The Nobel Prize has ignited a multibillion-dollar track, with US stocks soaring by over 300%. This field is approaching the inflection point of commercialization.
In 1925, Heisenberg published the paper "Quantum - Mechanical Re - interpretation of Kinematic and Mechanical Relations", marking the beginning of modern quantum mechanics.
In 2025, exactly a hundred years later, the Nobel Prize in Physics was awarded to three quantum physicists again to recognize their research achievements in discovering macroscopic quantum tunneling and energy quantization in superconducting circuits.
In the glorious history of the Nobel Prize over the past century, the field of quantum mechanics has always been a "Nobel Prize concentration camp". Statistics show that there have been 26 laureates in the field of quantum mechanics in history, accounting for 11.3% of the total number of Nobel laureates in physics, slightly lower than the 18.3% in condensed - matter physics and 11.7% in astrophysics.
Olle Eriksson, the chairman of the Nobel Committee for Physics, said on that day: "Over the past century, quantum mechanics has continuously brought new surprises. It is very useful and provides the foundation for digital technology."
The announcement of the Nobel Prize in Physics has injected a shot in the arm into the development of quantum technology in the context of artificial intelligence. The research of these three physicists not only lays the theoretical foundation for quantum computing but also becomes a key turning point for quantum technology to move from the laboratory to industrial applications.
For domestic and foreign quantum technology companies, in the past two years, with favorable policies and increased capital investment, quantum technology companies have launched a financing boom, and the development of the quantum computing industry has entered the fast lane.
Favorable Policies Escort, Quantum Computing Moves Forward by Leaps and Bounds
After sorting out relevant policies on quantum computing, Yiou.com found that as early as in the "13th Five - Year Plan for the Development of National Strategic Emerging Industries" in 2016, China proposed to "coordinate the layout of key technology R & D for quantum chips, quantum programming, quantum software, and the preparation of related materials and devices, and promote the physical realization of quantum computers and the application of quantum simulation."
In the same year, many provincial and municipal governments emphasized the development of quantum computing and future industries in their government work reports. And the policy output and technical discussions in the field of quantum computing have increased significantly since 2020.
In terms of policies, the "14th Five - Year Plan" lists quantum information as one of the eight frontier fields. Quantum computing was mentioned in the "Government Work Report" for two consecutive years in 2024 and 2025, and it was listed as one of the three future industries together with atomic - scale manufacturing and clean hydrogen. This means that quantum computing has become an important direction for future industrial development and is in a strategic high - position.
In terms of technology, the Zhongguancun Forum, as a national - level platform for China's scientific and technological innovation exchange and cooperation with the world, has set up the "Forum on the Development and Future of Quantum Technology", and discussions around key technology directions in the field of quantum technology such as optical quantum, ion trap, and superconductivity have gradually begun.
Meanwhile, the Quantum Computing Conference, founded in 2022, focuses on the directions of quantum computing hardware and software, algorithms, application ecosystems, and education. It has now become an exchange platform covering theoretical research, engineering implementation, and industrial applications.
It is understood that at the 4th Quantum Computing Conference held this year, the "2024 - 2025 CQCC Quantum Computing Industry Report" was officially released, which summarized the current development of the domestic quantum computing field.
In terms of talent cultivation in the field of quantum computing, the Ministry of Education issued a notice in 2021 to add majors related to quantum information science to cultivate professionals in this field.
It can be seen that the development blueprint for quantum technology was drawn up a decade ago. Now, with the protection of policies, the industry has entered a stage of rapid development.
Capital Enters the Market, A Crescendo in Both Primary and Secondary Markets
Since 2025, quantum - computing - related companies in the primary market have been actively raising funds, and the secondary market has also been in a frenzy of rising stock prices. Surprisingly, this trend is not limited to China.
Internationally, especially in July this year, the stock prices of the US quantum computing company Quantum Computing (QUBT) and the quantum encryption technology company Arqit Quantum Inc. (ARQQ) showed strong upward momentum, reaching new highs this year and approaching historical peaks.
The stock price of QUBT rose from a low of $4.37 per share on March 14th this year to a high of $21.88 per share on July 11th, an increase of 304.41%.
The lowest stock price of ARQQ in the past six months was $11.04 per share, and on July 22nd, its stock price rose to $50.21 per share, a staggering increase of 354.80%. As of this month, the stock price of QUBT in the secondary market has generally been on an upward trend, while ARQQ has shown mediocre performance.
