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24.08.25 19:09:28 |
Guru Fundamental Report for IBM |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
Below is Validea's guru fundamental report for INTERNATIONAL BUSINESS MACHINES CORP. (IBM). Of the 22 guru strategies we follow, IBM rates highest using our Multi-Factor Investor model based on the published strategy of Pim van Vliet. This multi-factor model seeks low volatility stocks that also have strong momentum and high net payout yields.
INTERNATIONAL BUSINESS MACHINES CORP. (IBM) is a large-cap growth stock in the Computer Services industry. The rating using this strategy is 93% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria. MARKET CAP:PASSSTANDARD DEVIATION:PASSTWELVE MINUS ONE MOMENTUM:NEUTRALNET PAYOUT YIELD:NEUTRALFINAL RANK:PASS
Detailed Analysis of INTERNATIONAL BUSINESS MACHINES CORP.
IBM Guru Analysis
IBM Fundamental Analysis
More Information on Pim van Vliet
Pim van Vliet Portfolio
About Pim van Vliet: In investing, you typically need to take more risk to get more return. There is one major exception to this in the factor investing world, though. Low volatility stocks have been proven to outperform their high volatility counterparts, and do so with less risk. Pim van Vliet is the head of Conservative Equities at Robeco Asset Management. His research into conservative factor investing led to the creation of this strategy and the publication of the book "High Returns From Low Risk: A Remarkable Stock Market Paradox". Van Vliet holds a PhD in Financial and Business Economics from Erasmus University Rotterdam.
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About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
24.08.25 15:19:00 |
Want AI Exposure With Less Volatility? This Stock Is a Top Choice. |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
Key Points
IBM provides AI exposure with a 0.70 beta, offering a calmer ride than rocket ships like Nvidia or Microsoft. Big Blue's free cash flow rose about 55% over three years despite modest revenue growth. The stock is down in the last month and last quarter and sits well below its 52‑week high, which creates a tempting setup for new money. 10 stocks we like better than International Business Machines ›
I get it. The ongoing artificial intelligence (AI) boom gives you a dopamine rush from market darlings like Nvidia and Microsoft. The recent financial results are gorgeous, the AI growth narratives are grand, and the valuation multiples are...aspirational. Microsoft stock trades at 52 times free cash flow, and Nvidia's reading on the same ratio is 58. Their price-to-sales valuations are double-digit figures.
But if you want AI exposure that won't have you checking stock futures at 3 a.m., you should consider something deeply unfashionable instead. I'm talking about IBM(NYSE: IBM).
Yes, the Big Blue IBM. The one your grandparents think still sells mainframes and punch cards. Under the hood, it's now a hybrid-cloud-and-software company with an enterprise-AI services segment that gets paid to make other people's AI actually work. Sure, IBM still sells mainframes, but even these heavy-duty data crunchers come with integrated AI systems nowadays.
In the long run, for all the romance with shiny new things and high-octane growth stories, the stock market tends to reward cash flow that shows up on time. And in the rapidly evolving AI market, IBM is a cash flow machine.
The calmer way to play AI
Let's run a few more numbers. As of Aug. 22, IBM's beta value stands at 0.70. That means IBM typically moves roughly two-thirds as much as the market, directionally.
It's a pretty calm investment. A low beta is not a bug -- it's a feature. You're trading some upside optionality for a smoother ride with fewer sudden price drops.
Valuation is the second sanity check. IBM's shares trade at 18 times free cash flow and 3.5 times trailing sales. In AI land, that's pretty austere. These modest valuation ratios suggest you're paying a fair, not fanciful, price for IBM's proven cash generation.
Meanwhile, the dividend yield is 2.8%. That's actually on the low side for IBM, whose yield averaged 4.3% over the last five years. At the same time, it's far above the S&P 500 index's average yield of 1.2% and light-years ahead of Microsoft or Nvidia -- their yields stop at 0.7% and 0.02%, respectively.
