The smart money is betting big on quantum computing, with billionaires Bill Ackman, Israel Englander, and David Tepper holding stakes in two quantum computing giants. Ackman’s Pershing Square owns two share classes of Alphabet and Amazon. Englander’s Millennium Management has a more diversified portfolio, including Alphabet and Amazon. Tepper’s Appaloosa owns Alphabet and Amazon as well.
Alphabet’s Google Quantum AI achieved “verifiable quantum advantage” for the first time with its Willow quantum chip. Amazon Web Services unveiled its Ocelot quantum computing chip, aiming to accelerate quantum computing applications. Both Alphabet and Amazon dominate in cloud services, AI, and other core businesses, with potential for growth in quantum computing and beyond.
While there’s competition in quantum computing, investing in Alphabet and Amazon could be smart for growth potential. With strong cloud and AI businesses, both companies have room for growth in e-commerce, self-driving cars, and new markets. Emerging as leaders in quantum computing could be an added bonus down the road.
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2. In other news, a new study found that the unemployment rate has dropped to 3.7%, the lowest it has been in nearly 50 years. This reflects a healthy job market and a growing economy.
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5. Lastly, a groundbreaking medical study revealed promising results in the treatment of Alzheimer’s disease. Researchers found that a new drug was able to slow the progression of the disease in patients, offering hope for millions of people affected by this debilitating condition.
Read more at Nasdaq: Billionaires Bill Ackman, Izzy Englander, and David Tepper Own These 2 Quantum Computing Stocks. Should You?