<p>量子计算行业在 <strong>摩根大通</strong>(JPM -0.24%) 的推动下获得了显著提升，这家美国最大的银行最近宣布将投资数十亿美元于 27 个对国家经济安全至关重要的子领域，包括量子计算。</p>
<p>投资者们正在推动几只量子计算股票的上涨，这些股票大多数几乎没有收入，原因在于量子技术可能会产生下一代计算机，甚至可能改变互联网。摩根大通的最新公告显然为该行业注入了一剂强心针。原因如下。</p>
<h2>投资者希望看到行业发展</h2>
<p>与基于比特（数字数据的最小单位）的传统计算机不同，量子计算机使用量子比特（qubits）。量子比特处于叠加态，使其能够同时处理更多数据并评估多种解决方案。这使得它们能够进行被认为远超市场上最先进超级计算机的计算。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mzc4MjYvcGVyc29uLWNvbXB1dGVyLTcuanBnJnc9NzAw?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mzc4MjYvcGVyc29uLWNvbXB1dGVyLTcuanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<p>但构建量子计算机是几家公司已经完成并正在完善的事情，而商业化量子计算机仍然是一个大问题。摩根大通最近宣布了一项 1.5 万亿美元的安全与韧性倡议，其中将包括在未来十年内进行的直接股权和风险投资。</p>
<p>“美国显然已经过于依赖不可靠的关键矿物、产品和制造来源——这些都是我们国家安全所必需的，” 摩根大通长期首席执行官兼董事长杰米·戴蒙在一份声明中表示。戴蒙一直强调公民责任的重要性，这可能解释了这一新倡议背后的一些动机。</p>
<p>在公告中，这家市值超过 4 万亿美元的银行还提到了 27 个目标投资的子领域，包括量子计算。这似乎极大地激励了投资者，并为该行业注入了一剂强心针，使得 <strong>D-Wave Quantum</strong> 和 <strong>Rigetti Computing</strong> 等股票在 10 月 13 日分别上涨了 23% 和 25%。</p>
<p>投资者应该明白，目前这些股票大多数甚至没有收入，仍在亏损。然而，D-Wave 和 Rigetti 的市值分别约为 150 亿美元和 180 亿美元，因此根据传统的收益和收入等指标来评估这些股票是没有意义的。押注在于这些公司能否制造出如研究人员所希望的那样具有革命性的量子计算机，并能够商业化这些产品。</p>
<p>Rigetti 和 D-Wave 都取得了显著进展，这可能解释了为什么它们的股票在过去一年中大幅上涨。但除此之外，投资者还在寻找行业支持，无论是政府倡议、合同还是来自摩根大通等知名公司的资金。仅仅这一公告就表明，这家大银行的分析师看到了量子计算的重大潜力和重要性。</p>
<p>几周前，B. Riley Securities 的分析师克雷格·埃利斯（Craig Ellis）在一份研究报告中写道，量子行业在技术和商业化方面的进展速度超出了预期。埃利斯还指出，美国能源部的国家实验室现在似乎更加关注量子技术的商业化，而不是以前更关注技术的研究部分。</p>
<h2>这仍然是高风险、高回报的投资</h2>
<p>看到像摩根大通和政府这样的主要参与者对这一领域越来越感兴趣并实际投资资金，对该行业来说是一剂强心针。但我仍然认为投资者应该意识到，这仍然是高风险、高回报的投资。如果技术的表现不如预期，或者出现了重大的商业化障碍，像 D-Wave 和 Rigetti 这样的纯粹股票可能会受到重创，而这些股票已经大幅上涨。</p>
<p>因此，我认为目前对纯粹量子股票的任何投资都应该是小规模和投机性的，并占据你投资组合中微不足道的部分。</p>