Story Continues
Image source: Getty Images.
Not a rocket ship, but a cash machine
"But growth!" you say. "IBM's slow-burning cash generation is boring!"
Right -- Big Blue isn't a hypergrowth story. Trailing sales are up by 7.3% over the last three years -- in total, not per year. IBM can't keep up with Microsoft's 42% revenue growth over the period, not to mention Nvidia's booming 399% top-line increase.
The counterpoint is cash profit. IBM's free cash flow surged 55% higher in this three-year period, driven by a great long-term strategy. Red Hat is the hybrid-cloud foundation on which IBM's cloud-centered AI strategy is constructed. Software subscriptions sit on top of that robust base, and consulting services glue the whole plan together. IBM lives in the boring but profitable pick-and-shovel part of the AI build-out.
WatsonX adoption is picking up the pace
IBM's customers have been testing its WatsonX AI services for a couple of years now, preparing to install enterprise-friendly AI services for the long haul. These pre-adoption tests are converting into solid long-term contracts nowadays.
You can see this trend in IBM's financial reports, and investors are taking notice. That's why the dividend yield is so low: IBM's stock has gained 22% in the last year, or 25% if you account for dividends with the total-return metric.
If you want a near-term trading angle, the ticker tape has actually done you a favor recently. IBM is down by high single digits over the past month and past quarter, nearly 19% below its 52-week high. That's not a full-on retreat, but it is a better entry point than chasing the lofty valuations of Nvidia and Microsoft.
Risks? Sure. IBM's debt leverage is substantial. And if the market decides that every AI-adjacent stock must be priced like an accelerator chip monopoly, IBM won't excite anybody.
But suppose the valuation multiples of highfliers continue to compress, as they have been doing in recent quarters. In that case, investors tend to rediscover IBM-like stocks with strong cash flows, rich dividends, and low beta values. This cash machine makes risk-weary investors feel safe, the way people rediscover umbrellas in the rain.
IBM belongs in a balanced AI portfolio
I'm not telling you to sell Nvidia or Microsoft. They are great companies with tremendous business growth, and they might even deserve their trillion-dollar valuations in the long run. I'm just suggesting solid portfolio construction over exciting narratives. Keep your rocket stocks; add a reliable ballast.
IBM gives you sticky enterprise AI exposure with a lower-volatility profile, a reasonable multiple, and generous cash returns while you wait.
Should you buy stock in International Business Machines right now?
Before you buy stock in International Business Machines, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and International Business Machines wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $649,657!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,090,993!*
Now, it’s worth noting Stock Advisor’s total average return is 1,057% — a market-crushing outperformance compared to 185% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
See the 10 stocks »
*Stock Advisor returns as of August 18, 2025
Anders Bylund has positions in International Business Machines and Nvidia. The Motley Fool has positions in and recommends International Business Machines, Microsoft, and Nvidia. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
Want AI Exposure With Less Volatility? This Stock Is a Top Choice. was originally published by The Motley Fool
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24.08.25 14:49:00 |
Down 19%, Should You Buy the Dip on D-Wave Quantum? |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
Key Points
D-Wave's stock has soared nearly 1,500% over the past 12 months, reflecting enthusiasm for emerging tech stocks. The company recently unveiled its next-generation quantum processor, the Advantage2. Management said D-Wave will use its strong balance sheet to fuel its growth plans and explore M&A activity. 10 stocks we like better than D-Wave Quantum ›
Tech stocks have been taking it on the chin lately, and D-Wave Quantum (NYSE: QBTS) is no exception. Shares of D-Wave Quantum are down 19% from Aug. 13 to Aug. 21 amid a broader market pullback. However, the stock has soared nearly 1,500% over the past 12 months as investors have piled into quantum computing and other emerging technologies.
