<p>量子計算行業在 <strong>摩根大通</strong>(JPM -0.24%) 的推動下獲得了顯著提升，這家美國最大的銀行最近宣佈將投資數十億美元於 27 個對國家經濟安全至關重要的子領域，包括量子計算。</p>
<p>投資者們正在推動幾隻量子計算股票的上漲，這些股票大多數幾乎沒有收入，原因在於量子技術可能會產生下一代計算機，甚至可能改變互聯網。摩根大通的最新公告顯然為該行業注入了一劑強心針。原因如下。</p>
<h2>投資者希望看到行業發展</h2>
<p>與基於比特（數字數據的最小單位）的傳統計算機不同，量子計算機使用量子比特（qubits）。量子比特處於疊加態，使其能夠同時處理更多數據並評估多種解決方案。這使得它們能夠進行被認為遠超市場上最先進超級計算機的計算。</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>圖片來源：Getty Images。</p>
<p>但構建量子計算機是幾家公司已經完成並正在完善的事情，而商業化量子計算機仍然是一個大問題。摩根大通最近宣佈了一項 1.5 萬億美元的安全與韌性倡議，其中將包括在未來十年內進行的直接股權和風險投資。</p>
<p>“美國顯然已經過於依賴不可靠的關鍵礦物、產品和製造來源——這些都是我們國家安全所必需的，” 摩根大通長期首席執行官兼董事長傑米·戴蒙在一份聲明中表示。戴蒙一直強調公民責任的重要性，這可能解釋了這一新倡議背後的一些動機。</p>
<p>在公告中，這家市值超過 4 萬億美元的銀行還提到了 27 個目標投資的子領域，包括量子計算。這似乎極大地激勵了投資者，併為該行業注入了一劑強心針，使得 <strong>D-Wave Quantum</strong> 和 <strong>Rigetti Computing</strong> 等股票在 10 月 13 日分別上漲了 23% 和 25%。</p>
<p>投資者應該明白，目前這些股票大多數甚至沒有收入，仍在虧損。然而，D-Wave 和 Rigetti 的市值分別約為 150 億美元和 180 億美元，因此根據傳統的收益和收入等指標來評估這些股票是沒有意義的。押注在於這些公司能否製造出如研究人員所希望的那樣具有革命性的量子計算機，並能夠商業化這些產品。</p>
<p>Rigetti 和 D-Wave 都取得了顯著進展，這可能解釋了為什麼它們的股票在過去一年中大幅上漲。但除此之外，投資者還在尋找行業支持，無論是政府倡議、合同還是來自摩根大通等知名公司的資金。僅僅這一公告就表明，這家大銀行的分析師看到了量子計算的重大潛力和重要性。</p>
<p>幾周前，B. Riley Securities 的分析師克雷格·埃利斯（Craig Ellis）在一份研究報告中寫道，量子行業在技術和商業化方面的進展速度超出了預期。埃利斯還指出，美國能源部的國家實驗室現在似乎更加關注量子技術的商業化，而不是以前更關注技術的研究部分。</p>
<h2>這仍然是高風險、高回報的投資</h2>
<p>看到像摩根大通和政府這樣的主要參與者對這一領域越來越感興趣並實際投資資金，對該行業來説是一劑強心針。但我仍然認為投資者應該意識到，這仍然是高風險、高回報的投資。如果技術的表現不如預期，或者出現了重大的商業化障礙，像 D-Wave 和 Rigetti 這樣的純粹股票可能會受到重創，而這些股票已經大幅上漲。</p>
<p>因此，我認為目前對純粹量子股票的任何投資都應該是小規模和投機性的，並佔據你投資組合中微不足道的部分。</p>

