Core Insights - The quantum computing sector is experiencing significant attention as companies report their Q3 earnings, with varying results across different firms [1] Rigetti Computing (RGTI) - Rigetti reported Q3 losses of $0.03 per share, outperforming analyst expectations of a $0.04 loss [2] - Quarterly revenue was $1.94 million, falling short of the $2.17 million estimate and down from $2.37 million year-over-year [3] - The company aims to deliver a 100+ qubit chiplet-based quantum system by the end of 2025, targeting a median two-qubit gate fidelity of 99.5% [3] - Rigetti plans to deploy a 150+ qubit system by the end of 2026 and a 1,000+ qubit system by the end of 2027, with anticipated gate fidelities of 99.7% and 99.8%, respectively [4] - Rigetti's stock has declined by 30% over the past month [4] IonQ (IONQ) - IonQ reported adjusted losses of $0.17 per share, beating the consensus estimate of a $0.44 loss [5] - The company achieved quarterly revenue of $39.9 million, exceeding the $27 million estimate by 47.75% and marking a 221.5% increase from $12.4 million in the same quarter last year [5] - IonQ raised its full-year 2025 revenue outlook to between $106 million and $110 million, up from the previous range of $82 million to $100 million [6] D-Wave Quantum (QBTS) - D-Wave reported an adjusted loss of $0.41 per share, missing the consensus estimate of a $0.07 loss, but revenue of $3.73 million exceeded the estimate of $3.03 million [7] - Revenue for Q3 increased by 100% year-over-year from $1.9 million, with bookings reaching $2.4 million, an 80% increase from the previous quarter [7][8] - D-Wave shares have decreased by over 9% in the past month [9] Quantum Computing, Inc. (QUBT) - Quantum Computing, Inc. is set to report its Q3 results, with analysts expecting losses of $0.06 per share and revenue of $116,670 [10] - The company's shares have dropped more than 35% over the past month [10]

Core Insights - The company ION Q has reported a significant 37% revenue beat for Q3 and has raised its revenue guidance to $110 million for the year [2] - ION Q has raised $3.5 billion in capital this year, with $2 billion raised in the last six weeks [2] - The company achieved a milestone of 99.99% fidelity, indicating progress towards building a fault-tolerant quantum machine [3] - ION Q is positioned as the leader in quantum computing, networking, and sensing, with a focus on delivering strong results and growth [4][6] - The company has established itself as the largest quantum company by various metrics, including market capitalization and revenue [6] - ION Q is expanding its product offerings and solutions across multiple environments, enhancing its market presence [7] - The company has entered an agreement to acquire Skylum, which will bolster its investments in quantum networking [9] - Recent partnerships include launching a quantum network with the city of Geneva and collaborations with other organizations [10][11] Financial Performance - ION Q's revenue for Q3 exceeded expectations by 37%, showcasing strong financial performance [2] - The company has consistently doubled its revenue every year since its IPO, indicating robust growth [8] Market Position - ION Q is recognized as the market share leader in quantum technology, aiming to maintain its position as both a technical and commercialization leader [11] - The company is actively building an ecosystem around quantum solutions, enhancing its competitive edge [11]

Core Insights - Regetti Computing's shares have seen a significant increase of approximately 2,000% over the past year, despite a revenue miss in Q3 [1] - The company emphasizes the long-term potential of quantum computing, which is expected to revolutionize computing speed and energy efficiency [3][4] - Current focus remains on research and development (R&D), with a projected timeline of 3 to 4 years before achieving quantum advantage over classical computing [8] Company Overview - Regetti Computing currently has a market capitalization of $10 billion but reports minimal revenue, prompting discussions on how investors should value its shares [2] - The company is in the R&D phase, working towards perfecting quantum computing technology [4][5] Industry Context - Quantum computing is anticipated to produce computers that are millions to billions of times faster than conventional computers while consuming significantly less energy [3] - The industry is moving towards a hybrid computing ecosystem where quantum processing units (QPUs) will coexist with traditional CPUs and GPUs in data centers [10][11] - Companies like IBM and HSBC are beginning to showcase specific use cases for quantum computing, indicating progress in the field [6][7] Future Projections - The transition from R&D to monetization is uncertain, with expectations that practical workloads for quantum computers in data centers will emerge in the next 3 to 5 years [9][14] - The concept of quantum advantage, where quantum computing clearly outperforms classical computing, is projected to be realized in about 3 to 4 years [8][14]

AI Industry Profitability & Investment - Anthropic anticipates breaking even by 2028, contrasting with OpenAI's projected $74 billion operating losses that year [1] - SoftBank's Masayoshi Son may regret selling Nvidia stock, using proceeds to invest in OpenAI [3][8] - The AI trade needs a wider aperture beyond large language models to include sectors like energy, biopharma, and robotics for better investment returns [9][10] AI Applications & Technological Advancements - AI is transforming the Gulf region in both the digital and physical realms [2] - AI for the physical world, exemplified by the Nvidia deal, focuses on creating new battery chemistry catalysts, essential for 80% of manufacturing and the energy industry [4][5] - AI can improve energy efficiency by enabling new battery chemistries to store the 40% of electrons wasted at night in the US [5][6] - Nvidia is rapidly innovating its chips, with new specs and systems like NVQ link being announced frequently [11] - A hybridized scenario involving GPUs, CPUs, and QPUs (quantum processing units) is emerging, with connections between GPUs and quantum computers being established [11][12] Nvidia's Market Position - Nvidia's GPUs and associated software will continue to see strong demand due to AI's expansion into various sectors [10]