In addition, the US quantum computing sector had a collective explosion in May. The leading stock IonQ had a single - day increase of nearly 37%, and the increases of D - Wave, Rigetti, etc. all exceeded 20%.
Samik Chattejee, an analyst at JPMorgan Chase, said in a recently released in - depth report on quantum computing that quantum computing is expected to benefit from a large amount of investment, and the global public investment is expected to reach $45 billion in 2025 alone.
The report said that governments around the world not only regard quantum technology as a key area for innovation but also invest a large amount of resources to accelerate its development. The commitment of governments provides a favorable signal for enterprises and investors, indicating that quantum technology is expected to become the cornerstone of future technological progress and economic growth.
In contrast, there are relatively few listed quantum technology companies in China. In addition to Guodun Quantum, which is already listed, as of now, Guoyi Quantum and Origin Quantum are in the listing counseling stage, and more start - up companies are in the process of raising funds.
Since this year, investment and financing in the field of quantum computing have been active. As of the end of the third quarter, 14 domestic related companies have completed a total of 16 rounds of financing, covering different rounds such as angel rounds, Series A, Series B, and Series C. Among them, Zhongke Kuyuan and Bose Quantum have each completed two rounds of financing so far.
It is understood that Zhongke Kuyuan has the R & D and industrialization capabilities in both atomic quantum computing and quantum precision measurement. It focuses on the original innovation and technological R & D of quantum technology, and its core products include the Hanyuan No. 1 atomic quantum computer and the portable atomic quantum gravimeter.
Bose Quantum, which has also completed two rounds of financing as of now, is a hard - tech company focusing on optical quantum computing. In April this year, it released a new - generation coherent optical quantum computer with 1000 computational qubits. Its overall technology is at the world - leading level. At the same time, it has established optical quantum laboratories in Tianjin, Suzhou and other places, and has carried out application exploration and real - machine testing in fields such as artificial intelligence, cloud computing, finance, and pharmaceuticals.
Tech Giants Enter the Market, Competition Intensifies
Favorable policies and strong capital support have provided favorable conditions for the development of quantum technology. In the past two years, there have been continuous technological breakthroughs in the field of quantum computing both at home and abroad.
Internationally, in December last year, Google's Willow quantum chip achieved a scalable quantum error - correction system, which can solve problems in 5 minutes that would take traditional supercomputers billions of years to solve, and reduced the error rate to 0.1%.
In addition, the Canadian quantum computing company D - Wave announced in March this year that its quantum computer outperformed traditional supercomputers when solving complex magnetic material simulation problems.
In China, there have been frequent reports of technological breakthroughs in the field of quantum computing. As early as 2016, China successfully launched the world's first quantum science experimental satellite, "Micius", which became one of the top ten science and technology news of that year.
The successful launch of "Micius" was China's first realization of quantum communication between a satellite and the ground, which helps China maintain and expand its international leading position in the overall level of practical quantum communication technology.
In March this year, the 105 - qubit superconducting quantum computer "Zuchongzhi III" developed by the original team of the University of Science and Technology of China achieved a rapid solution to the "quantum random circuit sampling" task.
According to a report in "China Science Daily", the speed of "Zuchongzhi III" in processing the quantum random circuit sampling problem is one quadrillion times faster than the current fastest supercomputer and one million times faster than Google's 67 - qubit superconducting quantum processor "Sycamore" publicly released in October last year.
In terms of commercialization, China's third - generation self - developed superconducting quantum computer "Benyuan Wukong" has been deployed in many places.
Guo Guoping, the general person - in - charge of the research and development team of "Benyuan Wukong", said in an interview with the media: "The commercial operation of 'Benyuan Wukong' in many places in China marks that China has the ability to commercially operate quantum computers and has become an important participant in the global quantum computing field."
It is understood that a task that would take a traditional supercomputer 300 hours to complete can be solved by the "Benyuan Wukong" quantum computer in just a few seconds.
The deployment of "Benyuan Wukong" has opened up broad prospects for the large - scale application of quantum computing technology in China and the construction of an industrial ecosystem.
While technology continues to advance, the competition among domestic and foreign enterprises in the field of quantum computing has gradually become fierce. Large - scale investment and financing activities and mergers and acquisitions have added to the popularity of the quantum computing industry. The entry of NVIDIA has also attracted more attention to quantum computing.
According to foreign media reports, in May this year, NVIDIA held in - depth negotiations and finally invested in the quantum computing startup PsiQuantum.
