5 Quantum Computing Stocks Billionaires Are Loading Up On

4. Alibaba Group Holding Limited (NYSE:BABA)

Number of Billionaire Investors: 25

Dollar Value of Billionaire Holdings: $2,105,631,807

Number of Hedge Fund Holders: 128

Alibaba Group Holding Limited (NYSE:BABA) has secured the fourth position on our list of the best quantum computing stocks billionaires are purchasing.

Alibaba Group Holding Limited (NYSE:BABA) has established the CAS-Alibaba Quantum Computing Laboratory in partnership with the Chinese Academy of Science to expand the company’s operations in the quantum computing industry. The research facility is part of the Alibaba Group’s DAMO Academy (Academy for Discovery, Adventure, Momentum, and Outlook), considered the technology conglomerate’s research and development (R&D) arm. The division has developed a processor leveraging the power of fluxonium qubits.

Here’s what L1 Capital said about Alibaba Group Holding Limited (NYSE:BABA) in its Q1 2023 investor letter:

“Alibaba Group Holding Limited (NYSE:BABA) (Long +16%) shares performed strongly based on favourable sentiment surrounding China’s re-opening and indications from Chinese authorities that the prolonged restructuring process of Alibaba/Ant Financial was finally drawing to a close. The company remains a high-quality business with leading positions in both eCommerce and Public Cloud. We exited our position in January at around US$116 per share with the shares having rallied more than 90% since their early November lows and our China re-opening catalyst having played out. We subsequently re-entered the position in March with the shares having pulled back and with the company announcing a new organisational and governance structure. Alibaba has announced plans to split into six major business groups – Cloud Intelligence, Taobao Tmall, Local Services, Global Digital, Cainiao Smart Logistics and Digital Media and Entertainment Group. Each of these groups will be managed independently (separate CEO and board) and have the flexibility to raise external capital and potentially pursue separate IPOs. We believe this announcement is a strong catalyst to unlock the inherent sum-of-the-parts valuation discount in the company.”