2025 first-half earnings: RIBER confirms the rollout of its roadmap and its annual outlook. Half-year revenues and earnings, particularly marked by seasonal activity patterns. Order book of €27.7m at June 30, 2025, strengthened since the summer by around €14m in additional orders.First two sales of ROSIE, a key milestone in the silicon photonics roadmap2025 target confirmed: revenues > €40m Bezons, September 25, 2025 - 8:00am - RIBER, a global market leader for semiconductor industry equipment, is releasin ...

Group 1: Market Overview - The Russell 2000 Index (RUT) reached a new record high, driven by momentum from anticipated rate cuts [1] - The small cap iShares Russell 2000 ETF (IWM) saw significant gains, with various holdings benefiting from this trend [1] Group 2: Key Company Highlights - Bloom Energy Corp (NYSE:BE) was highlighted as a top pick, with Morgan Stanley raising its price target from $44 to $85, citing its partnership with Oracle and its role in powering AI data centers; BE closed the week at $82.93, up 273% in 2025 [2] - IonQ Inc (NYSE:IONQ) announced acquisitions of Vector Atomic and Oxford Ionics, and a memorandum of understanding with the Department of Energy to advance quantum technologies; IONQ experienced a seven-day win streak, briefly crossing $70 [3] - Rigetti Computing Inc (NYSE:RGTI) and D-Wave Quantum Inc (NYSE:QBTS) also saw significant gains of 49% and 51% respectively, with Rigetti securing a $5.8 million contract from the Air Force Research Laboratory and D-Wave reporting 83% year-over-year growth in the Asia-Pacific region [4] Group 3: Sector Trends - The quantum computing sector is experiencing a surge, with companies establishing legitimacy despite previous volatility; IONQ and QBTS faced post-earnings drawdowns, while Rigetti gained 6.1% after earnings [5] - Oklo Inc (NYSE:OKLO), a small-module reactor company, rose nearly 60% this week, benefiting from increased demand following U.S. Energy Secretary announcements and a U.S.-U.K. nuclear energy pact [6][7] - All highlighted companies, including those in clean energy, quantum computing, and nuclear reactors, have shown up on a Short Squeeze screen, indicating potential for further volatility despite recent gains [8]

Market Overview - The S&P 500 Index is up +0.67%, the Dow Jones Industrials Index is up +0.46%, and the Nasdaq 100 Index is up +1.19% [1] - September E-mini S&P futures are up +0.63%, and September E-mini Nasdaq futures are up +1.19% [1] Economic Indicators - Weekly initial unemployment claims fell by -33,000 to 231,000, indicating a stronger labor market than the expected 240,000 [4] - The September Philadelphia Fed business outlook survey rose by +23.5 to an 8-month high of 23.2, surpassing expectations of 1.7 [4] - August leading indicators fell -0.5% month-over-month, worse than the expected -0.2% [5] Federal Reserve Actions - The Fed cut interest rates by 25 basis points and signaled another 50 basis points of rate cuts by the end of the year [3][8] - Markets are pricing in an 86% chance of a 25 basis points rate cut at the next FOMC meeting on October 28-29 [5] Stock Movements - Intel surged by +25% after Nvidia agreed to invest $5 billion in the company for co-developing chips [2][11] - CrowdStrike Home is up more than +10% following a positive investor briefing on its AI strategy [12] - 89bio increased by +86% after Roche announced its acquisition for $3.5 billion [12] - Darden Restaurants is down more than -9% after forecasting adjusted EPS below consensus [14] - ARM Holdings is down more than -4% following Nvidia's investment in Intel [15]