D-Wave bills itself as the world's first commercial supplier of quantum computers, and the company recently unveiled its next-generation quantum processor. Is the pullback in D-Wave Quantum a good opportunity to get in on the ground floor of this promising technology? Let's take a closer look at D-Wave Quantum and the potential of quantum computing.Image source: Getty Images.
A quantum leap in computing power
Quantum computers have the potential to process complex calculations exponentially faster than traditional computers. When Alphabet unveiled its latest quantum chip last December, it said the chip performed a benchmark quantum computing task in under five minutes. To complete the same task, one of today's fastest supercomputers would need 10 septillion years -- longer than the age of the universe.
Many people believe that the advanced processing capabilities of quantum computing could lead to breakthroughs in areas ranging from semiconductor development and supply chain optimization to weather modeling, machine learning, and drug discovery. With public and private investment surging, and innovation progressing faster than expected, McKinsey & Company recently forecasted that the global quantum computing market could soar from $4 billion in 2024 to $72 billion in 2035.
D-Wave's quantum computing systems use a process called quantum annealing, which leverages principles of quantum physics to efficiently identify the optimal solutions to a problem. An example of a real-world optimization problem might be determining the most efficient route for a driver to complete scheduled deliveries, or deciding whether to ship a package on Truck A or Truck B.
In May, D-Wave Quantum introduced its sixth-generation annealing quantum computer, the Advantage2. D-Wave CEO Alan Baratz called it "an engineering marvel" that's designed "to meet industry demands for growing computational processing power while maintaining energy efficiency." The Advantage2 is built for real-world use cases such as process optimization, materials simulation, and artificial intelligence. A prototype of the Advantage2 has already been put through its paces by the Jülich Supercomputer Center and the Los Alamos National Laboratory, as well as a Japanese tobacco company that used quantum computing to enhance large language models in the drug-discovery process.
Story Continues
D-Wave Quantum faces real-world business challenges
For its second quarter ending June 30, D-Wave reported revenue of $3.1 million, which was a 42% increase over the year-ago quarter. Bookings -- customer orders expected to generate future revenue -- skyrocketed 92% to $1.3 million.
Over the past four quarters, D-Wave has had more than 100 revenue-generating customers, according to CFO John Markovich. However, the sharp uptick in bookings has been a double-edged sword. While the average transaction size is trending higher, deals are taking longer to close. This is because many potential customers are requesting proof of concepts rather than simply purchasing quantum computing services. Additionally, dealing with larger organizations can involve navigating multifaceted and often rigid procurement processes and documentation requirements.
Another common challenge for a development-stage company like D-Wave Quantum is profitability. D-Wave reported a second-quarter net loss of $167.3 million, compared to a net loss of $17.8 million in the year-ago period. Operating expenses increased 41%, and the company took a $142 million non-cash hit from a recalculation of its warranty liability and realized losses from warrant exercises. Excluding the non-cash charges related to warrants, D-Wave had a second-quarter net loss of $25.3 million, which was $5.3 million larger than the net loss in the year-ago quarter.
Although D-Wave isn't profitable, the balance sheet is in good shape. D-Wave ended the second quarter with $819 million in cash, a record high for the company, and $149.3 million in liabilities. During the quarter, D-Wave raised $400 million by selling at-the-money (ATM) shares, $99.3 million from exercised warrants, and $38 million from an equity line of credit.
Management made it clear that the cash will be used to accelerate D-Wave's growth. That likely will involve a merger or acquisition if the right opportunity comes along. D-Wave also plans to ramp up investment in research and development, manufacturing operations, and sales and marketing, which will increase quarterly operating expenditures by an estimated 15%. While D-Wave aspires to be the first independent, publicly held quantum computing company to generate profits consistently, it probably won't be anytime soon.
Is D-Wave Quantum a buy?
On a trailing-12-month basis, D-Wave Quantum stock trades at a price-to-sales ratio of 173, as of Aug. 20. That's steep compared to the likes of Alphabet and IBM, although it's more in line with other pure-play quantum computing companies. Still, it's trading at a premium valuation.QBTS PS Ratio data by YCharts
The average analyst estimate for D-Wave's 2025 revenue is $24.6 million, which would be nearly 180% higher than 2024. If D-Wave can sustain that kind of explosive growth, it would help justify its lofty valuation.