Core Insights - Rigetti Computing Inc (NASDAQ:RGTI) experienced a decline of 4.6%, trading at $31.57 after reporting mixed third-quarter results [1] - The company reported adjusted losses of 3 cents per share, which were better than the anticipated losses of 5 cents per share, but revenue of $1.95 million fell short of estimates of $2.2 million [1] Stock Performance - Since reaching a record high of $58.15 on October 14, RGTI has seen a 45% decrease in its stock price [2] - Despite the recent decline, the stock has increased by 107.6% year to date [2] Options Activity - RGTI has seen significant options trading activity, with 30,000 puts and 24,000 calls exchanged [4] - The most popular option is the November 12 put, with new positions being opened at the weekly 11/14 31-strike put [4] - The stock's 50-day put/call volume ratio stands at 3.18, indicating a higher put bias compared to 95% of readings from the past year [4]

Security Threat - Quantum computing poses a threat to current encryption methods [1] - "Harvest now, decrypt later" attacks could potentially expose sensitive data [1] Post-Quantum Cryptography - The industry faces the challenge of adopting post-quantum cryptography quickly enough [1]

Group 1 - SoftBank sold its entire stake in Nvidia for $5.8 billion, leading to a nearly 10% drop in Coreweave's shares, which rent Nvidia's GPUs [12][6][13] - SoftBank's second-quarter net profit more than doubled to $16.6 billion, driven by valuation gains in its OpenAI holdings [13][14] - The exit from Nvidia aligns with SoftBank's strategy to fund future AI investments, including a $1 trillion AI manufacturing hub in Arizona [14][15] Group 2 - Animoka Brands plans to go public again through a reverse merger with Current Group, aiming to own 95% of the merged entity [16][20] - The merger is seen as strategic, combining Animoka's focus on crypto and tokenization with Current's fintech services [20][22] - The regulatory environment for crypto has improved since Animoka's delisting from the Australian Securities Exchange in 2020 [23][24] Group 3 - Investors are showing interest in AI, with Coreweave's Q3 results beating estimates but issuing weaker full-year guidance, reviving concerns about AI spending returns [5][6][14] - The potential trade deal between the US and Switzerland could lower tariffs on Swiss exports, positively impacting companies like Swatch and Richemont [33][34] - Rocket Lab reported a 48% year-over-year revenue increase, reaching $155 million, indicating strong demand and growth prospects [37]

Core Viewpoint - Traders are shifting their focus from artificial intelligence (AI) stocks to quantum computing stocks in search of significant price movements [1] Group 1 - The interest in quantum computing stocks is growing as traders seek alternatives to AI stocks for potential high returns [1]

Core Insights - Rigetti Computing reported a smaller-than-expected adjusted loss for Q3, but revenue fell short of consensus estimates, leading to a decline in stock price [1][2][4]. Financial Performance - For Q3, Rigetti reported a loss of 3 cents per share on an adjusted basis, compared to a 7-cent loss a year earlier [2]. - Revenue decreased by 18% to $1.95 million, while analysts had forecasted a 5-cent loss on revenue of $2.2 million [2]. Technology Development - The company is on track to deliver a 100-plus qubit chiplet-based quantum system with an anticipated 99.5% median two-qubit gate fidelity by the end of 2025, as stated by CEO Subodh Kulkarni [3]. Market Reaction - Rigetti's stock fell over 4% to $31.72 in early trading following the earnings report, despite having advanced 68% in 2025 prior to the report [4]. Contracts and Revenue Recognition - Earlier in the year, Rigetti secured a $5.8 million contract with the Air Force Research Laboratory to explore quantum networking, but has yet to recognize any revenue from this deal [4]. Industry Context - Quantum computing operates on a subatomic level and aims to solve complex problems beyond the capabilities of classical computers [5]. - The quantum computing sector has experienced volatility in 2025, influenced by controversies surrounding Nvidia and the timeline for commercially viable quantum technology [5]. Stock Ratings - Rigetti holds a Composite Rating of 70 out of a best-possible 99, indicating moderate growth potential [6]. - The stock has an Accumulation/Distribution Rating of A, suggesting heavy institutional buying over the past 13 weeks [7].

Core Insights - ZenaTech, Inc. reported a record revenue growth of 1,225% year-over-year for Q3 2025, achieving $4.35 million in revenue, driven by the success of its Drone as a Service segment and enterprise SaaS software [1][5][9] Financial Overview - Revenue for the first nine months of 2025 reached $7.73 million, a nearly 6X increase from $1.29 million in the same period of 2024 [5] - The Drone as a Service segment generated $3.57 million in revenue during Q3 2025, compared to zero in Q3 2024 [5] - The enterprise SaaS software segment revenue grew to $776,908, representing a 137% increase year-over-year [5] - Working capital increased to $23.6 million as of September 30, 2025, up from $3.4 million at the end of 2024 [5] - Total assets grew to $78.5 million at the end of Q3 2025, up from $34.65 million at the end of 2024 [6] Operational Highlights - The company completed four acquisitions of land survey engineering companies, expanding its Drone as a Service footprint to ten locations across the US [5][12] - A new manufacturing facility was established in Mesa, Arizona, for the production of drones for US defense agencies [12] - The company is focusing on R&D projects, including the development of specialized AI drone applications for the US military [12] Strategic Outlook - ZenaTech anticipates continued revenue and operational growth into 2026, driven by increasing demand for drone technology and software solutions [9] - The company aims to expand its Drone as a Service operations in the US and internationally, targeting a total of 25 acquisitions by mid-2026 [12] - There is a focus on building partnerships in various sectors, including utilities, construction, and government, to enhance drone service offerings [12]