Core Viewpoint - Humanoid Global Holdings Corp. has appointed B. Spencer Martin to its Investment Advisory Board, enhancing its investment capabilities in the humanoid robotics and embodied AI sector [1][4]. Company Overview - Humanoid Global is a publicly traded investment issuer focused on building a portfolio of pioneering companies in the humanoid robotics and embodied AI sector, providing liquidity and access to an actively managed portfolio [7]. - The company takes a long-term, partnership-oriented approach, offering capital and strategic consultation on go-to-market strategies, regulatory pathways, and transaction advisory [7]. Appointment of B. Spencer Martin - B. Spencer Martin is a seasoned investor-operator with a strong background in technology and innovation, having previously served as a Partner at TELUS Global Ventures [2][3]. - Martin has completed over 50 transactions across the U.S., Canada, Australia, and the U.K., with deal sizes ranging from $10 million to $350 million [2]. - He has extensive board experience, having served in 10 board roles and achieved successful exits in deep-tech sectors, including artificial intelligence and quantum technologies [3]. Role and Responsibilities - Martin will advise on investment and capital allocation areas, including deal origination, investment analysis, due diligence, and portfolio construction and monitoring [4]. - His appointment is expected to strengthen the company's investment capital markets strategy and enhance long-term shareholder value [4]. Advisory Agreement - The advisory agreement with Martin has a term of twelve months, starting from September 11, 2025, with the option for either party to terminate at any time [5]. - The company has granted Martin 25,000 restricted share units (RSUs), which will vest immediately and expire on September 12, 2030 [6].

Financial Data and Key Metrics Changes - Revenue for Q2 2025 totaled approximately $0.061 million, a decrease from $0.183 million in the same quarter of the previous year [15] - Gross margin increased to 43% from 32% year-over-year, although it remains variable at current revenue levels [15] - Net loss attributable to common stockholders was $36 million for Q2 2025, compared to a net loss of $5 million in Q2 2024 [17] - Total assets increased to $426 million as of June 30, 2025, up from $154 million at the end of 2024 [18] - Cash and equivalents rose by $270 million in the first half of 2025 to $349 million, bolstered by net proceeds of $188 million raised in Q2 [18] - Total liabilities decreased to $30 million, down approximately $16 million compared to year-end 2024 [19] - Stockholders' equity rose to $396 million as of June 30, 2025, reflecting a strengthened capital position [19] Business Line Data and Key Metrics Changes - The company is focused on two revenue streams: quantum machines for complex optimization and a photonic chip foundry for next-generation communication [5] - Significant orders were secured for quantum photonic systems and entangled photon sources, indicating growing commercial adoption [8][9] - A major automotive manufacturer purchased an EMUCORE reservoir computing system, showcasing real-world applications of the technology [10] Market Data and Key Metrics Changes - The company is positioned in a rapidly accelerating market for quantum technologies, with increasing awareness of their role in various sectors [6] - The domestic semiconductor and photonic manufacturing momentum is creating new commercial opportunities for the foundry [6] Company Strategy and Development Direction - The growth strategy is centered on delivering practical, high-performance quantum and photonic technologies rather than theoretical performance [5] - The company aims to integrate quantum machines with nanophotonic chips to enhance performance and reduce costs [23] - The foundry is expected to support both the development of quantum machines and offer services to other companies [24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's progress and the potential of its technologies to deliver real-world solutions [20] - The focus for the next two to three years will be on integrating quantum machines with nanophotonic chips to enhance performance [23] Other Important Information - The company completed a $200 million financing round, strengthening its capital position [16] - Key leadership appointments were made to support the next phase of execution, including a new CFO and COO [13] - The company was added to the Russell 3000 and Russell 2000 indices, increasing visibility among institutional investors [14] Q&A Session Summary Question: What are the most important milestones for the next one to three years? - Management highlighted the integration of quantum machines with nanophotonic chips as a key focus, aiming to enhance performance and reduce costs [23] Question: Will there be an acceleration in spending or M&A activities? - The CFO indicated that while they are hiring additional staff to accelerate technology development, there are no current plans for acquisitions, although strategic opportunities are being explored [27][28]