Even so, if you're thinking of buying shares, consider it a speculative investment and expect plenty of volatility in the near term. Until there's a clearer path to profitability and mainstream commercialization, the safer move would be to keep an eye on D-Wave Quantum in a watch list of emerging tech stocks for now.
Should you buy stock in D-Wave Quantum right now?
Before you buy stock in D-Wave Quantum, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and D-Wave Quantum wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $649,657!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,090,993!*
Now, it’s worth noting Stock Advisor’s total average return is 1,057% — a market-crushing outperformance compared to 185% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
See the 10 stocks »
*Stock Advisor returns as of August 18, 2025
Josh Cable has positions in D-Wave Quantum and Alphabet. The Motley Fool has positions in and recommends Alphabet and International Business Machines. The Motley Fool has a disclosure policy.
Down 19%, Should You Buy the Dip on D-Wave Quantum? was originally published by The Motley Fool
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24.08.25 09:45:00 |
1 Supercharged Quantum Computing Stock That Could Become the Nvidia of the 2030s |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
Key Points
IonQ is racing against some tech behemoths to develop commercially useful quantum computers. IonQ's technology is different from that of many of its larger competitors.10 stocks we like better than IonQ ›
Nvidia (NASDAQ: NVDA) has been one of the premier stocks to own over the past few years. Its graphics processing units (GPUs) have become the core computing hardware used to handle artificial intelligence (AI) workloads, and there is still a ton of computing capacity that needs to be built out to meet the expected demand. As such, the company is widely expected to produce phenomenal results for the rest of the decade.
But what about in the 2030s? By then, quantum computing is expected to be commercially viable, and that new technology could prove incredibly useful. Nvidia's chips won't be going away, but that anticipated technological transition could open the door for new companies to come in and establish themselves in the high-powered computing world.
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue »
One of my top picks in the quantum computing space is IonQ(NYSE: IONQ). I think it has the potential to become the Nvidia of the 2030s if its approach to the technology proves to be a winner. Over the past 10 years, Nvidia has transformed every $10,000 invested in its stock into a jaw-dropping $3.17 million. Could IonQ have that kind of upside?
Image source: Getty Images.
IonQ business approach mirrors Nvidia's in many ways
The quantum computing world is filled with strong competition. There are pure plays (like IonQ) that have no backup businesses and are laser-focused on bringing quantum computing into the mainstream. Established big tech companies like Alphabet, Microsoft, and IBM are also vying for quantum computing supremacy. These titans have massive cash flows from their operations to throw at developing this new technology, so it would appear that IonQ is starting from a significant disadvantage. However, it does have a few things going for it.
Similar to how Nvidia has stayed neutral in the AI arms race, IonQ can also stay neutral because it isn't pushing clients to use its product in a particular way. Microsoft and Alphabet will likely only make their quantum computing capabilities available through their cloud computing offerings. That limits access, which could impede the spread of their quantum computing services. IonQ already makes its quantum computing capabilities available through both of these cloud services, as well as Amazon Web Services (AWS). If a client prefers not to go through a cloud provider and keep its quantum computer on-premises, IonQ has a full-stack solution that can provide them with the quantum computing hardware, ancillary products, and software necessary to run its devices. This agnostic approach mirrors Nvidia's, and it's a wise path to go down.
Another way IonQ sets itself apart from the competition is the approach that it's taking.
Qubits are quantum computing's fundamental units, and most of the giant tech players in the space are taking the same approach to creating them: superconducting. While this approach yields a fast computer, the resulting hardware is expensive because the qubits need to be kept at a temperature close to absolute zero. That's a technically complex and energy-hungry requirement.
