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A community for Venture Capital and stocks! While also touching on emerging tech and innovations!

[ultra @FundFox_]

@LanceTeren Want to hear more on $NVDA fsss

[Lance Teren @LanceTeren]

$INFQ reports Q2 on August 12 after the close. Here's what to watch.

Revenue needs to accelerate. Q1 was $9.5M, up 14% YoY, full year guidance is $40M+ and I'd like to see a beat on that, the back half has to carry that guide, and Q2 is where we find out if it's real. Projections are a little over $10 million this quarter.

They're still targeting 30 logical qubits by end of 2026. The Illinois system announced in July is designed for 50+ on a path to 100. I care about this progress more than the revenue print.

Contracts are stacking up. Three DOE Genesis Mission projects in July plus the Illinois deployment locked for 2027. I also want an update on the $100M CHIPS LOI. Management has pointed to a $300M+ total pipeline, so any new contracts or partnerships announced on this call tell us how fast it's converting.

Sqale is integrated with $NVIDIA NVQLink, coupling the QPU directly with GPU compute. Any expansion of that relationship I'd love to hear.

They have $569M cash and zero debt, so runway isn't the concern. But would like to see what the burn rate is for this quarter.

What are you watching for on the 12th?

$INFQ $IONQ $QNT

[Lance Teren @LanceTeren]

$IONQ THIS IS HUGE

$IONQ + Anduril MOU just dropped.
They’re teaming up to bring IonQ’s entire quantum platform: computing + networking + sensing + security into defense & national security use cases, plus joint bids for mission-critical gov & commercial work.

This is a big validation of $IONQ full stack approach and could open the door to a lot of major DoD contracts and real world scale. Very bullish and might be the biggest news yet.

[ultra @FundFox_]

@LanceTeren @qctrlHQ @infleqtion @pasqal_quantum @QuantinuumQC @IonQ_Inc @dwavequantum @Atom_Computing @TeamOratomic I can’t wait for Oratomic one day but glad $INFQ has exposure

[Lance Teren @LanceTeren]

Here are the 20 LARGEST Quantum companies in the world both public and private.

1. $IONQ - $16B
2. $QNT - $15B
3. QuantumCTek - $9B
4. $QBTS - $7.4B
5. PsiQuantum - $7B
6. SandboxAQ - $5.75B
7. $RGTI - $5.3B
8. $XNDU - $3.4B
9. Terra Quantum - $3.5B
10. Oxford Quantum Circuits - $2.3-$4.4B
11. $INFQ - $2.5B
12. Pasqal ($BBCQ) - $2.4B
13. Multiverse Computing - $2.3B
14. Photonic - $2B
15. $IQMX - $1.8B
16. Origin Quantum - $1-$3B
17. Oratomic - $1.5B
18. QuEra - $1-$1.7B
19. Atom Computing - $1-$1.5B
20. Q-CTRL - $250-700 Million

I believe this list will change drastically in the years to come, with names like $RGTI falling and some of the losers which will be determined phasing out, and many undervalued names like $INFQ on the rise and $IQMX on the rise. These valuations will also sky rocket, there's only TWO companies over a $10 billion dollar valuation and as more become public like Psi Quantum etc will cross that threshold.

Lots of awesome companies will start the process of going public soon and I'm super excited for this quantum future.

Apologies if I missed any names it's hard to track these private valuations.

[ultra @FundFox_]

@LanceTeren @qctrlHQ Also super excited

[Lance Teren @LanceTeren]

There are a few private quantum companies I can't wait to go public and Q-CTRL out of Sydney is one of them. So heres a full breakdown on the companies board, member by member because it gives a sneak peak to where their heading.

Q-CTRL builds the quantum infrastructure software layer, the error suppression tech that makes everyone else's qubits perform better, plus quantum sensing for navigation when GPS is jammed. They are backed by Square Peg, Airbus Ventures and Salesforce Ventures, and their software already runs on other companies' hardware the same way Superstaq does for $INFQ.

Michael Biercuk, Founder and CEO. Harvard PhD who spent three years as a full time technical consultant to DARPA advising on quantum investments, then did research at NIST working alongside Nobel laureate David Wineland before becoming a quantum physics professor at the University of Sydney, where he still directs the Quantum Control Laboratory.

Bill Bartee. Managing Partner at Main Sequence Ventures, the venture fund backed by CSIRO, Australia's national science agency, which makes him the bridge to the Australian government's deep tech money.

Tony Holt. Co-founder and Partner at Square Peg, one of Australia's premier venture firms and an early Q-CTRL backer, bringing the scaling playbook from the region's biggest tech wins.

