5 Quantum Computing Stocks Billionaires Are Piling Into

4. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 163

Number of Billionaire Investors: 22

A prominent player in the technology sector, Alphabet Inc. (NASDAQ:GOOG) is anchored by Google, a search engine that processes billions of daily queries. The company possesses diverse platforms for video streaming and productivity, with YouTube standing out as a notable asset. Additionally, Alphabet Inc. (NASDAQ:GOOG) is involved in the retail of electronic devices, including smartphones, ultra-thin notebooks, and speakers. The company has positioned itself as one of the leading quantum computing firms globally with Bristlecone. The 72-qubit quantum processor by Alphabet reduces data testing error rates while seamlessly integrating with the necessary software applications and control electronics for field operations. Additionally, in 2022, the company established its quantum computing and artificial intelligence private entity called Sandbox AQ. This venture has begun to make strides in commercially viable sectors such as GPS mapping, drug development, and cybersecurity.

As of the conclusion of the third quarter of 2023, 163 hedge funds held stakes in Alphabet Inc. (NASDAQ:GOOG). The largest stakeholder in the company was Fisher Asset Management, managed by Ken Fisher, which owns a stake valued at $5.72 billion.

Ensemble Capital Management made the following comment about Alphabet Inc. (NASDAQ:GOOG) in its Q3 2023 investor letter:

“Alphabet Inc. (NASDAQ:GOOG) (+9.32%): Separate from all the discussion of artificial intelligence, Google’s core Search business, having experienced a significant slowdown in 2022, now shows clear signs of reacceleration. While the future of AI and its impact on Google is still subject to a healthy debate, the company seems to have put to bed investor concerns about any rapid negative impact. With Search revenue growth accelerating, and the company rolling out lots of new AI tools, the investor panic from the beginning of the year about AI immediately hurting Google appears to have been overblown.”