RGTI

摩根大通

<p>摩根大通宣布在量子计算领域进行重大投资，作为其 1.5 万亿美元安全与韧性计划的一部分，目标是 27 个国家经济安全的关键领域。这一公告推动了量子计算股票的上涨，例如 D-Wave Quantum 和 Rigetti Computing，分别上涨了 23% 和 25%。尽管市场充满期待，这些公司目前的收入仍然很少，使得对它们的投资风险较高。分析师指出，该行业在技术和商业化方面的进展正在加速，但投资者应保持谨慎，以应对潜在风险</p>

<p>The high-flying quantum computing sector got a significant lift from <strong>JPMorgan Chase</strong>(JPM -0.24%) when the largest bank in the U.S. recently announced it would invest billions into 27 sub-areas that are critical to national economic security including quantum.</p>
<div class="lb-trans"><p>量子计算行业在 <strong>摩根大通</strong>(JPM -0.24%) 的推动下获得了显著提升，这家美国最大的银行最近宣布将投资数十亿美元于 27 个对国家经济安全至关重要的子领域，包括量子计算。</p>
</div><p>Investors have been driving up several quantum computing stocks, most of which have little to no revenue, on the possibility that quantum technology will produce the next iteration of the computer and maybe even the internet. JPMorgan's recent announcement clearly served as a shot of adrenaline for the sector. Here's why.</p>
<div class="lb-trans"><p>投资者们正在推动几只量子计算股票的上涨，这些股票大多数几乎没有收入，原因在于量子技术可能会产生下一代计算机，甚至可能改变互联网。摩根大通的最新公告显然为该行业注入了一剂强心针。原因如下。</p>
</div><h2>Investors want to see the industry develop</h2>
<div class="lb-trans"><h2>投资者希望看到行业发展</h2>
</div><p>Unlike traditional computers, which are built on bits, the smallest units of digital data, quantum computers use qubits. Qubits exist in a state of superposition, enabling them to handle significantly more data and evaluate various solutions simultaneously. This allows them to compute calculations that are believed to be far beyond those of even the most sophisticated supercomputers available in the market today.</p>
<div class="lb-trans"><p>与基于比特（数字数据的最小单位）的传统计算机不同，量子计算机使用量子比特（qubits）。量子比特处于叠加态，使其能够同时处理更多数据并评估多种解决方案。这使得它们能够进行被认为远超市场上最先进超级计算机的计算。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mzc4MjYvcGVyc29uLWNvbXB1dGVyLTcuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F837826%2Fperson-computer-7.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>But there's building a quantum computer, which several companies have already done and are now working to perfect, and then there's commercializing quantum computers, which is still a big question in the thesis. JPMorgan recently announced a $1.5 trillion Security and Resiliency Initiative that will include direct equity and venture capital investments to be carried out over the next decade.</p>
<div class="lb-trans"><p>但构建量子计算机是几家公司已经完成并正在完善的事情，而商业化量子计算机仍然是一个大问题。摩根大通最近宣布了一项 1.5 万亿美元的安全与韧性倡议，其中将包括在未来十年内进行的直接股权和风险投资。</p>
</div><p>&#34;It has become painfully clear that the United States has allowed itself to become too reliant on unreliable sources of critical minerals, products and manufacturing -- all of which are essential for our national security,&#34; JPMorgan's longtime CEO and Chairman Jamie Dimon said in a statement. Dimon has always emphasized the importance of civic duty, which could explain some of the motive behind this new initiative.</p>
<div class="lb-trans"><p>“美国显然已经过于依赖不可靠的关键矿物、产品和制造来源——这些都是我们国家安全所必需的，” 摩根大通长期首席执行官兼董事长杰米·戴蒙在一份声明中表示。戴蒙一直强调公民责任的重要性，这可能解释了这一新倡议背后的一些动机。</p>
</div><p>Within the announcement, the $4 trillion-plus bank also cited 27 sub-areas targeted for investment including quantum computing. This seemed to excite investors greatly and send a shot of adrenaline through the sector, sending stocks like <strong>D-Wave Quantum</strong> and <strong>Rigetti Computing</strong> up 23% and 25%, respectively, on Oct. 13.</p>
