{"id":482,"date":"2026-05-22T16:19:45","date_gmt":"2026-05-22T16:19:45","guid":{"rendered":"https:\/\/equitiesorbis.com\/%e9%87%8f%e5%ad%90%e8%ae%a1%e7%ae%97%e8%82%a1%e7%a5%a8%e7%8e%b0%e5%9c%a8%e5%80%bc%e5%be%97%e4%b9%b0%e5%85%a5%e5%90%97%ef%bc%9f\/"},"modified":"2026-06-08T18:51:04","modified_gmt":"2026-06-08T18:51:04","slug":"%e9%87%8f%e5%ad%90%e8%ae%a1%e7%ae%97%e8%82%a1%e7%a5%a8%e7%8e%b0%e5%9c%a8%e5%80%bc%e5%be%97%e4%b9%b0%e5%85%a5%e5%90%97%ef%bc%9f","status":"publish","type":"post","link":"https:\/\/equitiesorbis.com\/zh-hans\/%e9%87%8f%e5%ad%90%e8%ae%a1%e7%ae%97%e8%82%a1%e7%a5%a8%e7%8e%b0%e5%9c%a8%e5%80%bc%e5%be%97%e4%b9%b0%e5%85%a5%e5%90%97%ef%bc%9f\/","title":{"rendered":"\u91cf\u5b50\u8ba1\u7b97\u80a1\u7968\u73b0\u5728\u503c\u5f97\u4e70\u5165\u5417\uff1f"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">\u957f\u671f\u4ee5\u6765\uff0c\u91cf\u5b50\u8ba1\u7b97\u9886\u57df\u7684\u7279\u70b9\u662f\u5b8f\u4f1f\u7684\u627f\u8bfa\u548c\u6f2b\u957f\u7684\u5468\u671f\uff0c\u4f46\u6700\u8fd1\u7684\u53d1\u5c55\u8868\u660e\uff0c\u8be5\u884c\u4e1a\u6b63\u8de8\u8d8a\u4ece\u7406\u8bba\u7814\u7a76\u5230\u5546\u4e1a\u53ef\u884c\u6027\u7684\u5173\u952e\u95e8\u69db\u30022026 \u5e74 5 \u6708 21 \u65e5\uff0c\u8be5\u884c\u4e1a\u8fce\u6765\u4e86\u4e00\u4e2a\u5de8\u5927\u7684\u50ac\u5316\u5242\uff1a\u7f8e\u56fd <a href=\"https:\/\/www.nist.gov\/news-events\/news\/2026\/05\/department-commerce-announces-letters-intent-9-companies-2-billion\">\u5546\u52a1\u90e8<\/a> \u5ba3\u5e03\u6839\u636e\u300a\u82af\u7247\u6cd5\u6848\u300b\uff08CHIPS Act\uff09\u5411\u4e5d\u5bb6\u91cf\u5b50\u8ba1\u7b97\u516c\u53f8\u63d0\u4f9b 20.13 \u4ebf\u7f8e\u5143\u7684\u6fc0\u52b1\u8d44\u91d1\uff0c\u653f\u5e9c\u5728\u6bcf\u5bb6\u516c\u53f8\u4e2d\u5747\u6301\u6709\u5c11\u6570\u80a1\u6743\u3002\u8fd9\u79cd\u524d\u6240\u672a\u6709\u7684\u8054\u90a6\u652f\u6301\uff0c\u7ed3\u5408 <a href=\"https:\/\/blog.google\/technology\/research\/google-willow-quantum-chip\/\">\u8c37\u6b4c<\/a> \u548c IBM \u5728\u7ea0\u9519\u6280\u672f\u65b9\u9762\u53d6\u5f97\u7684\u91cd\u5927\u91cc\u7a0b\u7891\uff0c\u70b9\u71c3\u4e86\u6574\u4e2a\u91cf\u5b50\u9886\u57df\u7684\u5f3a\u52b2\u53cd\u5f39\u3002  <\/p>\n\n<p class=\"wp-block-paragraph\">\u6839\u636e\u9ea6\u80af\u9521\u7684\u6570\u636e\uff0c\u91cf\u5b50\u6280\u672f\u5e02\u573a\u9884\u8ba1\u5230 2035 \u5e74\u5c06\u8fbe\u5230 970 \u4ebf\u7f8e\u5143\uff0c\u5e76\u53ef\u80fd\u91ca\u653e 2 \u4e07\u4ebf\u81f3 3 \u4e07\u4ebf\u7f8e\u5143\u7684\u7ecf\u6d4e\u673a\u9047\u3002\u6295\u8d44\u8005\u6b63\u63d0\u51fa\u4e00\u4e2a\u76f4\u622a\u4e86\u5f53\u7684\u95ee\u9898\uff1a<strong>\u73b0\u5728\u662f\u4e70\u5165\u91cf\u5b50\u677f\u5757\u7ec4\u5408\u7684\u65f6\u5019\u4e86\u5417\uff1f<\/strong><\/p>\n\n<p class=\"wp-block-paragraph\">\u672c\u5206\u6790\u5c06\u62c6\u89e3\u8be5\u884c\u4e1a\u7684\u6295\u8d44\u903b\u8f91\uff0c\u8bc4\u4f30\u5173\u952e\u7684\u7eaf\u91cf\u5b50\u8ba1\u7b97\u80a1\u7968\u548c\u63a8\u52a8\u884c\u4e1a\u53d1\u5c55\u7684\u79d1\u6280\u5de8\u5934\uff0c\u5e76\u4e3a\u6700\u91cd\u8981\u7684\u6807\u7684\u63d0\u4f9b\u5177\u6709\u76ee\u6807\u4ef7\u7684\u53ef\u64cd\u4f5c\u7ed3\u8bba\u3002<\/p>\n\n<h1 class=\"wp-block-heading\">\u884c\u4e1a\u903b\u8f91\uff1a\u4e3a\u4f55\u662f\u73b0\u5728\uff1f<\/h1>\n\n<p class=\"wp-block-paragraph\">2026 \u5e74\u770b\u597d\u91cf\u5b50\u8ba1\u7b97\u7684\u7406\u7531\u57fa\u4e8e\u4e09\u4e2a\u6c47\u805a\u7684\u652f\u67f1\uff1a<strong>\u8054\u90a6\u6295\u8d44\u3001\u6280\u672f\u7a81\u7834\u4ee5\u53ca\u4eba\u5de5\u667a\u80fd\u7684\u878d\u5408\u3002<\/strong><\/p>\n\n<p class=\"wp-block-paragraph\"><strong>\u8054\u90a6\u6295\u8d44\u3002<\/strong> \u4eca\u5929\u5ba3\u5e03\u7684 20 \u4ebf\u7f8e\u5143\u653f\u5e9c\u6ce8\u8d44\u662f\u4e00\u4e2a\u5de8\u5927\u7684\u98ce\u9669\u5bf9\u51b2\u4e8b\u4ef6\u3002IBM \u5c06\u83b7\u5f97 10 \u4ebf\u7f8e\u5143\u7528\u4e8e\u5efa\u9020\u201cAnderon\u201d\u2014\u2014\u7f8e\u56fd\u9996\u4e2a\u4e13\u95e8\u4e3a\u8d85\u5bfc\u6676\u5706\u8bbe\u8ba1\u7684\u91cf\u5b50\u4ee3\u5de5\u5382\uff0cIBM \u81ea\u8eab\u4e5f\u5c06\u6295\u5165 10 \u4ebf\u7f8e\u5143\u3002GlobalFoundries \u83b7\u5f97 3.75 \u4ebf\u7f8e\u5143\u7528\u4e8e\u591a\u6a21\u6001\u91cf\u5b50\u4ee3\u5de5\u5382\u3002\u53e6\u5916\u4e03\u5bb6\u516c\u53f8\u2014\u2014\u5305\u62ec D-Wave\uff081 \u4ebf\u7f8e\u5143\uff09\u3001Rigetti\uff081 \u4ebf\u7f8e\u5143\uff09\u3001Atom Computing\uff081 \u4ebf\u7f8e\u5143\uff09\u3001Infleqtion\uff081 \u4ebf\u7f8e\u5143\uff09\u3001PsiQuantum\uff081 \u4ebf\u7f8e\u5143\uff09\u3001Quantinuum\uff081 \u4ebf\u7f8e\u5143\uff09\u548c Diraq\uff083,800 \u4e07\u7f8e\u5143\uff09\u2014\u2014\u83b7\u5f97\u4e86\u9488\u5bf9\u6027\u8d60\u6b3e\uff0c\u4ee5\u89e3\u51b3\u79bb\u6563\u7684\u5de5\u7a0b\u6311\u6218\u3002\u653f\u5e9c\u5728\u6bcf\u4e2a\u53d7\u52a9\u65b9\u4e2d\u6301\u6709\u5c11\u6570\u3001\u975e\u63a7\u80a1\u80a1\u6743\uff0c\u6807\u5fd7\u7740\u957f\u671f\u7684\u6218\u7565\u627f\u8bfa\u3002    <\/p>\n\n<p class=\"wp-block-paragraph\"><strong>\u6280\u672f\u7a81\u7834\u3002<\/strong> \u8be5\u884c\u4e1a\u5df2\u8de8\u8d8a\u4e86\u201c\u542b\u566a\u58f0\u7684\u4e2d\u7b49\u89c4\u6a21\u91cf\u5b50\u201d\uff08NISQ\uff09\u65f6\u4ee3\u3002\u8c37\u6b4c\u4e8e 2024 \u5e74 12 \u6708\u63a8\u51fa\u7684 Willow \u82af\u7247\u5c55\u793a\u4e86\u4f4e\u4e8e\u9608\u503c\u7684\u91cf\u5b50\u7ea0\u9519\u2014\u2014\u8fd9\u662f\u91cf\u5b50\u8ba1\u7b97\u7684\u201c\u5723\u676f\u201d\uff0c\u5373\u589e\u52a0\u66f4\u591a\u7684\u7269\u7406\u91cf\u5b50\u6bd4\u7279\u5b9e\u9645\u4e0a\u4f1a\u964d\u4f4e\u9519\u8bef\u7387\uff0c\u800c\u4e0d\u662f\u589e\u52a0\u9519\u8bef\u7387\u3002\u8be5\u82af\u7247\u89e3\u51b3\u4e86\u4e00\u4e2a\u7ecf\u5178\u8d85\u7ea7\u8ba1\u7b97\u673a\u9700\u8981 10 \u6c9f\uff08septillion\uff09\u5e74\u624d\u80fd\u5b8c\u6210\u7684\u8ba1\u7b97\u95ee\u9898\u3002\u5fae\u8f6f\u57fa\u4e8e\u62d3\u6251\u91cf\u5b50\u6bd4\u7279\u7684 Majorana 1 \u82af\u7247\u627f\u8bfa\u63d0\u4f9b\u66f4\u597d\u7684\u7a33\u5b9a\u6027\u548c\u66f4\u5c11\u7684\u9519\u8bef\uff0c\u8be5\u516c\u53f8\u58f0\u79f0\u5b9e\u7528\u7684\u91cf\u5b50\u8ba1\u7b97\u8ddd\u79bb\u6211\u4eec\u201c\u53ea\u6709\u51e0\u5e74\uff0c\u800c\u975e\u51e0\u5341\u5e74\u201d\u3002IBM \u7ee7\u7eed\u51ed\u501f\u7834\u7eaa\u5f55\u7684\u5904\u7406\u5668\u5411\u201c\u91cf\u5b50\u5b9e\u7528\u6027\u201d\u8fc8\u8fdb\u3002    <\/p>\n\n<p class=\"wp-block-paragraph\"><strong>\u4eba\u5de5\u667a\u80fd\u4e0e\u91cf\u5b50\u7684\u878d\u5408\u3002<\/strong> \u4eba\u5de5\u667a\u80fd\u7684\u7206\u53d1\u5f0f\u589e\u957f\u6b63\u5728\u521b\u9020\u5bf9\u8ba1\u7b97\u80fd\u529b\u7684\u9700\u6c42\uff0c\u800c\u7ecf\u5178\u67b6\u6784\u65e0\u6cd5\u9ad8\u6548\u63d0\u4f9b\u8fd9\u79cd\u80fd\u529b\u3002\u91cf\u5b50\u8ba1\u7b97\u4e3a\u4f18\u5316\u3001\u6a21\u62df\u548c\u673a\u5668\u5b66\u4e60\u4efb\u52a1\u63d0\u4f9b\u4e86\u6307\u6570\u7ea7\u7684\u52a0\u901f\uff0c\u8fd9\u4e9b\u4efb\u52a1\u4e0e AI \u5de5\u4f5c\u8d1f\u8f7d\u7684\u76f8\u5173\u6027\u65e5\u76ca\u589e\u5f3a\u3002\u8fd9\u79cd\u53d9\u4e8b\u4e0a\u7684\u878d\u5408\u6b63\u5438\u5f15\u673a\u6784\u8d44\u672c\u8fdb\u5165\u8be5\u9886\u57df\u3002  <\/p>\n\n<h1 class=\"wp-block-heading\">\u770b\u7a7a\u7406\u7531\uff1a\u53ef\u80fd\u51fa\u73b0\u4ec0\u4e48\u95ee\u9898<\/h1>\n\n<p class=\"wp-block-paragraph\">\u5c3d\u7ba1\u53d9\u4e8b\u5f15\u4eba\u5165\u80dc\uff0c\u4f46\u8be5\u884c\u4e1a\u4ecd\u5177\u6709 <strong>\u9ad8\u5ea6\u6295\u673a\u6027<\/strong>\u3002\u7eaf\u91cf\u5b50\u8ba1\u7b97\u80a1\u7968\u7684\u4f30\u503c\u76f8\u5bf9\u4e8e\u5176\u5f53\u524d\u6536\u5165\u800c\u8a00\u5904\u4e8e\u6781\u7aef\u6c34\u5e73\uff0c\u5e02\u9500\u7387\uff08P\/S\uff09\u901a\u5e38\u8d85\u8fc7 100 \u500d\u3002\u5b83\u4eec\u6d88\u8017\u73b0\u91d1\u8fc5\u901f\uff0c\u5e76\u9762\u4e34\u80a1\u6743\u878d\u8d44\u5e26\u6765\u7684\u6301\u7eed\u7a00\u91ca\u98ce\u9669\u3002\u6b64\u5916\uff0c\u8fd9\u4e9b\u80a1\u7968\u4f5c\u4e3a\u4e00\u4e2a\u9ad8\u5ea6\u76f8\u5173\u7684\u677f\u5757\u8fdb\u884c\u4ea4\u6613\uff1b\u5f53\u60c5\u7eea\u8f6c\u53d8\u65f6\uff0c\u5b83\u4eec\u4f1a\u5267\u70c8\u6ce2\u52a8\u2014\u2014\u6b63\u5982 5 \u6708 18 \u65e5 8-10% \u7684\u629b\u552e\u4ee5\u53ca\u968f\u540e 5 \u6708 21 \u65e5 10-25% \u7684\u53cd\u5f39\u6240\u8bc1\u660e\u7684\u90a3\u6837\u3002   <\/p>\n\n<p class=\"wp-block-paragraph\">\u5bf9\u4e8e\u5927\u591a\u6570\u7528\u4f8b\u800c\u8a00\uff0c\u5546\u4e1a\u5e94\u7528\u7684\u5b9e\u9645\u91cf\u5b50\u4f18\u52bf\u4ecd\u9700\u6570\u5e74\u65f6\u95f4\u3002\u6700\u8fd1\u300a<a href=\"https:\/\/www.scientificamerican.com\/article\/which-problems-will-quantum-computers-solve-and-when\/\">\u79d1\u5b66\u7f8e\u56fd\u4eba<\/a>\u300b\u7684\u4e00\u9879\u5206\u6790\u6307\u51fa\uff0c\u5b9e\u73b0\u91cf\u5b50\u8ba1\u7b97\u5728\u5bc6\u7801\u5b66\u3001\u6750\u6599\u8bbe\u8ba1\u548c\u7535\u4fe1\u9886\u57df\u7684\u627f\u8bfa\u201c\u53ef\u80fd\u8fd8\u9700\u8981\u5f88\u591a\u5e74\u201d\u3002\u8d44\u6e90\u5145\u8db3\u7684\u7ade\u4e89\u5bf9\u624b\u2014\u2014\u5305\u62ec\u8c37\u6b4c\u3001IBM\u3001\u5fae\u8f6f\u4ee5\u53ca\u65e5\u76ca\u5d1b\u8d77\u7684\u4e2d\u56fd\u516c\u53f8\u2014\u2014\u7ee7\u7eed\u5927\u4e3e\u6295\u8d44\uff0c\u5a01\u80c1\u7740\u8f83\u5c0f\u7eaf\u91cf\u5b50\u516c\u53f8\u7684\u7ade\u4e89\u62a4\u57ce\u6cb3\u3002  <\/p>\n\n<h1 class=\"wp-block-heading\">\u4f30\u503c\u5feb\u7167\uff1a\u91cf\u5b50\u677f\u5757<\/h1>\n\n<p class=\"wp-block-paragraph\">\u4e0b\u8868\u603b\u7ed3\u4e86\u622a\u81f3 2026 \u5e74 5 \u6708 21 \u65e5\u4e3b\u8981\u91cf\u5b50\u8ba1\u7b97\u80a1\u7968\u7684\u5173\u952e\u8d22\u52a1\u6307\u6807\uff1a<\/p>\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>\u80a1\u7968\u4ee3\u7801<\/strong><\/td><td><strong>\u4ef7\u683c<\/strong><\/td><td><strong>\u5e02\u503c<\/strong><\/td><td><strong>2026 \u5e74\u7b2c\u4e00\u5b63\u5ea6\u8425\u6536<\/strong><\/td><td><strong>26 \u8d22\u5e74\u8425\u6536\u6307\u5f15<\/strong><\/td><td><strong>\u5e02\u9500\u7387\uff08\u9884\u4f30\uff09<\/strong><\/td><td><strong>\u73b0\u91d1\u72b6\u51b5<\/strong><\/td><\/tr><tr><td><strong>IONQ<\/strong><\/td><td>$58.94<\/td><td>$220 \u4ebf<\/td><td>$6,470 \u4e07<\/td><td>$2.6 \u4ebf &#8211; $2.7 \u4ebf<\/td><td>~83x<\/td><td>\u4e0d\u9002\u7528<\/td><\/tr><tr><td><strong>QBTS<\/strong><\/td><td>$24.34<\/td><td>$90 \u4ebf<\/td><td>$290 \u4e07<\/td><td>~$3,000 \u4e07<\/td><td>~300x<\/td><td>$5.88 \u4ebf<\/td><\/tr><tr><td><strong>RGTI<\/strong><\/td><td>$21.18<\/td><td>$70 \u4ebf<\/td><td>$440 \u4e07<\/td><td>~$2,000 \u4e07<\/td><td>~350x<\/td><td>$4.18 \u4ebf<\/td><\/tr><tr><td><strong>QUBT<\/strong><\/td><td>$9.56<\/td><td>~$25 \u4ebf<\/td><td>$370 \u4e07<\/td><td>~$1,500 \u4e07<\/td><td>~167x<\/td><td>$14 \u4ebf<\/td><\/tr><tr><td><strong>IBM<\/strong><\/td><td>$240.87<\/td><td>$2,110 \u4ebf<\/td><td>\u4e0d\u9002\u7528\uff08\u591a\u5143\u5316\uff09<\/td><td>~$650 \u4ebf<\/td><td>~3.2x<\/td><td>\u4e0d\u9002\u7528<\/td><\/tr><\/tbody><\/table><\/figure>\n\n<h1 class=\"wp-block-heading\">\u7eaf\u91cf\u5b50\u8ba1\u7b97\u80a1\u7968\uff1a\u4e2a\u4f53\u8bc4\u4f30<\/h1>\n\n<h2 class=\"wp-block-heading\">IonQ, Inc. (NYSE: IONQ)<\/h2>\n\n<p class=\"wp-block-paragraph\">IonQ \u5df2\u786e\u7acb\u4e86\u5176\u5728\u7eaf\u91cf\u5b50\u8ba1\u7b97\u516c\u53f8\u4e2d\u65e0\u53ef\u4e89\u8bae\u7684\u5546\u4e1a\u9886\u5bfc\u5730\u4f4d\u3002\u8be5\u516c\u53f8\u5229\u7528\u79bb\u5b50\u9631\u6280\u672f\u2014\u2014\u4e0e\u8d85\u5bfc\u65b9\u6848\u76f8\u6bd4\uff0c\u8be5\u6280\u672f\u63d0\u4f9b\u66f4\u957f\u7684\u76f8\u5e72\u65f6\u95f4\u548c\u66f4\u9ad8\u7684\u95e8\u4fdd\u771f\u5ea6\u3002\u516c\u53f8\u62a5\u544a 2026 \u5e74\u7b2c\u4e00\u5b63\u5ea6\u8425\u6536\u4e3a 6,467 \u4e07\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f 755%\uff0c\u8fdc\u8d85\u5e02\u573a\u9884\u671f\u3002\u7ba1\u7406\u5c42\u968f\u540e\u5c06 2026 \u5168\u5e74\u8425\u6536\u6307\u5f15\u4ece\u4e4b\u524d\u7684 2.25 \u4ebf\u81f3 2.45 \u4ebf\u7f8e\u5143\u4e0a\u8c03\u81f3 2.6 \u4ebf\u81f3 2.7 \u4ebf\u7f8e\u5143\u3002  <\/p>\n\n<p class=\"wp-block-paragraph\">\u8425\u6536\u6784\u6210\u5c24\u5176\u4ee4\u4eba\u9f13\u821e\uff1a60% \u6765\u81ea\u5546\u4e1a\u5ba2\u6237\u800c\u975e\u653f\u5e9c\u8d60\u6b3e\uff0c35% \u6765\u81ea\u56fd\u9645\u5e02\u573a\uff0c35% \u6d89\u53ca\u591a\u4ea7\u54c1\u5408\u4f5c\u3002\u8fd9\u79cd\u591a\u6837\u5316\u964d\u4f4e\u4e86\u96c6\u4e2d\u5ea6\u98ce\u9669\uff0c\u5e76\u8bc1\u660e\u4e86\u771f\u6b63\u7684\u5e02\u573a\u9700\u6c42\u3002\u5206\u6790\u5e08\u9884\u8ba1 2025 \u5e74\u81f3 2028 \u5e74\u7684\u8425\u6536\u5e74\u590d\u5408\u589e\u957f\u7387\uff08CAGR\uff09\u4e3a 67%\uff0c\u8fbe\u5230\u7ea6 6 \u4ebf\u7f8e\u5143\u3002  <\/p>\n\n<p class=\"wp-block-paragraph\">\u5c3d\u7ba1\u589e\u957f\u8f68\u8ff9\u4ee4\u4eba\u5370\u8c61\u6df1\u523b\uff0c\u4f46 IonQ \u7684\u4f30\u503c\u6ea2\u4ef7\u8f83\u9ad8\uff0c\u5e02\u503c\u7ea6\u4e3a 220 \u4ebf\u7f8e\u5143\u3002\u516c\u53f8\u6b63\u5728\u5927\u4e3e\u518d\u6295\u8d44\uff0c\u7ef4\u6301\u5168\u5e74\u8c03\u6574\u540e EBITDA \u4e8f\u635f\u6307\u5f15\u5728 3.1 \u4ebf\u81f3 3.3 \u4ebf\u7f8e\u5143\u3002\u5f85\u5b8c\u6210\u7684 <a href=\"https:\/\/www.ionq.com\/\">SkyWater Technology<\/a> \u6536\u8d2d\u9884\u8ba1\u5c06\u4e8e 2026 \u5e74\u7b2c\u4e8c\u81f3\u7b2c\u4e09\u5b63\u5ea6\u5b8c\u6210\uff0c\u8fd9\u5c06\u589e\u5f3a\u5176\u56fd\u5185\u5236\u9020\u80fd\u529b\u548c\u5782\u76f4\u6574\u5408\u3002  <\/p>\n\n<p class=\"wp-block-paragraph\">\u5206\u6790\u5e08\u5171\u8bc6\u4e3a\u201c\u9002\u5ea6\u4e70\u5165\u201d\uff0c\u5e73\u5747\u76ee\u6807\u4ef7\u4e3a $66\u2013$68\uff0c\u4e0d\u8fc7\u8303\u56f4\u4ece\u6469\u6839\u58eb\u4e39\u5229\u8c28\u614e\u7684 $37 \u5230\u770b\u6da8\u7684 $100 \u4e0d\u7b49\u3002\u8be5\u80a1\u4eca\u5e74\u4ee5\u6765\u4e0a\u6da8\u4e86 17%\uff0c\u8fc7\u53bb 12 \u4e2a\u6708\u4e0a\u6da8\u4e86 49%\uff0c\u662f\u7eaf\u91cf\u5b50\u677f\u5757\u4e2d\u8868\u73b0\u6700\u5f3a\u52b2\u7684\u80a1\u7968\u3002 <\/p>\n\n<p class=\"wp-block-paragraph\"><strong>\u7ed3\u8bba\uff1a\u4e70\u5165<\/strong> | <strong>\u76ee\u6807\u4ef7\uff1a$75.00<\/strong> | \u6f5c\u5728\u6da8\u5e45\uff1a~27%<\/p>\n\n<p class=\"wp-block-paragraph\"><em>\u6295\u8d44\u903b\u8f91\uff1a<\/em>IonQ \u662f\u7eaf\u91cf\u5b50\u9886\u57df\u57fa\u672c\u9762\u8868\u73b0\u6700\u5f3a\u52b2\u7684\u516c\u53f8\u3002\u5176\u901a\u8fc7\u591a\u6837\u5316\u5ba2\u6237\u7fa4\u4ea7\u751f\u6709\u610f\u4e49\u4e14\u52a0\u901f\u589e\u957f\u8425\u6536\u7684\u80fd\u529b\uff0c\u8bc1\u660e\u4e86\u5176\u6ea2\u4ef7\u4f30\u503c\u7684\u5408\u7406\u6027\u3002\u867d\u7136\u6ce2\u52a8\u662f\u8be5\u884c\u4e1a\u7684\u56fa\u6709\u5c5e\u6027\uff0c\u4f46 IonQ \u4ecd\u662f\u91cf\u5b50\u6807\u7684\u4e2d\u6700\u7a33\u5065\u7684\u9ad8\u4fe1\u5fc3\u9009\u62e9\u3002\u4e0a\u8c03\u7684\u6307\u5f15\u548c\u5f85\u5b8c\u6210\u7684 SkyWater \u6536\u8d2d\u63d0\u4f9b\u4e86\u8fd1\u671f\u50ac\u5316\u5242\u3002   <\/p>\n\n<h2 class=\"wp-block-heading\">D-Wave Quantum Inc. (NYSE: QBTS)<\/h2>\n\n<p class=\"wp-block-paragraph\">D-Wave \u5728\u91cf\u5b50\u9886\u57df\u5360\u636e\u72ec\u7279\u5730\u4f4d\uff0c\u65e2\u63d0\u4f9b\u5df2\u7ecf\u5546\u4e1a\u5316\u90e8\u7f72\u7684\u91cf\u5b50\u9000\u706b\u7cfb\u7edf\uff0c\u53c8\u901a\u8fc7\u6536\u8d2d Quantum Circuits \u6269\u5c55\u5230\u95e8\u6a21\u578b\u67b6\u6784\u3002\u8be5\u516c\u53f8\u6700\u8fd1\u83b7\u5f97\u4e86 1 \u4ebf\u7f8e\u5143\u7684\u300a\u82af\u7247\u6cd5\u6848\u300b\u8d60\u6b3e\uff0c\u7528\u4e8e\u63a8\u8fdb\u5176\u8d85\u5bfc\u6280\u672f\uff0c\u4e13\u95e8\u9488\u5bf9\u91cf\u5b50\u6bd4\u7279\u6570\u3001\u9519\u8bef\u7387\u548c\u76f8\u5e72\u6027\u7684\u6539\u8fdb\u3002 <\/p>\n\n<p class=\"wp-block-paragraph\">2026 \u5e74\u7b2c\u4e00\u5b63\u5ea6\u7684\u76c8\u5229\u60c5\u51b5\u559c\u5fe7\u53c2\u534a\u3002\u7531\u4e8e\u6536\u5165\u786e\u8ba4\u65f6\u95f4\u95ee\u9898\uff0c\u8425\u6536\u540c\u6bd4\u9aa4\u964d 81% \u81f3 290 \u4e07\u7f8e\u5143\uff0c\u4f4e\u4e8e\u9884\u671f 100 \u591a\u4e07\u7f8e\u5143\u3002\u7136\u800c\uff0c\u9884\u8ba2\u91cf\u98d9\u5347\u81f3 3,340 \u4e07\u7f8e\u5143\uff0c\u5269\u4f59\u5c65\u7ea6\u4e49\u52a1\uff08RPO\uff09\u8fbe\u5230 4,240 \u4e07\u7f8e\u5143\uff0c\u4e14\u516c\u53f8\u7ef4\u6301\u7740 5.88 \u4ebf\u7f8e\u5143\u7684\u7a33\u5065\u73b0\u91d1\u5934\u5bf8\u3002\u6bcf\u80a1\u6536\u76ca\uff08EPS\uff09\u4e8f\u635f 0.05 \u7f8e\u5143\uff0c\u5b9e\u9645\u4e0a\u6bd4\u9884\u671f\u597d 37.5%\u3002   <\/p>\n\n<p class=\"wp-block-paragraph\">D-Wave \u7684\u5e02\u503c\u7ea6\u4e3a 90 \u4ebf\u7f8e\u5143\uff0c\u76f8\u5bf9\u4e8e\u5176\u8fc7\u5f80\u8425\u6536\uff0c\u5e02\u9500\u7387\u7ea6\u4e3a 295 \u500d\uff0c\u6309\u4efb\u4f55\u4f20\u7edf\u6307\u6807\u8861\u91cf\uff0c\u5176\u4f30\u503c\u90fd\u5df2\u8fc7\u5ea6\u6269\u5f20\u3002\u5728\u300a\u82af\u7247\u6cd5\u6848\u300b\u5ba3\u5e03\u540e\uff0c\u8be5\u80a1\u5355\u65e5\u66b4\u6da8 25%\uff0c\u53cd\u6620\u4e86\u5176\u9ad8\u8d1d\u5854\uff08high-beta\uff09\u5c5e\u6027\u548c\u6563\u6237\u7684\u9ad8\u5ea6\u5173\u6ce8\u3002\u5206\u6790\u5e08\u5171\u8bc6\u4e3a\u201c\u9002\u5ea6\u4e70\u5165\u201d\uff0c\u5305\u62ec 14 \u4e2a\u4e70\u5165\u8bc4\u7ea7\u30012 \u4e2a\u6301\u6709\u8bc4\u7ea7\u548c 1 \u4e2a\u5356\u51fa\u8bc4\u7ea7\uff0c\u5e73\u5747\u76ee\u6807\u4ef7\u4e3a $35.53\u3002  <\/p>\n\n<p class=\"wp-block-paragraph\">\u5373\u5c06\u4e8e 6 \u6708 1 \u65e5\u5728\u7ebd\u4ea4\u6240\u4e3e\u884c\u7684\u6295\u8d44\u8005\u65e5\u662f\u4e0b\u4e00\u4e2a\u5177\u4f53\u7684\u50ac\u5316\u5242\u3002<\/p>\n\n<p class=\"wp-block-paragraph\"><strong>\u7ed3\u8bba\uff1a\u6301\u6709<\/strong> | <strong>\u76ee\u6807\u4ef7\uff1a$32.00<\/strong> | \u6f5c\u5728\u6da8\u5e45\uff1a~31%<\/p>\n\n<p class=\"wp-block-paragraph\"><em>\u6295\u8d44\u903b\u8f91\uff1a<\/em>D-Wave \u51ed\u501f\u653f\u5e9c\u652f\u6301\u548c\u5f3a\u52b2\u7684\u9884\u8ba2\u91cf\u786e\u4fdd\u4e86\u8fd1\u671f\u524d\u666f\uff0c\u4f46\u5de8\u5927\u7684\u8425\u6536\u7f3a\u53e3\u51f8\u663e\u4e86\u5176\u5f53\u524d\u4e1a\u52a1\u6a21\u5f0f\u4e0d\u5e73\u7a33\u3001\u4e0d\u53ef\u9884\u6d4b\u7684\u6027\u8d28\u3002\u8be5\u80a1\u53d7\u60c5\u7eea\u63a8\u52a8\u5927\u5e45\u53cd\u5f39\uff0c\u76ee\u524d\u4ea4\u6613\u4ef7\u683c\u5df2\u63a5\u8fd1\u5206\u6790\u5e08\u5171\u8bc6\u76ee\u6807\u3002\u6211\u4eec\u5efa\u8bae\u5728\u56de\u8c03\u81f3 $20 \u4ee5\u4e0b\u518d\u5efa\u4ed3\uff0c\u6216\u8005\u7b49\u5f85\u6295\u8d44\u8005\u65e5\u660e\u786e\u6536\u5165\u786e\u8ba4\u7684\u8f68\u8ff9\u3002  <\/p>\n\n<h2 class=\"wp-block-heading\">Rigetti Computing, Inc. (NASDAQ: RGTI)<\/h2>\n\n<p class=\"wp-block-paragraph\">Rigetti \u4e13\u6ce8\u4e8e\u8d85\u5bfc\u91cf\u5b50\u5904\u7406\u5668\uff0c\u6700\u8fd1\u63a8\u51fa\u4e86\u5176 108 \u91cf\u5b50\u6bd4\u7279\u7cfb\u7edf\u3002\u516c\u53f8\u62a5\u544a 2026 \u5e74\u7b2c\u4e00\u5b63\u5ea6\u8425\u6536\u4e3a 440 \u4e07\u7f8e\u5143\uff0c\u540c\u6bd4\u51e0\u4e4e\u7ffb\u4e86\u4e09\u500d\uff0c\u5e76\u83b7\u5f97\u4e86 1 \u4ebf\u7f8e\u5143\u7684\u300a\u82af\u7247\u6cd5\u6848\u300b\u8d60\u6b3e\uff0c\u4e13\u95e8\u7528\u4e8e\u65b0\u578b\u8bfb\u51fa\u7535\u5b50\u8bbe\u5907\u7684\u5fae\u578b\u5316\u4e0e\u96c6\u6210\u4ee5\u53ca\u4e0b\u4e00\u4ee3\u4f4e\u6e29\u6052\u6e29\u5668\u67b6\u6784\u3002 <\/p>\n\n<p class=\"wp-block-paragraph\">\u7136\u800c\uff0c\u80cc\u666f\u5f88\u91cd\u8981\u3002Rigetti 2025 \u5168\u5e74\u7684\u8425\u6536\u5b9e\u9645\u4e0a\u540c\u6bd4\u4e0b\u964d\u4e86 34%\uff0c\u4ec5\u4e3a 709 \u4e07\u7f8e\u5143\u3002\u516c\u53f8\u5728\u5982\u6b64\u5fae\u5c0f\u7684\u8425\u6536\u57fa\u7840\u4e0a\u62e5\u6709\u7ea6 70 \u4ebf\u7f8e\u5143\u7684\u5e02\u503c\uff0c\u610f\u5473\u7740\u5e02\u9500\u7387\u8d85\u8fc7 350 \u500d\u3002\u867d\u7136 4.18 \u4ebf\u7f8e\u5143\u7684\u73b0\u91d1\u5934\u5bf8\u76f8\u5bf9\u4e8e\u6781\u4f4e\u7684\u503a\u52a1\uff08678 \u4e07\u7f8e\u5143\uff09\u63d0\u4f9b\u4e86\u6570\u5e74\u7684\u8fd0\u8425\u8d44\u91d1\uff0c\u4f46\u901a\u5f80\u5546\u4e1a\u89c4\u6a21\u7684\u8def\u5f84\u4ecd\u4e0d\u786e\u5b9a\u3002   <\/p>\n\n<p class=\"wp-block-paragraph\">\u5728\u4eca\u65e5\u5f00\u76d8\u524d\uff0c\u8be5\u80a1\u4eca\u5e74\u4ee5\u6765\u4e0b\u8dcc\u4e86 23.8%\uff0c\u4f46\u5728\u300a\u82af\u7247\u6cd5\u6848\u300b\u6d88\u606f\u548c 570 \u4e07\u7f8e\u5143\u65b0\u8ba2\u5355\u7684\u523a\u6fc0\u4e0b\u98d9\u5347\u4e86 24%\u3002\u5206\u6790\u5e08\u5171\u8bc6\u4e3a\u201c\u4e70\u5165\u201d\uff0c\u5e73\u5747\u76ee\u6807\u4ef7\u5728 $23.64\u2013$30.64 \u4e4b\u95f4\uff0cWedbush \u7684 Antoine Legault \u7ef4\u6301 $40 \u7684\u770b\u6da8\u76ee\u6807\u3002 <\/p>\n\n<p class=\"wp-block-paragraph\"><strong>\u7ed3\u8bba\uff1a\u5356\u51fa<\/strong> | <strong>\u76ee\u6807\u4ef7\uff1a$14.00<\/strong> | \u6f5c\u5728\u8dcc\u5e45\uff1a~34%<\/p>\n\n<p class=\"wp-block-paragraph\"><em>\u6295\u8d44\u903b\u8f91\uff1a<\/em>Rigetti \u7684\u6280\u672f\u5f88\u6709\u524d\u666f\uff0c\u4f46\u5176\u5546\u4e1a\u7275\u5f15\u529b\u660e\u663e\u6ede\u540e\u4e8e IonQ\uff0c\u4e14\u5728\u8d85\u5bfc\u9886\u57df\u76f4\u63a5\u4e0e IBM \u548c\u8c37\u6b4c\u7ade\u4e89\u2014\u2014\u8fd9\u662f\u4e00\u573a\u5b83\u5728\u8d44\u6e90\u4e0a\u65e0\u6cd5\u53d6\u80dc\u7684\u6218\u6597\u3002\u76ee\u524d\u7684\u4f30\u503c\u9884\u8bbe\u4e86\u672a\u6765\u6570\u5e74\u5b8c\u7f8e\u7684\u6267\u884c\u529b\uff0c\u800c\u8425\u6536\u8f68\u8ff9\u5c1a\u4e0d\u652f\u6301\u8fd9\u4e00\u70b9\u3002\u300a\u82af\u7247\u6cd5\u6848\u300b\u7684\u8d60\u6b3e\u63d0\u4f9b\u4e86\u751f\u547d\u7ebf\uff0c\u4f46\u5e76\u672a\u89e3\u51b3\u6839\u672c\u7684\u7ade\u4e89\u52a3\u52bf\u3002\u6211\u4eec\u5efa\u8bae\u5728\u4eca\u65e5\u60c5\u7eea\u9a71\u52a8\u7684\u53cd\u5f39\u540e\u83b7\u5229\u4e86\u7ed3\u3002   <\/p>\n\n<h2 class=\"wp-block-heading\">Quantum Computing Inc. (NASDAQ: QUBT)<\/h2>\n\n<p class=\"wp-block-paragraph\">Quantum Computing Inc. \u901a\u8fc7\u91cf\u5b50\u5149\u5b66\u548c\u8584\u819c\u94cc\u9178\u9502\uff08TFLN\uff09\u5149\u5b50\u82af\u7247\u5b9e\u73b0\u5dee\u5f02\u5316\uff0c\u8fd9\u5177\u6709\u4e00\u4e2a\u5173\u952e\u4f18\u52bf\uff1a\u5b83\u4eec\u53ef\u4ee5\u5728\u5ba4\u6e29\u4e0b\u8fd0\u884c\u4e14\u529f\u8017\u4f4e\uff0c\u6d88\u9664\u4e86\u8d85\u5bfc\u65b9\u6848\u6240\u9700\u7684\u590d\u6742\u4e14\u6602\u8d35\u7684\u4f4e\u6e29\u51b7\u5374\u7cfb\u7edf\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u516c\u53f8\u62a5\u544a 2026 \u5e74\u7b2c\u4e00\u5b63\u5ea6\u8425\u6536\u4e3a 369 \u4e07\u7f8e\u5143\uff0c\u9ad8\u4e8e\u524d\u4e00\u5e74\u7684\u4ec5 3.9 \u4e07\u7f8e\u5143\uff0c\u589e\u5e45\u8fbe 5,951%\u3002\u7136\u800c\uff0c\u8fd9\u4e00\u589e\u957f\u51e0\u4e4e\u5b8c\u5168\u662f\u7531\u6536\u8d2d