<p>量子计算股票在华尔街从几乎无人知晓到短短几个月内成为热门话题。去年十二月，<strong>Alphabet</strong> 表示其 Willow 量子芯片在量子计算方面取得了里程碑，解决复杂问题的时间仅需几分钟，而传统超级计算机则需要 10 的 27 次方年。此消息引发了对量子计算股票的狂热追捧，这些股票在选举后获得了动力。</p>
<p>赢家之一是 <strong>Quantum Computing Inc.</strong>（QUBT -5.60%），也称为 QCI，自 Alphabet 宣布以来，其股票大幅上涨。如下图所示，Quantum Computing 及其同行如 <strong>Rigetti Computing</strong>、<strong>IonQ</strong> 和 <strong>D-Wave Quantum</strong> 在过去一年中均大幅飙升，呈现相同趋势。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/011a7e5a92df379146b24787a3207ffb.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/011a7e5a92df379146b24787a3207ffb.png"/></p>
<p>QUBT 数据来源于 YCharts。</p>
<p>Quantum Computing 的股票虽然在其行业中并不是最具创意的名称，但在过去一年中却是四只量子计算股票中表现最好的。一些投资者认为它可能成为下一个 <strong>Nvidia</strong>，这只股票在过去十年中上涨了 100 倍，最近市值达到了 4 万亿美元。</p>
<p>他们说得对吗？让我们看看 Quantum Computing 的超级飙升是否能够持续。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU3NzAvcXVhbnR1bS1jb21wdXRpbmcuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU3NzAvcXVhbnR1bS1jb21wdXRpbmcuanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<h2>量子计算目前的状况</h2>
<p>Quantum Computing 之所以成为上述四只股票中表现最好的部分原因是它是最小的一只，因此受益于与其他三只股票相同的趋势，但从最低的基数起跳。它的市值仍然是该组中最低的，约为 30 亿美元，目前的收入微不足道。在第一季度，该公司仅获得 39,000 美元的收入，并录得 830 万美元的运营亏损。</p>
<p>该公司在量子计算方面追求的目标与上述同行不同。它专注于光子量子计算，而不是像 IonQ、Rigetti 和 Alphabet 等公司研究的超级计算技术。QCI 在第一季度取得了一个重要里程碑，完成了位于亚利桑那州的量子光子芯片工厂的建设，为满足对薄膜铌酸锂（TFLN）光子芯片日益增长的需求做好了准备。</p>
<p>管理层预计，一旦在该工厂开始生产，收入将在明年开始增长。此时，Quantum Computing 显然仍然是一只高风险股票，尽管根据当前运营情况，它有足够的流动性可以维持数年。在第一季度末，该公司拥有 1.664 亿美元的现金且没有债务。</p>
<h2>QCI 能否成为下一个 Nvidia？</h2>
<p>将像 Quantum Computing 这样年收入不足 100 万美元的公司与 Nvidia 进行比较是有些牵强的，即使其股票表现得像 Nvidia。QCI 几乎没有收入，也没有证明其业务能够运作或对其产品有足够或可持续的需求。然而，大多数突破性技术都是这样开始的，Nvidia 也花了时间才达到今天的地步。</p>
<p>Nvidia 在 1999 年推出了图形处理单元（GPU），其定义性的创新自那时以来经历了多次迭代、扩展和演变。然而，即使在 1999 年，Nvidia 的规模也远大于今天的 QCI。在截至 2000 年 1 月 30 日的财政年度中，Nvidia 报告的收入为 3.745 亿美元。</p>
<p>QCI 是否能够继续为投资者带来回报，取决于量子计算是否真的成为下一个突破性技术。考虑到上述股票的激增，投资者将其视为突破性技术，尽管现在还为时已早。</p>
<p>关注 QCI 的新光子芯片在明年表现如何，该公司计划在明年加大生产力度，以及其生产工作进行得多么顺利。如果对其反应与我们看到的 AI 芯片类似，QCI 可能会向成为下一个 Nvidia 迈出一小步。</p>