<div class="lb-trans"><p>在公告中，这家市值超过 4 万亿美元的银行还提到了 27 个目标投资的子领域，包括量子计算。这似乎极大地激励了投资者，并为该行业注入了一剂强心针，使得 <strong>D-Wave Quantum</strong> 和 <strong>Rigetti Computing</strong> 等股票在 10 月 13 日分别上涨了 23% 和 25%。</p>
</div><p>Investors should understand that right now, most if not all of these stocks are making very little in revenue and still losing a lot of money. Yet, D-Wave and Rigetti now have market caps of roughly $15 billion and $18 billion, respectively, so trying to value these stocks based on traditional metrics like earnings and revenue doesn't make any sense. The bet is on these companies making quantum computers that are as revolutionary as researchers hope, and being able to commercialize the products.</p>
<div class="lb-trans"><p>投资者应该明白，目前这些股票大多数甚至没有收入，仍在亏损。然而，D-Wave 和 Rigetti 的市值分别约为 150 亿美元和 180 亿美元，因此根据传统的收益和收入等指标来评估这些股票是没有意义的。押注在于这些公司能否制造出如研究人员所希望的那样具有革命性的量子计算机，并能够商业化这些产品。</p>
</div><p>Both Rigetti and D-Wave have made notable progress, which likely explains why their stocks have appreciated astronomically over the past year. But beyond that, investors are looking for industry support, whether it's government initiatives or contracts or funding from well-known players like JPMorgan. The announcement alone shows that the analysts at the large bank see significant potential and importance in quantum.</p>
<div class="lb-trans"><p>Rigetti 和 D-Wave 都取得了显著进展，这可能解释了为什么它们的股票在过去一年中大幅上涨。但除此之外，投资者还在寻找行业支持，无论是政府倡议、合同还是来自摩根大通等知名公司的资金。仅仅这一公告就表明，这家大银行的分析师看到了量子计算的重大潜力和重要性。</p>
</div><p>A few weeks ago, B. Riley Securities analyst Craig Ellis, who covers quantum stocks, wrote in a research note that the quantum sector's progress with regard to the technology and commercialization is moving faster than expected. Ellis also pointed out the U.S. Department of Energy's National Laboratories now seems to be a lot more focused on the commercialization of quantum tech than they once were when they focused more on the research component of the technology.</p>
<div class="lb-trans"><p>几周前，B. Riley Securities 的分析师克雷格·埃利斯（Craig Ellis）在一份研究报告中写道，量子行业在技术和商业化方面的进展速度超出了预期。埃利斯还指出，美国能源部的国家实验室现在似乎更加关注量子技术的商业化，而不是以前更关注技术的研究部分。</p>
</div><h2>It's still a high-risk, high-reward play</h2>
<div class="lb-trans"><h2>这仍然是高风险、高回报的投资</h2>
</div><p>Seeing big players like JPMorgan Chase and the government get more interested in the space and actually invest money is a shot of adrenaline for the sector. But I still think investors should be cognizant of the fact that this is still a high-risk, high-reward play. If the tech turns out to be less impressive than expected, or there are significant barriers to commercialization that emerge, pure-play stocks like D-Wave and Rigetti could get hit hard, and these stocks are already up massively.</p>
<div class="lb-trans"><p>看到像摩根大通和政府这样的主要参与者对这一领域越来越感兴趣并实际投资资金，对该行业来说是一剂强心针。但我仍然认为投资者应该意识到，这仍然是高风险、高回报的投资。如果技术的表现不如预期，或者出现了重大的商业化障碍，像 D-Wave 和 Rigetti 这样的纯粹股票可能会受到重创，而这些股票已经大幅上涨。</p>
</div><p>For this reason, I think any investment in pure-play quantum stocks should be small and speculative at this time, and consume an immaterial part of your portfolio.</p>
<div class="lb-trans"><p>因此，我认为目前对纯粹量子股票的任何投资都应该是小规模和投机性的，并占据你投资组合中微不足道的部分。</p>
</div>

摩根大通刚刚为量子计算股票注入了一剂强心针