RGTI

摩根大通

<p>摩根大通宣佈在量子計算領域進行重大投資，作為其 1.5 萬億美元安全與韌性計劃的一部分，目標是 27 個國家經濟安全的關鍵領域。這一公告推動了量子計算股票的上漲，例如 D-Wave Quantum 和 Rigetti Computing，分別上漲了 23% 和 25%。儘管市場充滿期待，這些公司目前的收入仍然很少，使得對它們的投資風險較高。分析師指出，該行業在技術和商業化方面的進展正在加速，但投資者應保持謹慎，以應對潛在風險</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>量子計算行業在 <strong>摩根大通</strong>(JPM -0.24%) 的推動下獲得了顯著提升，這家美國最大的銀行最近宣佈將投資數十億美元於 27 個對國家經濟安全至關重要的子領域，包括量子計算。</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>投資者們正在推動幾隻量子計算股票的上漲，這些股票大多數幾乎沒有收入，原因在於量子技術可能會產生下一代計算機，甚至可能改變互聯網。摩根大通的最新公告顯然為該行業注入了一劑強心針。原因如下。</p>
</div><h2>Investors want to see the industry develop</h2>
<div class="lb-trans"><h2>投資者希望看到行業發展</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>與基於比特（數字數據的最小單位）的傳統計算機不同，量子計算機使用量子比特（qubits）。量子比特處於疊加態，使其能夠同時處理更多數據並評估多種解決方案。這使得它們能夠進行被認為遠超市場上最先進超級計算機的計算。</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>圖片來源：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>但構建量子計算機是幾家公司已經完成並正在完善的事情，而商業化量子計算機仍然是一個大問題。摩根大通最近宣佈了一項 1.5 萬億美元的安全與韌性倡議，其中將包括在未來十年內進行的直接股權和風險投資。</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>“美國顯然已經過於依賴不可靠的關鍵礦物、產品和製造來源——這些都是我們國家安全所必需的，” 摩根大通長期首席執行官兼董事長傑米·戴蒙在一份聲明中表示。戴蒙一直強調公民責任的重要性，這可能解釋了這一新倡議背後的一些動機。</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，這家市值超過 4 萬億美元的銀行還提到了 27 個目標投資的子領域，包括量子計算。這似乎極大地激勵了投資者，併為該行業注入了一劑強心針，使得 <strong>D-Wave Quantum</strong> 和 <strong>Rigetti Computing</strong> 等股票在 10 月 13 日分別上漲了 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>投資者應該明白，目前這些股票大多數甚至沒有收入，仍在虧損。然而，D-Wave 和 Rigetti 的市值分別約為 150 億美元和 180 億美元，因此根據傳統的收益和收入等指標來評估這些股票是沒有意義的。押注在於這些公司能否製造出如研究人員所希望的那樣具有革命性的量子計算機，並能夠商業化這些產品。</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 都取得了顯著進展，這可能解釋了為什麼它們的股票在過去一年中大幅上漲。但除此之外，投資者還在尋找行業支持，無論是政府倡議、合同還是來自摩根大通等知名公司的資金。僅僅這一公告就表明，這家大銀行的分析師看到了量子計算的重大潛力和重要性。</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>幾周前，B. Riley Securities 的分析師克雷格·埃利斯（Craig Ellis）在一份研究報告中寫道，量子行業在技術和商業化方面的進展速度超出了預期。埃利斯還指出，美國能源部的國家實驗室現在似乎更加關注量子技術的商業化，而不是以前更關注技術的研究部分。</p>
</div><h2>It's still a high-risk, high-reward play</h2>
<div class="lb-trans"><h2>這仍然是高風險、高回報的投資</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這樣的主要參與者對這一領域越來越感興趣並實際投資資金，對該行業來説是一劑強心針。但我仍然認為投資者應該意識到，這仍然是高風險、高回報的投資。如果技術的表現不如預期，或者出現了重大的商業化障礙，像 D-Wave 和 Rigetti 這樣的純粹股票可能會受到重創，而這些股票已經大幅上漲。</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，我認為目前對純粹量子股票的任何投資都應該是小規模和投機性的，並佔據你投資組合中微不足道的部分。</p>
</div>

摩根大通剛剛為量子計算股票注入了一劑強心針