<p>量子计算在过去一年中无疑是市场上最热门的子行业之一，其中一些股票的回报令人瞩目。但投资者对量子计算的真正潜力以及该技术是否能够实现大众商业化仍存在广泛的争论。一家在市场上引起轰动的量子公司是 <strong>Rigetti Computing</strong>(RGTI 0.13%)，其股票在过去一年中暴涨超过 3700%。</p>
<p>华尔街的亿万富翁投资者似乎开始注意到这一点。在第二季度，世界顶级对冲基金开始大量投资 Rigetti，这可能是一个看涨的信号。</p>
<h2>量子技术获得更多支持</h2>
<p>量子计算机可能是计算机历史上的下一个重大突破，利用量子比特的力量。量子比特可以在数字系统中看到的黑白零和一之间具有值，使其更适合解决某种类型的复杂模式识别问题。这听起来可能过于狭窄而不具实用性，但这些特定任务在医学研究、金融建模和密码学等领域至关重要。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzU1MDYvYm9hcmRyb29tLTIuanBnJnc9NzAw?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzU1MDYvYm9hcmRyb29tLTIuanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<p>一些研究人员认为，一旦量子计算机的潜力被实现，它们将在某些特定的专业任务上比今天最好的超级计算机更强大，并能够解决一些社会上最大的难题，包括金融领域的问题。</p>
<p>Rigetti 是量子计算机开发的早期领导者。今年七月，该公司宣布其 36 量子比特系统实现了非常高的中位数 2 量子比特门保真度 99.5%。不同公司对门保真度的定义各不相同，因此很难进行直接比较。不过，99.5% 的结果代表了 Rigetti 2024 旗舰产品 Ankaa-2 的一半噪声。</p>
<p>此外，量子系统的量子比特越多，理论上它的计算能力就越强。管理层还表示，计划在 2025 年底之前发布一款具有类似精度的 100 量子比特系统。</p>
<p>对市场观察者来说，令人鼓舞的是，政府似乎对量子商业化的想法更加开放。最近，空军研究实验室授予 Rigetti 一份 580 万美元的合同，以帮助其开发超导量子网络，这将提供量子计算系统内快速准确的数据传输。</p>
<p>B. Riley Financial 的分析师 Craig Ellis 最近重申了对 Rigetti 的买入评级，并将其目标价提高至华尔街最高的每股 35 美元。Ellis 特别强调了能源部国家实验室的情绪变化，现在似乎更加关注具有明确商业价值的量子技术。</p>
<p>“曾经的前沿技术正在迅速朝着集成能力和商业化方向发展，” 他说。</p>
<p>亿万富翁及其对冲基金似乎开始注意到这一变化，第二季度的几项举动突显了这一点：</p>
<ul>
<li>Citadel Advisers，Citadel 对冲基金运营的投资管理公司，在第二季度将其持仓增加了超过 50%，现在拥有超过 120 万股。</li>
<li>由 Paul Tudor Jones 管理的 Tudor Investment 在本季度建立了一个新头寸，购买了超过 90 万股。</li>
<li>由亿万富翁 John Overdeck 和 David Siegel 创立的 Two Sigma Investments，现任公司董事会共同主席，增加了 183% 的持仓，达到超过 60 万股。</li>
</ul>
<h2>对聪明资金保持怀疑</h2>
<p>虽然跟随聪明资金是寻找新投资想法和双重检查投资论点的好方法，但投资者不应盲目跟随这些举动。首先，这些举动是在过去做出的，投资者通常在交易实际发生几个月后才在监管文件中发现它们。</p>
<p>此外，散户投资者永远无法真正了解对冲基金持仓背后的动机。对冲基金通常进行短期交易，这对散户投资者来说并不是一个好的投资方法。最后，虽然亿万富翁管理这些对冲基金，但很难知道他们在投资决策中真正参与了多少。我相信他们在某种程度上有影响力，他们可能在招聘投资组合经理方面发挥了重要作用，但这并不意味着他们一定是按下买入按钮的人。</p>
<p>Rigetti 的技术具有巨大的潜力。然而，该股票的市值为 96 亿美元，产生的收入非常少，并且刚刚开始实现盈亏平衡。此外，大规模商业成功可能还需要数年时间，而量子计算本质上是一项昂贵且困难的技术。向前迈出的每一步都不会轻松。</p>
<p>如果 Rigetti 能够实现量子计算机的商业化，并且它们的能力如一些专家所认为的那样强大，那么该股票可能会成为一个大赢家。但任何小的波动都可能导致剧烈的抛售。因此，我建议避免该股票或仅投资少量的投机资金。</p>

RGTI

<p>亿万富翁们越来越多地投资于 Rigetti Computing，这是一家量子计算公司，其股票在过去一年中上涨了超过 3700%。对冲基金如 Citadel 和 Tudor Investment 显著增加了他们的持仓，显示出看涨的情绪。Rigetti 在量子技术方面的进展，包括一个高保真度的 36 量子比特系统和一份 580 万美元的政府合同，增强了其潜力。然而，该股票的高市值和低收入引发了对其长期可行性的担忧，这对散户投资者来说意味着需要谨慎</p>

<p>Quantum computing has arguably been one of the hottest subsectors of the market over the past year, with a few of these stocks generating jaw-dropping returns. But there's still wide debate among investors over quantum computing's true potential and whether the technology can be commercialized to the masses. One quantum company that has taken the market by storm is <strong>Rigetti Computing</strong>(RGTI 0.13%), which has seen its stock explode over 3,700% in just the past year.</p>
<div class="lb-trans"><p>量子计算在过去一年中无疑是市场上最热门的子行业之一，其中一些股票的回报令人瞩目。但投资者对量子计算的真正潜力以及该技术是否能够实现大众商业化仍存在广泛的争论。一家在市场上引起轰动的量子公司是 <strong>Rigetti Computing</strong>(RGTI 0.13%)，其股票在过去一年中暴涨超过 3700%。</p>
</div><p>Billionaire investors on Wall Street seem to be taking notice. In the second quarter, some of the world's top hedge funds began piling into Rigetti, a potentially bullish signal.</p>
<div class="lb-trans"><p>华尔街的亿万富翁投资者似乎开始注意到这一点。在第二季度，世界顶级对冲基金开始大量投资 Rigetti，这可能是一个看涨的信号。</p>
</div><h2>Quantum is getting more support</h2>