谷歌-C

谷歌-A

<p>量子计算公司（Quantum Computing Inc.，QUBT）在股市中引起了显著关注，此前谷歌母公司 Alphabet 宣布在量子计算方面取得突破。尽管 QCI 的市值仅为 30 亿美元且收入微薄，但其股票表现超过了同行。该公司专注于光子量子计算，并最近完成了其量子光子芯片工厂。虽然 QCI 被视为一种高风险投资，且没有经过验证的收入模型，但其未来取决于新光子芯片的成功以及量子计算作为一种变革性技术的潜力</p>

<p>Quantum computing stocks have gone from virtually unknown on Wall Street to all the rage in just a few months. Last December, <strong>Alphabet</strong> said that its Willow quantum chip had achieved a milestone in quantum computing, solving complex problems in minutes that would take traditional supercomputers 10 septillion years. The news sparked a frenzy for quantum computing stocks, which had gained momentum following the election.</p>
<div class="lb-trans"><p>量子计算股票在华尔街从几乎无人知晓到短短几个月内成为热门话题。去年十二月，<strong>Alphabet</strong> 表示其 Willow 量子芯片在量子计算方面取得了里程碑，解决复杂问题的时间仅需几分钟，而传统超级计算机则需要 10 的 27 次方年。此消息引发了对量子计算股票的狂热追捧，这些股票在选举后获得了动力。</p>
</div><p>Among the winners was <strong>Quantum Computing Inc.</strong>(QUBT -5.60%), also known as QCI, and its stock has soared since Alphabet's announcement. As the chart below shows, Quantum Computing and peers like <strong>Rigetti Computing</strong>, <strong>IonQ</strong>, and <strong>D-Wave Quantum</strong> have all skyrocketed over the last year, following the same trend.</p>
<div class="lb-trans"><p>赢家之一是 <strong>Quantum Computing Inc.</strong>（QUBT -5.60%），也称为 QCI，自 Alphabet 宣布以来，其股票大幅上涨。如下图所示，Quantum Computing 及其同行如 <strong>Rigetti Computing</strong>、<strong>IonQ</strong> 和 <strong>D-Wave Quantum</strong> 在过去一年中均大幅飙升，呈现相同趋势。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/011a7e5a92df379146b24787a3207ffb.png" alt="" original-src="https://media.ycharts.com/charts/011a7e5a92df379146b24787a3207ffb.png"/></p>
<p>QUBT data by YCharts.</p>
<div class="lb-trans"><p>QUBT 数据来源于 YCharts。</p>
</div><p>Quantum Computing stock won't win the title of most creative name in its sector, but it's the best performing of the four quantum computing stocks over the past year. Some investors believe it could be the next <strong>Nvidia</strong>, a stock that has jumped 100x over the last decade, recently reaching a market cap of $4 trillion.</p>
<div class="lb-trans"><p>Quantum Computing 的股票虽然在其行业中并不是最具创意的名称，但在过去一年中却是四只量子计算股票中表现最好的。一些投资者认为它可能成为下一个 <strong>Nvidia</strong>，这只股票在过去十年中上涨了 100 倍，最近市值达到了 4 万亿美元。</p>
</div><p>Are they right? Let's see if Quantum Computing's super surge can continue.</p>
<div class="lb-trans"><p>他们说得对吗？让我们看看 Quantum Computing 的超级飙升是否能够持续。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU3NzAvcXVhbnR1bS1jb21wdXRpbmcuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F825770%2Fquantum-computing.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>Where Quantum Computing stands today</h2>
<div class="lb-trans"><h2>量子计算目前的状况</h2>
</div><p>Part of the reason Quantum Computing has been the best performing of the four stocks above is that it's the smallest one, so it benefited from the same trend as the three others but jumped off the lowest base. It still has the lowest market cap of the group at $3 billion, and its revenue is negligible at this point. In the first quarter, the company brought in just $39,000 in revenue and posted an operating loss of $8.3 million.</p>
<div class="lb-trans"><p>Quantum Computing 之所以成为上述四只股票中表现最好的部分原因是它是最小的一只，因此受益于与其他三只股票相同的趋势，但从最低的基数起跳。它的市值仍然是该组中最低的，约为 30 亿美元，目前的收入微不足道。在第一季度，该公司仅获得 39,000 美元的收入，并录得 830 万美元的运营亏损。</p>
