The quantum war has begun

The United States and China are vying for every strategic technology in this century, with quantum computing being the next frontier. The numbers are staggering: by 2025, global investments in the sector have exceeded 10 billion dollars, with tens of billions of dollars spent cumulatively over the past decade.

Together, Washington and Beijing hold the majority of public funding, turning this field into a matter of sovereignty as well as a technological race.

In the face of this acceleration, Europe is experiencing a structural delay. Emmanuel Macron attempted to address this on Friday by unlocking an additional 1.55 billion euros, with 1 billion dedicated to quantum and 550 million for semiconductors. Despite France having accumulated over 2 billion euros since 2021 as part of its “France 2030” strategy, it still lags far behind China, which has invested around 15 billion dollars in quantum technology in recent years.

What is at stake goes far beyond technology. Cryptography, computing power, military superiority: quantum technology will shape the power dynamics of tomorrow. For an investor, the equation is simple: states do not invest billions in gadgets; they invest in what will reshape the world.