<div class="lb-trans"><h2>量子技术获得更多支持</h2>
</div><p>Quantum computers may be the next big thing in the history of computers, harnessing the power of quantum qubits. The qubits can have values between the black-and-white zeroes and ones seen in digital systems, making them better suited to solving a certain type of complex pattern-finding problems. That may sound too narrow to be useful, but these specific tasks are crucial in fields such as medical research, financial modeling, and cryptography.</p>
<div class="lb-trans"><p>量子计算机可能是计算机历史上的下一个重大突破，利用量子比特的力量。量子比特可以在数字系统中看到的黑白零和一之间具有值，使其更适合解决某种类型的复杂模式识别问题。这听起来可能过于狭窄而不具实用性，但这些特定任务在医学研究、金融建模和密码学等领域至关重要。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzU1MDYvYm9hcmRyb29tLTIuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F835506%2Fboardroom-2.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><p>Some researchers believe that once the potential of quantum computers is realized, they will be more powerful than the best supercomputers today (for a certain set of specialized tasks) and will be able to solve some of society's biggest problems, including those in finance.</p>
<div class="lb-trans"><p>一些研究人员认为，一旦量子计算机的潜力被实现，它们将在某些特定的专业任务上比今天最好的超级计算机更强大，并能够解决一些社会上最大的难题，包括金融领域的问题。</p>
</div><p>Rigetti is an early leader in the development of quantum computers. In July, the company announced that its 36-qubit system had achieved a very high median 2-qubit gate fidelity of 99.5%. Different companies define gate fidelity in different ways, so it's hard to compare apples to apples here. Still, the 99.5% result represented half the noise of Rigetti's 2024 flagship, the Ankaa-2</p>
<div class="lb-trans"><p>Rigetti 是量子计算机开发的早期领导者。今年七月，该公司宣布其 36 量子比特系统实现了非常高的中位数 2 量子比特门保真度 99.5%。不同公司对门保真度的定义各不相同，因此很难进行直接比较。不过，99.5% 的结果代表了 Rigetti 2024 旗舰产品 Ankaa-2 的一半噪声。</p>
</div><p>Also, the more qubits a quantum system has, the more theoretically powerful it is. Management also said it was on track to release a 100-qubit system with similar accuracy by the end of 2025.</p>
<div class="lb-trans"><p>此外，量子系统的量子比特越多，理论上它的计算能力就越强。管理层还表示，计划在 2025 年底之前发布一款具有类似精度的 100 量子比特系统。</p>
</div><p>What's also been encouraging for market watchers is that the government seems more open to the idea of quantum commercialization. Recently, the Air Force Research Laboratory awarded Rigetti a $5.8 million contract to help it develop a superconducting quantum network, which would provide fast and accurate data transfer within a quantum computing system.</p>
<div class="lb-trans"><p>对市场观察者来说，令人鼓舞的是，政府似乎对量子商业化的想法更加开放。最近，空军研究实验室授予 Rigetti 一份 580 万美元的合同，以帮助其开发超导量子网络，这将提供量子计算系统内快速准确的数据传输。</p>
</div><p>B. Riley Financial analyst Craig Ellis recently reiterated his buy rating on Rigetti and hiked his price target to a Wall Street high of $35 per share. Ellis specifically highlighted the shifting sentiment at the Department of Energy's National Laboratories, which now appears to focus on quantum technology with clear business value.</p>
<div class="lb-trans"><p>B. Riley Financial 的分析师 Craig Ellis 最近重申了对 Rigetti 的买入评级，并将其目标价提高至华尔街最高的每股 35 美元。Ellis 特别强调了能源部国家实验室的情绪变化，现在似乎更加关注具有明确商业价值的量子技术。</p>
</div><p>&#34;Former frontier technology is rapidly advancing toward integrated capability and commerciality,&#34; he said.</p>
