Locator: 48748TECH.
AI is an energy story.
Zuckerberg is the one to watch to get a glimpse of what's going on right now with regard to investing.
Apple is the other one to watch but it's going to be another six to twelve months for that story to play out.
Finally, the big question: where is this story -- the basic research and the applied research — now playing out? Is it still California's Silicon Valley or has it moved? If it has not moved, but could move, where might it move? Will it play out in one geographical location (Silicon Valley) or will the industry -- like the ice fjells of Greenland -- spawn new centers of AI research -- Utah, Austin, Nashville, North Carolina, and/or Virginia.
This is truly amazing.
I'm in my "semiconductors" phase and am reading chapter three of John Orton's book on the subject. Chapter three, "Minority Rule," is a 47-page chapter on the invention of the transistor at Bell Telephone laboratories in late 1947.
Early on, the concept of "band gap" comes into play. I was aware of the concept, but just barely. Instead of re-reading an entire chapter (or an entire monograph) on the "band gap," I went to ChatGPT and went down that rabbit hole -- it was more like an elevator stopping at five floors than a rabbit hole -- to bring myself up to speed on "band gap."
If you want to take the same elevator, start by asking ChatGPT "in transistors, what is meant by 'band gap'?"
I took ChatGPT's elevator to the fifth floor stopping at each floor on the way.
Simply amazing.
Hold that thought.
This past week, before Israel struck Iran, shares of stocks of companies involved in quantum computing took off.
This is why:
- Apple and other fabs have reached the physical theoretical limit with "2-nm" (2 nm, 2nm) chips;
- 2 nm follows Moore's Law
- to go beyond Moore's Law, one must go beyond Moore's Law, or "more than Moore."
To go beyond Moore's Law, one must "transition" to quantum computing. Wow, wow, wow.
Note: a 56-qubit quantum computer just did what no supercomputer can: generate a truly random number. Link to SciTechDaily.
Twenty years ago, maybe ten year ago, maybe even last year, it was my understanding, based on a lot of reading in non-technical media outlets, we might not see quantum computing in my lifetime, much less my investing lifetime.
Well, it turns out, that in the last few weeks, it's been reported everywhere that there have been break throughs in quantum computing which are absolutely necessary if we are to "move beyond Moore."
Wow.
And on top of that, it all goes back to "tunneling," a key concept in quantum theory.
If I had to name one natural phenomenon that I learned about in high school science that really amazed me -- across all science disciplines -- it was when Mr Ceglowski, my chemistry teacher -- 11th grade -- junior year high school -- introduced us to a the concept of "tunneling."
"Tunneling" was first mathematically studied in 1927 and confirmed in 1928.
Now, time to read what quantum computing companies are now discussing.
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Leading Quantum Computing Companies
First question to ask ChatGPT: what are the leading five companies in quantum computing?
I'll list the five but it does you, the reader, and ChatGPT a huge disservice. It's not enough to know the top five but also why these are the top five and the start-ups not among the top five.
The top five:
- IBM
- Google (Alphabet)
- IonQ
- Rigetti computing
- Quantiuum (Honeywell + Cambridge Quantum mergers
Honorable mentions:
- Microsoft
- D-Wave
- Alibaba
- PsiQuantum
The next question for ChatGPT: for the twenty-year-old investor, new to investing, recommendations:
10:00 a.m. Saturday morning, June 14, 2025, apartment complex, north Texas, the high for today will be 93°F.
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From CNBC / AI
- Rigetti Computing (RGTI): Rigetti experienced a substantial surge, with shares soaring by around 36% in a single day and achieving a record close in late 2024. They saw tremendous year-end gains, surging over 485% month-to-date and nearly 1,713% year-to-date. This put them on pace for their best year on record.
- D-Wave Quantum (QBTS): D-Wave also saw a significant rally, gaining alongside other quantum computing stocks. Their stock jumped 5% in premarket trading in late 2024, contributing to the sector's robust year-end rally. D-Wave has generated a return of nearly 1,200% over the last 12 months, according to a Yahoo Finance article citing D-Wave's impressive performance.
- Quantum Computing Inc. (QUBT): This company's stock also surged, adding almost 8% in premarket trading in late 2024. In June 2025, CNBC reported Quantum Computing's shares surging 24% after comments from Nvidia CEO Jensen Huang.
- IonQ Inc. (IONQ): While not experiencing the same level of percentage gains as Rigetti or D-Wave, IonQ has still seen significant appreciation in its stock price, with a reported 380% gain over the last 12 months.
- Google's Willow Chip: Google's announcement of its latest Willow chip, which demonstrated significant progress in error correction, fueled excitement and boosted shares of quantum computing companies into year-end 2024.
- AI Boom and Speculation: The AI boom in 2024 spilled over into the quantum computing sector, as investors hoped it would be the next big technology craze.
- Nvidia CEO's Comments: Nvidia CEO Jensen Huang's positive remarks on the quantum computing space reaching an inflection point also spurred gains in quantum stocks.
It's important to remember that while some quantum computing stocks have experienced huge gains, the sector is still considered speculative and volatile. Some experts and investors have warned that it may be too early for widespread real-world applications.
Despite the impressive gains seen in late 2024, the sector has also experienced periods of volatility and sell-offs in early 2025. Some tech CEOs have tempered expectations for the sector, which has contributed to these pullbacks. However, recent news regarding Microsoft's "quantum-ready" directive and positive comments from Nvidia's CEO have again sparked rallies in quantum computing stocks.
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The Book Page
Victor Davis Hanson never disappoints.
His review, "Unsung Hero": The Fate of the Generals: MacArthur, Wainwright, and the Epic Battle for the Philippines, by Jonathan Horn, Scribner, 448 pages, $30.99. At Amazon for $23.
Claremont Review of Books, Spring 2025, page 51.