This round of investment was led by BlackRock, with NVIDIA participating. PsiQuantum finally raised $750 million. After this round of financing, PsiQuantum's valuation reached $6 billion, making it expected to become the world's most highly valued quantum computing startup. It is understood that this is the first time NVIDIA has directly invested in a quantum computing hardware company.
Meanwhile, the US quantum computing company IonQ announced the acquisition of the UK's Oxford Ionics for $1.075 billion.
In August this year, IonQ completed the pricing of a $1 billion equity financing, which was exclusively subscribed by Heights Capital Management.
Nicolo de Masi, the president and CEO of IonQ, said: "This may be the largest single - institutional common - stock investment in the history of the quantum industry, fully verifying our technological strength, recent acquisition results, and talent reserve."
In mid - July earlier, the United States and Israel planned to set up a $200 million joint quantum fund. The establishment of this fund will rely on Israel's quantum technology advantages and Gulf energy infrastructure to strengthen regional relations. It is understood that the US - Israel cooperation also plans to invite countries such as the United Arab Emirates and Saudi Arabia to participate.
Integration of Quantum and AI, A New Blue Ocean in the Industry
The rapidly developing artificial intelligence is another important factor driving the development of quantum computing.
AI and quantum computing show a relationship of interdependence and symbiotic development. Dai Qionghai, an academician of the Chinese Academy of Engineering, said in a previous interview with the media.
On the one hand, as the requirements for large - model training increase, the demand for higher - performance and faster computing power also increases. Quantum computers are expected to break through the computing - power bottleneck of current AI model training and improve algorithm efficiency.
On the other hand, artificial intelligence can empower quantum technology in aspects such as quantum control, error correction, and algorithm design, providing new paths for the stability and scalability of quantum systems. The two form a synergistic relationship of integrated development.
The "integration of quantum and AI" can be regarded as a new blue ocean in the current quantum computing industry, said Sun Xiaoming, a researcher at the Institute of Computing Technology of the Chinese Academy of Sciences, in a previous interview with the media.
In the past five years, the explosion of generative AI has highlighted the disruptive development of computing models. Sun Xiaoming believes that in the next five years, quantum computing is likely to move from the laboratory to applications. Therefore, the integration of artificial intelligence and quantum computing has become an inevitable trend.
"The core of the integration of quantum and AI is not a one - way technical superposition, but a horizontal connection across multiple fields and disciplines, achieving non - linear growth through collaborative innovation." Dai Qionghai said.
Commercialization Will Take Another 5 - 10 Years
Although quantum computing is accelerating its development both at home and abroad, the differences and risks therein cannot be ignored.
From a technical perspective, according to the "Analysis of the Current Situation and Development Trend of the Quantum Computing Industry in 2025" previously released by the China Industry Research Institute, the practical application of quantum computing still faces three core problems: quantum error - correction efficiency, low - temperature environment control, and software ecosystem construction. Constrained by technical conditions, quantum computers are currently still in the "scenario verification" stage.
Xiang Jingen, the CEO of Liangxuan Technology, said frankly: "A strict 'practical' standard for quantum computing is that the cost - performance ratio of a quantum computer in solving an industrial problem should exceed that of a traditional supercomputer, and we haven't reached that level yet."
Therefore, although the prospects for quantum computing are broad, the entire industry still has a long way to go before reaching the real "practical" stage.
Google CEO Sundar Pichai previously said: "It will take another 5 to 10 years to make quantum computers 'practically useful'."
It can be seen that although technological breakthroughs and innovation achievements in quantum computing are continuously advancing, there are still many problems on the application side.
In addition, the bubble in the capital market and the disconnection between valuation and actual performance are also problems faced by quantum computing companies in the secondary market.
According to data from Business Research Insights, the global quantum computing market was worth $300 million in 2024 and is expected to reach $4.91 billion by 2033, with a compound annual growth rate of 35.2% from 2025 to 2033.
The market value of the US quantum computing company Quantum Computing (QUBT) is as high as $2.6 billion, but its revenue in the first quarter of 2025 was only $39,000; the situation of Arqit Quantum (ARQQ) is also not optimistic, with its revenue in the first half of 2025 being only $67,000.
The serious disconnection between the market value and revenue of quantum computing companies is a typical manifestation of the co - existence of market frenzy and high expectations. While technological innovation and market prospects raise expectations, they may also lead to sharp short - term corrections.
In addition, according to a McKinsey report, by 2025, if no major intervention measures are taken, the filling rate of quantum computing positions will be less than 50%. The shortage of talent has become another problem faced by the quantum computing industry.
"Quantum technology often involves