Luminar Semiconductor\uff081.1 \u4ebf\u7f8e\u5143\uff0c\u5168\u73b0\u91d1\uff09\u548c NuCrypt\uff08500 \u4e07\u7f8e\u5143\uff09\u9a71\u52a8\u7684\u3002\u8fd0\u8425\u652f\u51fa\u98d9\u5347 139% \u81f3 1,980 \u4e07\u7f8e\u5143\uff0c\u51c0\u4e8f\u635f\u4e3a 410 \u4e07\u7f8e\u5143\u3002\u516c\u53f8\u6301\u6709\u4ee4\u4eba\u5370\u8c61\u6df1\u523b\u7684 14 \u4ebf\u7f8e\u5143\u73b0\u91d1\u548c\u6295\u8d44\uff0c\u5408\u540c\u79ef\u538b\u8ba2\u5355\u7ea6\u4e3a 1,600 \u4e07\u7f8e\u5143\u3002   <\/p>\n\n<p class=\"wp-block-paragraph\">\u5206\u6790\u5e08\u8986\u76d6\u6709\u9650\uff0c\u4f46\u5177\u6709\u5efa\u8bbe\u6027\u3002Northland Securities \u7ef4\u6301\u201c\u8dd1\u8d62\u5927\u76d8\u201d\u8bc4\u7ea7\uff0c\u76ee\u6807\u4ef7\u4e3a $20\uff0c\u800c\u5171\u8bc6\u5747\u4ef7\u4e3a $17.83\uff08\u8303\u56f4\uff1a$10\u2013$27\uff09\u3002\u4e00\u540d\u5206\u6790\u5e08\u5c06\u8be5\u80a1\u76ee\u6807\u4ef7\u4e0a\u8c03\u81f3 $40\uff0c\u5f15\u53d1\u4e86 23% \u7684\u98d9\u5347\u3002  <\/p>\n\n<p class=\"wp-block-paragraph\"><strong>\u7ed3\u8bba\uff1a\u6295\u673a\u6027\u4e70\u5165<\/strong> | <strong>\u76ee\u6807\u4ef7\uff1a$18.00<\/strong> | \u6f5c\u5728\u6da8\u5e45\uff1a~88%<\/p>\n\n<p class=\"wp-block-paragraph\"><em>\u6295\u8d44\u903b\u8f91\uff1a<\/em>QUBT \u7684\u5ba4\u6e29\u5149\u5b50\u5b66\u65b9\u6848\u76f8\u5bf9\u4e8e\u7ade\u4e89\u5bf9\u624b\u7684\u4f4e\u6e29\u8981\u6c42\u63d0\u4f9b\u4e86\u771f\u6b63\u7684\u6280\u672f\u62a4\u57ce\u6cb3\u3002\u5de8\u989d\u73b0\u91d1\u5934\u5bf8\uff0814 \u4ebf\u7f8e\u5143\uff09\u63d0\u4f9b\u4e86\u6570\u5e74\u7684\u8d44\u91d1\u652f\u6301\uff0c\u4e14\u6536\u8d2d\u5e26\u6765\u4e86\u5373\u65f6\u7684\u5236\u9020\u80fd\u529b\u3002\u8fd9\u662f\u6211\u4eec\u8986\u76d6\u8303\u56f4\u5185\u98ce\u9669\u6700\u9ad8\u7684\u6807\u7684\uff0c\u4f46\u5bf9\u4e8e\u62e5\u6709 3-5 \u5e74\u6295\u8d44\u89c6\u91ce\u548c\u9002\u5f53\u4ed3\u4f4d\u63a7\u5236\u7684\u6295\u8d44\u8005\u6765\u8bf4\uff0c\u76ee\u524d\u7684\u98ce\u9669\u56de\u62a5\u6bd4\u6781\u5177\u5438\u5f15\u529b\u3002  <\/p>\n\n<h1 class=\"wp-block-heading\">\u79d1\u6280\u5de8\u5934\uff1a\u7a33\u5065\u7684\u91cf\u5b50\u655e\u53e3<\/h1>\n\n<p class=\"wp-block-paragraph\">\u5bf9\u4e8e\u5bfb\u6c42\u91cf\u5b50\u655e\u53e3\u4f46\u53c8\u4e0d\u60f3\u627f\u53d7\u7eaf\u91cf\u5b50\u6807\u7684\u6781\u7aef\u6ce2\u52a8\u6027\u7684\u6295\u8d44\u8005\u6765\u8bf4\uff0c\u5927\u578b\u79d1\u6280\u4f01\u4e1a\u96c6\u56e2\u63d0\u4f9b\u4e86\u4e00\u4e2a\u66f4\u5b89\u5168\u3001\u5c3d\u7ba1\u88ab\u7a00\u91ca\u7684\u9009\u62e9\u3002\u5b83\u4eec\u7684\u91cf\u5b50\u90e8\u95e8\u4ee3\u8868\u7684\u662f\u671f\u6743\u4ef7\u503c\uff0c\u800c\u975e\u4e3b\u8981\u8425\u6536\u9a71\u52a8\u529b\u3002 <\/p>\n\n<h2 class=\"wp-block-heading\">International Business Machines (NYSE: IBM)<\/h2>\n\n<p class=\"wp-block-paragraph\">IBM \u582a\u79f0\u5168\u7403\u91cf\u5b50\u751f\u6001\u7cfb\u7edf\u4e2d\u6700\u91cd\u8981\u7684\u4e00\u65b9\u3002\u8be5\u516c\u53f8\u521a\u521a\u83b7\u5f97\u4e86 10 \u4ebf\u7f8e\u5143\u7684\u300a\u82af\u7247\u6cd5\u6848\u300b\u5956\u52b1\uff0c\u7528\u4e8e\u5efa\u9020\u7f8e\u56fd\u9996\u4e2a\u4e13\u95e8\u7684\u91cf\u5b50\u4ee3\u5de5\u5382\uff0cIBM \u81ea\u8eab\u4e5f\u5c06\u6295\u5165 10 \u4ebf\u7f8e\u5143\u2014\u2014\u8fd9 20 \u4ebf\u7f8e\u5143\u7684\u627f\u8bfa\u5de9\u56fa\u4e86\u5176\u57fa\u7840\u8bbe\u65bd\u9886\u5bfc\u5730\u4f4d\u3002IBM \u7684\u91cf\u5b50\u90e8\u95e8\u53d7\u76ca\u4e8e\u5341\u5e74\u7684\u4e91\u7aef\u91cf\u5b50\u8bbf\u95ee\u7ecf\u9a8c\u3001MIT-IBM \u8ba1\u7b97\u7814\u7a76\u5b9e\u9a8c\u5ba4\uff082026 \u5e74 4 \u6708\u542f\u52a8\uff09\u4ee5\u53ca\u4f0a\u5229\u8bfa\u4f0a\u91cf\u5b50\u4e0e\u5fae\u7535\u5b50\u56ed\u533a\u7684 750 \u4e2a\u65b0\u804c\u4f4d\u3002  <\/p>\n\n<p class=\"wp-block-paragraph\">IBM \u7684\u5e02\u76c8\u7387\u7ea6\u4e3a 20 \u500d\uff0c\u5e02\u503c\u4e3a 2,110 \u4ebf\u7f8e\u5143\uff0c\u63d0\u4f9b\u7a33\u5b9a\u7684\u80a1\u606f\uff08\u6536\u76ca\u7387\u7ea6 2.8%\uff09\uff0c\u5728\u6df7\u5408\u4e91\u548c AI \u9886\u57df\u62e5\u6709\u5de8\u5927\u7684\u4f01\u4e1a\u7248\u56fe\uff0c\u8fd9\u5b9e\u9645\u4e0a\u662f\u4e00\u4e2a\u5173\u4e8e\u91cf\u5b50\u9886\u5bfc\u5730\u4f4d\u7684\u514d\u8d39\u770b\u6da8\u671f\u6743\u3002\u8be5\u80a1\u5728\u300a\u82af\u7247\u6cd5\u6848\u300b\u5ba3\u5e03\u540e\u4e0a\u6da8\u4e86 7%\u3002 <\/p>\n\n<p class=\"wp-block-paragraph\"><strong>\u7ed3\u8bba\uff1a\u4e70\u5165<\/strong> | <strong>\u76ee\u6807\u4ef7\uff1a$275.00<\/strong> | \u6f5c\u5728\u6da8\u5e45\uff1a~14%<\/p>\n\n<p