Group 1: Company Developments - Quantum Computing Inc. (QUBT) is making significant progress in 2025 with hardware advancements and strategic customer acquisitions, including the delivery of its first commercial entangled photon source to a South Korean research institution [1] - QUBT has made its commercial debut in quantum-secured communications by securing a $332,000 order from a top-five U.S. bank for a quantum communication system [2] - The company is targeting real-world applications across critical sectors such as finance, national security, space, and life sciences, indicating potential follow-on orders or scale-up discussions [3] Group 2: Industry Positioning - IonQ (IONQ) has partnered with Emergence Quantum to co-develop advanced materials and secured a $22 million deal to create a U.S. hub for quantum computing [4] - D-Wave Quantum (QBTS) raised $400 million to enhance liquidity for scaling and strategic M&A, and announced a NASA-partnered initiative to improve processor density [5] Group 3: Market Performance - QUBT shares have increased by 112.8% over the past three months, significantly outperforming the industry growth of 18.2% and the sector's rise of 19% [6] - The average target price for QUBT indicates a near-term upside, as it is currently trading 25% below its average Zacks price target [10]

Core Insights - Rigetti Computing (RGTI) heavily relies on U.S. government contracts to fund and validate its quantum technologies, including a $1.5 million contract with the Air Force Research Lab and a $3.9 million contract with DARPA [1][6] - The company's dependence on public sector revenue raises concerns about scalability and commercial maturity, as government projects often have long procurement cycles and may not lead to high-margin contracts [2][6] - Rigetti's stock has decreased by 14.3% year-to-date, contrasting with the industry's growth of 14.7%, and it trades at a high price-to-book ratio of 18.12, indicating weak value metrics [5][8] Government Contracts and Partnerships - Rigetti has secured multiple government contracts, including a multi-year project with the Department of Energy's Superconducting Quantum Materials and Systems Center, which reinforces its status as a trusted partner in early-stage quantum research [1] - The company delivered its 84-qubit Ankaa-1 system to the DoE's Quantum Systems Accelerator, showcasing its technological capabilities [1] Comparison with Peers - IonQ has also received significant government support, including a $13.4 million contract, while successfully converting private sector pilots into active engagements, indicating a more balanced revenue stream [3] - D-Wave collaborates with various agencies and has launched pilot projects in enterprise applications, positioning itself for broader revenue flexibility compared to Rigetti [4] Financial Performance and Estimates - The Zacks Consensus Estimate for Rigetti's 2025 earnings suggests an 86.1% rise from the previous year, although the company still faces challenges in achieving commercial uptake [9][10] - Current estimates indicate negative earnings per share for the upcoming quarters, with a year-over-year growth estimate of 14.29% for the current quarter [10]

Core Viewpoint - The International Science, Technology and Innovation Forum (ISTIF) of Boao Forum for Asia (BFA) will be held in Hong Kong on June 6-7, 2025, focusing on the theme of "Transitioning Towards the Future: Powered by Science and Technology Innovation" [1] Group 1: Forum Overview - The ISTIF serves as a platform for high-level dialogue among government, business, and academia in scientific and technological innovation, aiming to foster global collaboration and achieve the UN's 2030 Agenda for Sustainable Development [2] - Previous ISTIF sessions have taken place in Macao (2020), Guangzhou (2022), and Zhuhai (2023), leading to the establishment of long-term cooperation mechanisms in the Guangdong-Hong Kong-Macao Greater Bay Area and enhancing technology transfer along the Belt and Road Initiative [2] Group 2: Hong Kong's Role - Hong Kong is positioned as a gateway connecting the Chinese mainland, the Asia-Pacific region, and the global market, with its sci-tech innovation development accelerating due to its industrial clusters and status as a financial center [3] - Hosting the ISTIF will enhance Hong Kong's role as a "super-connector" and "super value-adder" in technological innovation, supporting the Greater Bay Area's ambition to become a globally influential hub [3] Group 3: Global Context and Challenges - The world is experiencing a rapid transformation in science and technology, which brings both benefits and challenges, including data security, technological ethics, and privacy protection [4] - The ISTIF aims to provide insights for strengthening international cooperation in sci-tech innovation and contribute to developing a new global governance framework for science and technology [4]