Nicole Conner. Partner at Airbus Ventures who spent her legal career at White & Case and Arnold & Porter working aerospace and defense transactions.

Per Roman. Co-founder of Bullhound Capital, the European firm that has deployed over a billion euros and guided companies like $SPOT Klarna and Revolut toward their exits.

Q-CTRL could quietly be assembling the exact board you want in place before an IPO. A pure play quantum software and sensing listing would get lots of attention. I believe Q-CTRL is probably the most innovative and important company Ausatrlia has right now.

My rating is a 7 out of 10 for now, but once they go public this board will change dramatically and add more than VCs and investors bringing the rating up much higher.

$IONQ $QNT $INFQ

[Lance Teren @LanceTeren]

$INFQ Matt Kinsella has been a massive advocate for the US to gain supremacy over China in quantum putting it bluntly when the company went public, saying "make no mistake, it's a huge race between the US and China" and admitting that "China is out investing the US by a pretty wide margin." He also pointed out that the US just made quantum one of the six critical technologies it absolutely must win.

I created this graph showing China has committed roughly $15 billion in public money to quantum, which is more than triple the United States at about $4.5 billion, and America is not even second, the UK is.

The good news is Washington is finally waking up this year. With the $2 billion CHIPS act into nine quantum companies in exchange for equity stakes, the DOE launched the Genesis Mission targeting fault tolerant machines by 2028, and states like Illinois are pouring hundreds of millions into quantum campuses. The gap is still massive, but the direction just changed for the first time in a decade.

This race has just begun and I expect spending to be in the tens of billions in the blink of an eye.

$INFQ $QNT $IONQ

[Asymmetrical Bets @AsymmetricBets_]

The Trump administration is drafting a ban on new Chinese optical transceivers, the critical networking components that move data at light speed inside data centers.

The goal is to keep Chinese hardware out of U.S. AI infrastructure before it becomes deeply embedded.

Some of our favorite names are moving higher on the news:

$AAOI: +13.6%
$LITE: +7%
$COHR: +11%

[Lance Teren @LanceTeren]

The climb has begun $INFQ

This chop will all be a distant memory one day and I’ll see you at $20+ soon enough

[Lance Teren @LanceTeren]

Stocks are the best because how many other places can make you over $160,000 dollars at 18?

[ultra @FundFox_]

@LanceTeren Insane.

[Lance Teren @LanceTeren]

$INFQ is earning its price and I love it, call me crazy but $INFQ having a slow rise from here at $10 is going to be purely based on fundamentals and the company actually executing and less on hype.

Yes, it sucks to see $RGTI and others have a higher market cap but that’s just how it is, they’ve been on the market longer, caught the biggest quantum hype and developed a massive institutional holding.

Now $INFQ has to continue to earn it and it is, I feel more confident here because we are actually making moves causing real price changes vs pumping up to $19 and dumping simultaneously on sentiment and algos, etc.

This company will execute and will continue to impress me and be my favorite quantum name. Lots to look forward to, just wanted to share.

[Asymmetrical Bets @AsymmetricBets_]

Neocloud sentiment has been at its lowest point in months, $NBIS is down 43% over the past month, $CRWV down 36%, $IREN down 37% while the demand behind these companies has never been stronger.

July 6: $WULF executed a 20 year lease with Anthropic at its Hawesville, Kentucky campus, expected to generate roughly $19B in contracted revenue across 401MW of critical IT load.

July 20: $HUT signed a second 15 year, $9.8B lease for 352MW at Beacon Point, fully commercializing the 1GW campus and taking contract value to $19.6B base, up to $50.2B with renewals.

July 20: $IREN added $2.8B in new multi-year AI cloud contracts and raised its 2026 ARR target above $4B, with roughly 85% now under contract. Customers include Microsoft, NVIDIA, Perplexity, and Figure AI.

July 28: $CORZ and $AMD signed a 15 year lease on 529MW of US capacity worth $14B in base contracted revenue, with AMD holding rights to reserve another 1.9GW through 2028.

That’s north of $45B in newly contracted revenue in 22 days.

[ultra @FundFox_]

@LanceTeren @NiccoloDeMasi @IonQ_Inc Thank you!

[Lance Teren @LanceTeren]

The next board breakdown is $IONQ going though each person, member by member, and it's very different from my first deep dive in $INFQ.

Niccolo de Masi, Chairman and CEO. The dMY Technology SPAC veteran who originally took $IONQ public in 2021, and he now holds both the chairman and CEO seats after taking over in 2025. Been an entrepreneur his whole career with many different succesful ventures and also was on the board of $PL.

