced technology and high yields [10]

Core Viewpoint - Churchill Capital Corp X (NASDAQ: CCCX) is merging with Infleqtion, a quantum company that specializes in quantum computing and is already selling quantum sensing products, indicating a strategic move into the quantum technology sector [1] Company Summary - Churchill Capital Corp X is pursuing a merger with Infleqtion, which focuses on both quantum computing and quantum sensing, suggesting a diversification of its portfolio into advanced technology [1] Industry Summary - The merger highlights the growing importance of quantum technology in various sectors, as companies seek to leverage advancements in quantum computing and sensing for competitive advantage [1]

Core Insights - The article discusses the significant risks facing Wall Street's leading quantum computing stocks, which have experienced a parabolic rally, highlighting the potential for a bubble and the challenges these companies may face in sustaining growth and profitability [1][4]. Industry Overview - Quantum computing is positioned as a transformative technology that leverages quantum mechanics to solve complex problems beyond the capabilities of traditional computers, with applications in drug discovery, AI enhancement, and cybersecurity [3]. - The economic potential of quantum computing is estimated to reach or approach $1 trillion in global economic value by 2035 to 2040, suggesting a substantial market opportunity for multiple companies [4]. Company Performance - The leading quantum computing companies, including IonQ, Rigetti Computing, D-Wave Quantum, and Quantum Computing, Inc., have seen significant stock price increases over the past year, with gains ranging from 620% to 5,710% [9]. - Despite the impressive stock performance, these companies are currently facing substantial operational losses, indicating a need for capital-raising efforts that may dilute existing shareholders [8][10]. Valuation Concerns - The current price-to-sales (P/S) ratios for these quantum computing stocks are historically high, with estimates suggesting P/S ratios between 30 and 90 for 2029, which are not sustainable based on historical trends [12]. - The article draws parallels to past technology bubbles, suggesting that the current hype surrounding quantum computing may lead to similar outcomes as seen with previous innovations [6][7]. Competitive Landscape - The "Magnificent Seven" companies, which dominate the AI and cloud computing sectors, pose a significant threat to the pure-play quantum computing stocks due to their substantial financial resources and operational cash flow [14][16]. - Companies like Amazon are already integrating quantum computing services, which may limit the market opportunities for smaller quantum computing firms that lack the same level of capital and infrastructure [15].

Core Viewpoint - The quantum technology sector experienced a significant surge on October 15, with multiple companies seeing substantial stock price increases, indicating a growing interest and investment in this field [1][2]. Company Summaries - **Geer Software (603232.SS)**: Stock price reached 16.39, up by 10.00%. The company is involved in quantum cryptography technology research and application in various sectors, including government and finance [2]. - **Hexin Instruments (688622.SS)**: Stock price reached 134.90, up by 12.34%. The company plans to acquire control of a firm specializing in ultra-low temperature signal measurement, with applications in superconducting quantum computing [2]. - **GuoDun Quantum (688027.SS)**: Stock price reached 422.37, up by 6.39%. The company holds a leading position in quantum computing technologies and has a robust capability for rapid transformation of research into engineering applications [2]. - **Jida Zhengyuan (003029.SZ)**: Stock price reached 25.71, up by 5.80%. The company has made progress in quantum-resistant algorithms, particularly in quantum signature algorithms [2]. - **Keda Guochuang (300520.SZ)**: Stock price reached 27.39, up by 3.48%. The company is actively promoting the development and application of quantum computing technologies through investments and R&D [2]. Industry Developments - On October 13, JPMorgan announced plans to invest up to $10 billion in quantum computing and 26 other strategic technology sectors, leading to a rise in U.S. quantum computing stocks [3]. - On October 12, China Mobile showcased its advancements in quantum communication at a technology innovation forum, highlighting ongoing research and development in the field [3]. - The Nobel Prize in Physics was awarded on October 7 to three physicists for their contributions to quantum mechanics, further emphasizing the importance of this field [3]. - The Chinese Ministry of Industry and Information Technology emphasized the importance of emerging industries, including quantum information, during a speech at the China International Industry Fair on September 23 [3]. - A technology prosperity agreement was signed between the U.S. and the U.K. on September 16, aimed at accelerating advancements in AI infrastructure and next-generation quantum computing [3]. Institutional Insights - As China enters its 15th Five-Year Plan, sectors like AI, quantum computing, and commercial aerospace are expected to become significant investment opportunities over the next 5-10 years [5]. - The quantum computing industry is at a critical juncture, transitioning from laboratory research to industrial applications, with expectations of large-scale applications by 2027-2029 [5]. - The global quantum computing market is projected to reach $5.037 billion in 2024, growing by 7.46% from 2023, with significant growth expected to continue through 2030 [5].

In 2025, the quantum computing space essentially broke out of obscurity, with AI’s unrelenting demand spilling into virtually every compute bottleneck. For perspective, the “quantum cohort,” as I like to call it, comprised of IonQ (IONQ), Rigetti, D-Wave, and Quantum Computing Inc., currently commands a combined market cap exceeding $50 billion. The stock returns over the past year in these quantum bellwethers have been staggering. IonQ has surged over 92%, while Rigetti and D-Wave have soared 274% and 4 ...