class=\"wp-block-paragraph\"><em>\u6295\u8d44\u903b\u8f91\uff1a<\/em>IBM \u63d0\u4f9b\u4e86\u91cf\u5b50\u4e3b\u9898\u4e0b\u6700\u4f73\u7684\u98ce\u9669\u8c03\u6574\u540e\u655e\u53e3\u300220 \u4ebf\u7f8e\u5143\u7684\u4ee3\u5de5\u5382\u9879\u76ee\u5de9\u56fa\u4e86\u5176\u4f5c\u4e3a\u56fd\u5185\u91cf\u5b50\u751f\u6001\u7cfb\u7edf\u57fa\u7840\u8bbe\u65bd\u9aa8\u5e72\u7684\u9886\u5bfc\u5730\u4f4d\uff0c\u800c\u5176\u4f20\u7edf\u7684\u6df7\u5408\u4e91\u548c AI \u4e1a\u52a1\u5219\u63d0\u4f9b\u4e86\u7a33\u5065\u7684\u8d22\u52a1\u57fa\u7840\u3002\u8fd9\u662f\u53ef\u4ee5\u201c\u5b89\u7a33\u5165\u7761\u201d\u7684\u91cf\u5b50\u5934\u5bf8\u3002  <\/p>\n\n<h2 class=\"wp-block-heading\">Alphabet Inc. (NASDAQ: GOOGL)<\/h2>\n\n<p class=\"wp-block-paragraph\">\u8c37\u6b4c\u7684\u91cf\u5b50\u90e8\u95e8\u51ed\u501f\u5176 105 \u91cf\u5b50\u6bd4\u7279\u7684 Willow \u82af\u7247\u5b9e\u73b0\u4e86\u4e00\u4e2a\u5386\u53f2\u6027\u7684\u91cc\u7a0b\u7891\uff0c\u8bc1\u660e\u4e86\u4f4e\u4e8e\u9608\u503c\u7684\u91cf\u5b50\u7ea0\u9519\u5728\u5927\u89c4\u6a21\u5e94\u7528\u4e2d\u662f\u53ef\u884c\u7684\u3002\u8fd9\u4e00\u7a81\u7834\u4ece\u6839\u672c\u4e0a\u6539\u53d8\u4e86\u5bb9\u9519\u91cf\u5b50\u8ba1\u7b97\u7684\u65f6\u95f4\u8868\uff0c\u6216\u8bb8\u4ee3\u8868\u4e86\u8be5\u9886\u57df\u5386\u53f2\u4e0a\u6700\u91cd\u8981\u7684\u5355\u4e00\u6280\u672f\u6210\u5c31\u3002 <\/p>\n\n<p class=\"wp-block-paragraph\">\u867d\u7136\u91cf\u5b50\u8ba1\u7b97\u76ee\u524d\u4ec5\u5360 Alphabet \u8d85\u8fc7 2 \u4e07\u4ebf\u7f8e\u5143\u5e02\u503c\u7684\u4e00\u5c0f\u90e8\u5206\uff0c\u4f46\u8be5\u516c\u53f8\u5e9e\u5927\u7684\u8ba1\u7b97\u8d44\u6e90\u3001AI \u534f\u540c\u6548\u5e94\u548c\u6df1\u539a\u7684\u4eba\u624d\u50a8\u5907\u4f7f\u5176\u6210\u4e3a\u4e00\u4e2a\u5f3a\u5927\u7684\u957f\u671f\u53c2\u4e0e\u8005\u3002\u6301\u6709 Alphabet \u5e94\u8be5\u662f\u4e3a\u4e86\u5176\u5728\u641c\u7d22\u3001\u4e91\u548c AI \u9886\u57df\u7684\u7edf\u6cbb\u5730\u4f4d\uff1b\u5176\u91cf\u5b50\u7a81\u7834\u4e3a\u8ba1\u7b97\u7684\u672a\u6765\u63d0\u4f9b\u4e86\u4e00\u4e2a\u5de8\u5927\u7684\u3001\u5c1a\u672a\u5b9a\u4ef7\u7684\u770b\u6da8\u671f\u6743\u3002 <\/p>\n\n<p class=\"wp-block-paragraph\"><strong>\u7ed3\u8bba\uff1a\u4e70\u5165<\/strong>\uff08\u5e7f\u4e49\u79d1\u6280\u80a1\uff09 | <em>\u91cf\u5b50\u655e\u53e3\u662f\u5e7f\u4e49\u6295\u8d44\u903b\u8f91\u4e2d\u7684\u514d\u8d39\u671f\u6743\u3002<\/em><\/p>\n\n<h2 class=\"wp-block-heading\">Microsoft Corporation (NASDAQ: MSFT)<\/h2>\n\n<p class=\"wp-block-paragraph\">\u5fae\u8f6f\u7684\u91cf\u5b50\u65b9\u6848\u5728\u79d1\u6280\u5de8\u5934\u4e2d\u6700\u4e3a\u72ec\u7279\u3002\u5176\u5728 2026 \u5e74\u521d\u63ed\u6653\u7684 Majorana 1 \u82af\u7247\u5229\u7528\u4e86\u57fa\u4e8e\u5947\u5f02\u9a6c\u7ea6\u62c9\u7eb3\u8d39\u7c73\u5b50\u7684\u62d3\u6251\u91cf\u5b50\u6bd4\u7279\uff0c\u4e0e\u7ade\u4e89\u65b9\u6848\u76f8\u6bd4\uff0c\u5177\u6709\u56fa\u6709\u7684\u66f4\u597d\u7a33\u5b9a\u6027\u548c\u66f4\u4f4e\u9519\u8bef\u7387\u3002\u8be5\u516c\u53f8\u5df2\u4ece\u5907\u53d7\u4e89\u8bae\u7684\u63a2\u6d4b\u58f0\u660e\u8f6c\u5411\u66f4\u575a\u5b9e\u7684\u5b9e\u9a8c\u7ed3\u679c\uff0c\u7ba1\u7406\u5c42\u8868\u793a\u5b9e\u7528\u7684\u91cf\u5b50\u8ba1\u7b97\u8ddd\u79bb\u6211\u4eec\u201c\u53ea\u6709\u51e0\u5e74\uff0c\u800c\u975e\u51e0\u5341\u5e74\u201d\u3002  <\/p>\n\n<p class=\"wp-block-paragraph\">\u5fae\u8f6f\u7684 Azure Quantum \u5e73\u53f0\u63d0\u4f9b\u5bf9\u591a\u4e2a\u91cf\u5b50\u786c\u4ef6\u4f9b\u5e94\u5546\u7684\u4e91\u7aef\u8bbf\u95ee\uff0c\u4f7f\u516c\u53f8\u65e2\u662f\u786c\u4ef6\u521b\u65b0\u8005\u53c8\u662f\u5e73\u53f0\u805a\u5408\u8005\u3002\u4e0e Alphabet \u4e00\u6837\uff0c\u91cf\u5b50\u8ba1\u7b97\u5728\u8fd9\u4e2a 3 \u4e07\u4ebf\u7f8e\u5143\u7684\u4f01\u4e1a\u4e2d\u662f\u4e00\u4e2a\u89c4\u6a21\u867d\u5c0f\u4f46\u5177\u6709\u6f5c\u5728\u53d8\u9769\u6027\u7684\u671f\u6743\u3002 <\/p>\n\n<h1 class=\"wp-block-heading\">\u7ed3\u8bba\uff1a\u6760\u94c3\u7b56\u7565<\/h1>\n\n<p class=\"wp-block-paragraph\">\u5728\u4e0d\u53ef\u5426\u8ba4\u7684\u6280\u672f\u8fdb\u6b65\u548c\u5de8\u5927\u7684\u8054\u90a6\u652f\u6301\u63a8\u52a8\u4e0b\uff0c\u91cf\u5b50\u8ba1\u7b97\u884c\u4e1a\u6b63\u7ecf\u5386\u4e00\u4e2a\u771f\u6b63\u7684\u62d0\u70b9\u3002\u4eca\u5929\u5ba3\u5e03\u7684 20 \u4ebf\u7f8e\u5143\u300a\u82af\u7247\u6cd5\u6848\u300b\u6295\u8d44\u9a8c\u8bc1\u4e86\u56fd\u5185\u91cf\u5b50\u57fa\u7840\u8bbe\u65bd\u7684\u6218\u7565\u91cd\u8981\u6027\uff0c\u5e76\u4e3a\u7eaf\u91cf\u5b50\u8ba1\u7b97\u516c\u53f8\u63d0\u4f9b\u4e86\u5173\u952e\u7684\u975e\u7a00\u91ca\u6027\u8d44\u91d1\u3002 <\/p>\n\n<p class=\"wp-block-paragraph\">\u7136\u800c\uff0c\u5e02\u573a\u76ee\u524d\u5bf9\u7eaf\u91cf\u5b50\u80a1\u7968\u7684\u5b9a\u4ef7\u9884\u8bbe\u4e86\u672a\u6765\u6570\u5e74\u5b8c\u7f8e\u7684\u6267\u884c\u529b\u3002\u8d85\u8fc7 100-350 \u500d\u7684\u5e02\u9500\u7387\u8981\u6c42\u975e\u51e1\u7684\u589e\u957f\uff0c\u800c\u4ece\u5b9e\u9a8c\u5ba4\u7a81\u7834\u5230\u5e7f\u6cdb\u5546\u4e1a\u90e8\u7f72\u7684\u8def\u5f84\u4ecd\u4e0d\u786e\u5b9a\uff0c\u4e14\u9700\u8981\u6570\u5e74\u65f6\u95f4\u3002 <\/p>\n\n<p class=\"wp-block-paragraph\">\u6211\u4eec\u5efa\u8bae\u91c7\u7528 <strong>\u6760\u94c3\u7b56\u7565<\/strong>\uff1a\u4ee5 IBM \u7b49\u5df2\u6210\u540d\u7684\u5de8\u5934\u4f5c\u4e3a\u6295\u8d44\u7ec4\u5408\u7684\u951a\u70b9\uff0c\u5b83\u4eec\u6b63\u5728\u5efa\u8bbe\u57fa\u7840\u67b6\u6784\uff0c\u5e76\u901a\u8fc7\u591a\u6837\u5316\u7684\u8425\u6536\u6765\u6e90\u63d0\u4f9b\u4e0b\u884c\u4fdd\u62a4\uff1b\u7136\u540e\u5c06\u6295\u673a\u6027\u8d44\u91d1\uff08\u79d1\u6280\u80a1\u914d\u7f6e\u7684 5-10%\uff09\u5206\u914d\u7ed9\u6700\u5f3a\u7684\u7eaf\u91cf\u5b50\u6807\u7684\u2014\u2014IonQ\uff0c\u5b83\u63d0\u4f9b\u4e86\u8425\u6536\u52a8\u529b\u3001\u5546\u4e1a\u7275\u5f15\u529b\u548c\u6280\u672f\u5dee\u5f02\u5316\u7684\u6700\u4f73\u7ed3\u5408\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">2 \u4e07\u4ebf\u7f8e\u5143\u7684\u91cf\u5b50\u7ecf\u6d4e\u4e0d\u518d\u662f\u79d1\u5e7b\u5c0f\u8bf4\u3002\u4f46\u5e94\u5bf9\u6ce2\u52a8\u9700\u8981\u7eaa\u5f8b\u3001\u9002\u5f53\u7684\u4ed3\u4f4d\u63a7\u5236\u4ee5\u53ca\u771f\u6b63\u7684\u957f\u671f\u6295\u8d44\u89c6\u91ce\u3002 <\/p>\n\n<h1 class=\"wp-block-heading\">\u7ed3\u8bba\u6458\u8981<\/h1>\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>\u80a1\u7968\u4ee3\u7801<\/strong><\/td><td><strong>\u7ed3\u8bba<\/strong><\/td><td><strong>\u76ee\u6807\u4ef7<\/strong><\/td><td><strong>\u5173\u952e\u50ac\u5316\u5242<\/strong><\/td><\/tr><tr><td><strong>IONQ<\/strong><\/td><td>\u4e70\u5165<\/td><td>$75.00<\/td><td>\u8425\u6536\u52a0\u901f\uff0cSkyWater \u6536\u8d2d<\/td><\/tr><tr><td><strong>QBTS<\/strong><\/td><td>\u6301\u6709<\/td><td>$32.00<\/td><td>6 \u6708 1 \u65e5\u6295\u8d44\u8005\u65e5\uff0c\u9884\u8ba2\u91cf\u8f6c\u5316<\/td><\/tr><tr><td><strong>RGTI<\/strong><\/td><td>\u5356\u51fa<\/td><td>$14.00<\/td><td>\u4f30\u503c\u4e0e\u8425\u6536\u8131\u8282<\/td><\/tr><tr><td><strong>QUBT<\/strong><\/td><td>\u6295\u673a\u6027\u4e70\u5165 <\/td><td>$18.00<\/td><td>\u5ba4\u6e29\u5149\u5b50\u5b66\uff0c\u5de8\u989d\u73b0\u91d1<\/td><\/tr><tr><td><strong>IBM<\/strong><\/td><td>\u4e70\u5165<\/td><td>$275.00<\/td><td>20 \u4ebf\u7f8e\u5143\u91cf\u5b50\u4ee3\u5de5\u5382\uff0c\u300a\u82af\u7247\u6cd5\u6848\u300b\u5956\u52b1<\/td><\/tr><tr><td><strong>GOOGL<\/strong><\/td><td>\u4e70\u5165<\/td><td>\u4e0d\u9002\u7528\uff08\u5e7f\u4e49\uff09<\/td><td>Willow \u82af\u7247\uff0c\u7ea0\u9519\u91cc\u7a0b\u7891<\/td><\/tr><\/tbody><\/table><\/figure>\n\n<p class=\"wp-block-paragraph\"><strong>\u514d\u8d23\u58f0\u660e\uff1a<\/strong>\u672c\u6587\u4ec5\u4f9b\u53c2\u8003\uff0c\u4e0d\u6784\u6210\u6295\u8d44\u5efa\u8bae\u3002\u4f5c\u8005\u53ca Equities Orbis \u53ef\u80fd\u6301\u6709\u63d0\u53ca\u8bc1\u5238\u7684\u5934\u5bf8\u3002\u8fc7\u5f80\u4e1a\u7ee9\u4e0d\u4ee3\u8868\u672a\u6765\u8868\u73b0\u3002\u91cf\u5b50\u8ba1\u7b97\u80a1\u7968\u5177\u6709\u9ad8\u5ea6\u6ce2\u52a8\u6027\u548c\u6295\u673a\u6027\uff1b\u6295\u8d44\u8005\u5728\u505a\u51fa\u6295\u8d44\u51b3\u7b56\u524d\u5e94\u8fdb\u884c\u5c3d\u804c\u8c03\u67e5\u5e76\u54a8\u8be2\u8d22\u52a1\u987e\u95ee\u3002   <\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u957f\u671f\u4ee5\u6765\uff0c\u91cf\u5b50\u8ba1\u7b97\u9886\u57df\u7684\u7279\u70b9\u662f\u5b8f\u4f1f\u7684\u627f\u8bfa&hellip;<\/p>\n","protected":false},"author":3,"featured_media":483,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[54],"tags":[],"class_list":["post-482","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-54"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u91cf\u5b50\u8ba1\u7b97\u80a1\u7968\u73b0\u5728\u503c\u5f97\u4e70\u5165\u5417\uff1f - Equities Orbis<\/title>\n<meta name=\"description\" content=\"Global equity research and stock analysis. 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