Kathryn Chou, Lead Independent Director. Enterprise software operator with senior engineering roles at VMware, Nutanix, $INTU and $HPE.

Bill Scannell. Sitting President and Chief Customer Officer of $DELL, plus a $SNOW board seat, meaning the guy who runs sales for one of the biggest enterprise hardware companies on earth is helping $IONQ sell.

Bill Teuber. Former Vice Chairman and CFO of EMC, one of the biggest storage companies ever built, now chairing the audit committee.

General John Raymond. Retired four star and the first ever Chief of Space Operations, literally the founding commander of the U.S. Space Force, now at $CBRS and advising $IONQ on the defense side.

Gabrielle Toledano. Executive stints across $TSLA, $EA and $MSFT, covering the talent and operations side.

Jim Frankola. Former CFO of Cloudera for over a decade, more real public company finance.

Robert Cardillo, the former Director of the National Geospatial-Intelligence Agency, just moved off the main board to become Executive Chair of $IONQ Federal, the arm built specifically to win government contracts.

The government story here is space and defense rather than energy. The founding chief of the Space Force plus a former spy satellite agency director running the federal arm tells you exactly where $IONQ is aiming, which is quantum networking and leaning toward the Pentagon and the intelligence community. Capella space is also a big driver of this.

My rating is a 8 out of 10. Elite enterprise tech and defense space connections, heavy board turnover in 2025, but could use more reach into the DOE and chip manufacturing world.

Which quantum board should I break down next?

$IONQ $INFQ $QNT

[Lance Teren @LanceTeren]

$XNDU is a very underrated name and worth checking out.

CEO @_cweedbrook has one of the clearest endgames in quantum, and almost nobody outside the industry has heard it. He wants to build a full fault tolerant quantum data center by 2029, thousands of quantum server racks on a couple of acres, and he calls it the holy grail of the company.

$XNDU computes with photons, meaning particles of light, and light doesn't need the giant dilution refrigerators that superconducting machines live inside. Roughly 90 percent of Xanadu's system runs at room temperature, and the qubits travel over the same fiber optics that telecom networks already use, so their machines rack, stack and network like ordinary servers.

Their Aurora system proved the concept, four server racks linked into one quantum computer over fiber, the first modular networked quantum machine anyone has built, and Weedbrook's point is that once you can link four racks you can in principle link thousands.

The data center impact is where this gets real, because the whole industry is converging on quantum living inside AI data centers rather than standalone labs, and a machine that is already rack based and fiber networked slots into that world natively. They also just signed with TELUS to build sovereign hybrid quantum-classical data center infrastructure in Canada on TELUS's fiber network.

They may be one of the further out bets in quantum but I'd rank them among my top 3 favorite names.

$XNDU $QNT $INFQ

[ultra @FundFox_]

@LanceTeren $IONQ next

[Lance Teren @LanceTeren]

I went through $INFQ entire board, member by member, and it's a powerhouse team.

Catherine Lego, Chair. Semiconductor board veteran who has sat on $LRCX, Cypress, $SNDK and IPG Photonics. Truly been apart of some massive winners.

Matt Kinsella, CEO. Spent nearly two decades as a Managing Director at Maverick Capital actually leading $INFQ seed round, then taking the lead role.

Kristina Johnson. Former Under Secretary of Energy at the DOE, ex president of Ohio State, current $CSCO and DuPont board member, and a National Inventors Hall of Fame inductee for her own optics patents.

Dawn Meyerriecks. Ran the CIA's Science and Technology directorate from 2014 to 2021, the part of the agency that builds the actual spy tech, after serving as CTO of the Pentagon's DISA.

Eric Bjornholt. CFO of $MCHP (Microchip Technology )since 2009, so the finance oversight comes from a real massive $40 billion dollar chip company.

Nicholas Johnson. Partner at M. Klein and Company, the firm who created the CCCX SPAC, I love this because it shows true incentive of sticking around and not dumping shares.

David Singer. Leads Maverick Capital's private investments since 2004, with seven public company boards behind him. Venture Capital legend with immense connections.

$INFQ constantly wins government contracts and partnerships and the former number two at the DOE sits on this board knowing exactly how that agency buys technology. The sensing business sells into defense and intelligence, and the person who ran technology for the CIA is in the room shaping it.

My rating is a 9 out of 10. Chip operators, real public company finance, and two genuine government heavyweights covering DOE and the intelligence community.

Let me know which quantum company you want a board breakdown for next!

$INFQ $QNT $IONQ

[ultra @FundFox_]

@LanceTeren Nvidia’s favorite