</div><p>The company is pursuing a different goal in quantum computing than its peers above. It's focused on photonic quantum computing, rather than the supercomputing technologies that companies like IonQ, Rigetti, and Alphabet are researching. QCI achieved an important milestone in the first quarter, completing construction on its Quantum Photonic Chip Foundry in Arizona, which sets it up to meet growing demand for thin film lithium niobate (TFLN) photonic chips.</p>
<div class="lb-trans"><p>该公司在量子计算方面追求的目标与上述同行不同。它专注于光子量子计算，而不是像 IonQ、Rigetti 和 Alphabet 等公司研究的超级计算技术。QCI 在第一季度取得了一个重要里程碑，完成了位于亚利桑那州的量子光子芯片工厂的建设，为满足对薄膜铌酸锂（TFLN）光子芯片日益增长的需求做好了准备。</p>
</div><p>Management expects revenue to begin to ramp up next year once it begins production at that foundry. At this point, Quantum Computing is still clearly a high-risk stock, though it has enough liquidity to last several years, based on current operations. At the end of the first quarter, the company had $166.4 million in cash and no debt.</p>
<div class="lb-trans"><p>管理层预计，一旦在该工厂开始生产，收入将在明年开始增长。此时，Quantum Computing 显然仍然是一只高风险股票，尽管根据当前运营情况，它有足够的流动性可以维持数年。在第一季度末，该公司拥有 1.664 亿美元的现金且没有债务。</p>
</div><h2>Can QCI become the next Nvidia?</h2>
<div class="lb-trans"><h2>QCI 能否成为下一个 Nvidia？</h2>
</div><p>Comparing a company like Quantum Computing, which has run-rate revenue of less than $1 million, to Nvidia is a stretch, even if the stock is behaving like it. QCI has essentially no revenue, and there's no proof of concept that the business can work or sufficient or sustainable demand for its product. Still, most breakthrough technologies begin that way, and it took time for Nvidia to get to where it is today.</p>
<div class="lb-trans"><p>将像 Quantum Computing 这样年收入不足 100 万美元的公司与 Nvidia 进行比较是有些牵强的，即使其股票表现得像 Nvidia。QCI 几乎没有收入，也没有证明其业务能够运作或对其产品有足够或可持续的需求。然而，大多数突破性技术都是这样开始的，Nvidia 也花了时间才达到今天的地步。</p>
</div><p>Nvidia introduced the graphics processing unit (GPU) in 1999, and its defining innovation has iterated, expanded, and evolved many times over since then. However, even back in 1999, Nvidia was much bigger than QCI is today. In the fiscal year ended Jan. 30, 2000, Nvidia reported $374.5 million in revenue in the fiscal year that ended Jan. 30, 2000.</p>
<div class="lb-trans"><p>Nvidia 在 1999 年推出了图形处理单元（GPU），其定义性的创新自那时以来经历了多次迭代、扩展和演变。然而，即使在 1999 年，Nvidia 的规模也远大于今天的 QCI。在截至 2000 年 1 月 30 日的财政年度中，Nvidia 报告的收入为 3.745 亿美元。</p>
</div><p>Whether or not QCI can continue to deliver for investors depends on whether quantum computing is truly the next breakthrough technology. Given the surge in the stock above, investors are treating it like it is, though it's too early to tell.</p>
<div class="lb-trans"><p>QCI 是否能够继续为投资者带来回报，取决于量子计算是否真的成为下一个突破性技术。考虑到上述股票的激增，投资者将其视为突破性技术，尽管现在还为时已早。</p>
</div><p>Keep an eye on how QCI's new photonic chips do next year when the company intends to ramp up production and how smoothly its production efforts go. If there's a similar response to what we've seen to AI chips, QCI could take one small step toward being the next Nvidia.</p>
<div class="lb-trans"><p>关注 QCI 的新光子芯片在明年表现如何，该公司计划在明年加大生产力度，以及其生产工作进行得多么顺利。如果对其反应与我们看到的 AI 芯片类似，QCI 可能会向成为下一个 Nvidia 迈出一小步。</p>
</div>

Is Quantum Computing Inc. the Next Nvidia?

- 量子计算股票在短时间内迅速崛起，Alphabet 的公告引发热潮。  
- Quantum Computing Inc.（QCI）是表现最佳的量子计算股票，市值为 30 亿美元。  
- QCI 专注于光子量子计算，预计明年开始增收，风险依然较高。  

量子计算公司会成为下一个英伟达吗？