"Yesterday, America's four most prominent quantum computing companies saw their stock prices surge by double-digit percentages. But the genesis behind these soaring share prices wasn't directly related to news about the companies. Instead, the upward movement in the Quantum Four's share prices was largely due to financial giant JPMorganChase. On Monday, the investment bank announced a "Security and Resiliency Initiative" to invest in industries critical to America's national economic security interests. This initiative will see JPMorganChase invest $1.5 trillion in select industries over the next 10 years. And the first wave of this funding-to the tune of up to $10 billion-has already been decided upon."
"The banking giant announced it will invest the 11-figure sum via "direct equity and venture capital investments" in companies operating across four key areas, which include: Supply Chain and Advanced Manufacturing Defense and Aerospace Energy Independence and Resilience Frontier and Strategic Technologies For quantum computing investors, it's that last area-frontier and strategic technologies-that matters. Included in that grouping are companies in the AI, cybersecurity, and quantum computing space."
""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,""
Shares of America's leading quantum computing firms D-Wave, IonQ, Quantum Computing, and Rigetti rose by double-digit percentages following JPMorganChase's announcement rather than technical breakthroughs. JPMorganChase launched a Security and Resiliency Initiative to invest $1.5 trillion in industries tied to national economic security over the next decade. The first tranche could commit up to $10 billion via direct equity and venture capital into companies in supply chain and advanced manufacturing, defense and aerospace, energy independence and resilience, and frontier and strategic technologies. Frontier technologies include AI, cybersecurity, and quantum computing, directly benefiting quantum firms' valuations.
Read at Fast Company
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