A palpable shift is underway in the high-beta technology trade. As artificial intelligence (AI) hardware names face margin compression and the specter of global tax agreements, speculative capital appears to be aggressively rotating into the next frontier of processing power, quantum computing.
The capital rotation looks different from the familiar, hype-driven cycle based on theoretical breakthroughs. The sector is being violently repriced on the back of tangible revenue beats and strategic maneuvers to vertically integrate the hardware supply chain, creating a distinct momentum channel that is completely decoupled from traditional tech sector headwinds.