<div class="lb-trans"><p>“曾经的前沿技术正在迅速朝着集成能力和商业化方向发展，” 他说。</p>
</div><p>Billionaires and their hedge funds seem to be taking notice of this shift, highlighted by several moves in the second quarter:</p>
<div class="lb-trans"><p>亿万富翁及其对冲基金似乎开始注意到这一变化，第二季度的几项举动突显了这一点：</p>
</div><ul>
<li>Citadel Advisers, the investment manager of Citadel's hedge fund operation, hiked its position in the second quarter by over 50% and now owns more than 1.2 million shares.</li>
<li>Tudor Investment, run by Paul Tudor Jones, initiated a position and purchased over 900,000 shares in the quarter.</li>
<li>Two Sigma Investments, founded by billionaires John Overdeck and David Siegel, who now serve as co-chairs of the company's board of directors, increased its position by 183%, to over 600,000 shares.</li>
</ul>
<div class="lb-trans"><ul>
<li>Citadel Advisers，Citadel 对冲基金运营的投资管理公司，在第二季度将其持仓增加了超过 50%，现在拥有超过 120 万股。</li>
<li>由 Paul Tudor Jones 管理的 Tudor Investment 在本季度建立了一个新头寸，购买了超过 90 万股。</li>
<li>由亿万富翁 John Overdeck 和 David Siegel 创立的 Two Sigma Investments，现任公司董事会共同主席，增加了 183% 的持仓，达到超过 60 万股。</li>
</ul>
</div><h2>Be skeptical of the smart money</h2>
<div class="lb-trans"><h2>对聪明资金保持怀疑</h2>
</div><p>While following the smart money is a great way to find new investment ideas and double-check an investment thesis, investors should not follow these moves blindly. For one, they were made in the past, and investors often discover them in regulatory filings released months after the trades actually occurred.</p>
<div class="lb-trans"><p>虽然跟随聪明资金是寻找新投资想法和双重检查投资论点的好方法，但投资者不应盲目跟随这些举动。首先，这些举动是在过去做出的，投资者通常在交易实际发生几个月后才在监管文件中发现它们。</p>
</div><p>Additionally, retail investors will truly never know the motive behind a hedge fund's position. Hedge funds often trade on a short-term basis, which is not a good investing approach for retail. Finally, while billionaires run these hedge funds, it's difficult to know how involved they truly are in investment decisions. I'm sure they have some role, and they likely have a big role in hiring portfolio managers, but that doesn't mean they are necessarily the ones pressing the buy button.</p>
<div class="lb-trans"><p>此外，散户投资者永远无法真正了解对冲基金持仓背后的动机。对冲基金通常进行短期交易，这对散户投资者来说并不是一个好的投资方法。最后，虽然亿万富翁管理这些对冲基金，但很难知道他们在投资决策中真正参与了多少。我相信他们在某种程度上有影响力，他们可能在招聘投资组合经理方面发挥了重要作用，但这并不意味着他们一定是按下买入按钮的人。</p>
</div><p>Rigetti's technology has immense potential. However, the stock trades at a $9.6 billion market cap, generates very little revenue, and is just starting to break even. Furthermore, large-scale commercial success may be years away, and quantum computing is an inherently expensive and difficult technology. None of the required steps forward will be easy.</p>
<div class="lb-trans"><p>Rigetti 的技术具有巨大的潜力。然而，该股票的市值为 96 亿美元，产生的收入非常少，并且刚刚开始实现盈亏平衡。此外，大规模商业成功可能还需要数年时间，而量子计算本质上是一项昂贵且困难的技术。向前迈出的每一步都不会轻松。</p>
</div><p>If Rigetti can achieve commercialization of quantum computers and they are as powerful as some experts think they can be, the stock could be a big winner. But any hiccups could lead to sharp sell-offs. For these reasons, I would avoid the stock or invest only a small, speculative amount.</p>
<div class="lb-trans"><p>如果 Rigetti 能够实现量子计算机的商业化，并且它们的能力如一些专家所认为的那样强大，那么该股票可能会成为一个大赢家。但任何小的波动都可能导致剧烈的抛售。因此，我建议避免该股票或仅投资少量的投机资金。</p>
</div>

亿万富翁们正在大量投资于一只量子计算股票，该股票在过去一年中涨幅超过 3700%