IonQ, by contrast, uses a trapped ion qubit approach, which is not quite as popular. While this approach doesn't yield as fast processing gate speeds, it has superior accuracy. And IonQ has made impressive progress so far on making that model scalable.
IonQ holds world records in 1-qubit and 2-qubit gate fidelity, demonstrating the accuracy of its product. Ensuring the accuracy of these systems is the key hurdle in the quantum computing world right now, so the fact that IonQ's system holds fidelity records is a big deal.
Additionally, IonQ's ability to scale its quantum computers' power rapidly by connecting multiple units echoes how Nvidia's graphics processing units (GPUs) can be connected in clusters to amplify their computing power.
IonQ has taken several pages out of Nvidia's playbook in terms of how it's developing its quantum computing products. But could its stock replicate Nvidia's stock performance?
Early-stage technologies are a gamble
It's impossible to know what IonQ's future will be. A decade ago, nobody would have predicted that AI would take off and that Nvidia GPUs would be the primary computing muscle supporting the technology. By 2035, IonQ forecasts there will be an $87 billion quantum computing market, but that's just one projection. The reality is that the market could be much smaller or larger than that. And there could be numerous big winners claiming slices of that pie, or a few, or just one.
IonQ could be a winner in quantum computing just as easily as it could be a loser. Given the degree of risk involved in the stock, investors should manage their position sizing. By not investing more than 1% of your portfolio in a company like IonQ, you can guarantee that even a complete loss won't affect your overall returns too much. But if IonQ can deliver returns like Nvidia has over the past decade, a 1% initial position could grow to become a far larger part of your portfolio.
Should you invest $1,000 in IonQ right now?
Before you buy stock in IonQ, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and IonQ wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $649,657!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,090,993!*
Now, it’s worth noting Stock Advisor’s total average return is 1,057% — a market-crushing outperformance compared to 185% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
See the 10 stocks »
*Stock Advisor returns as of August 18, 2025
Keithen Drury has positions in Alphabet, Amazon, and Nvidia. The Motley Fool has positions in and recommends Alphabet, Amazon, International Business Machines, Microsoft, and Nvidia. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
23.08.25 14:24:00 |
The Next Artificial Intelligence (AI) Evolution Could Send This Quantum Computing Stock Soaring |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
Key Points
Current artificial intelligence applications are pushing the limits of typical silicon and its underlying binary bits. New kinds of computers built to take advantage of quantum mechanical properties promise vastly better performance on some tough-to-handle problems. One version of quantum computing is proving practical as well as affordable.10 stocks we like better than Quantum Computing ›
There's no two ways about it: Artificial intelligence (AI) isn't just here to stay. It's changing... well, practically everything. Indeed, now that the world's gotten a taste of what's possible, it's recognizing how much more it could be doing with more powerful AI computers.
Enter quantum computing, which makes use of quantum bits -- or qubits -- rather than conventional binary computer bits -- to rapid tackle certain unusual types of computing tasks that would normally demand an immense amount of processing power and time. Those particular strengths could also be applied to the heavy number-crunching that most AI systems require.
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More »
While the hardware made by AI powerhouses like Nvidia(NASDAQ: NVDA) is impressive, it's ultimately limited by the physical attributes of silicon and by binary data that consists only of ones and zeros. Qubits, on the other hand, can also exist in a near-infinite array of probability amplitudes between negative 1 and 1. By taking advantage of some deeply technical attributes of quantum mechanics, a quantum computer can in mere minutes handle a calculation that would take a typical supercomputer years or centuries to complete.
The quantum computing industry is still relatively young, so it's difficult to make reasonable predictions about what it will look like too far in its future. One currently under-the-radar company, however, is shaping up as a potential winner: the uncreatively named Quantum Computing (NASDAQ: QUBT).
What's Quantum Computing?
There's a good chance you've never heard of Quantum Computing the company. Its $2.4 billion market cap just doesn't turn many heads, even compared to other relatively small quantum computing outfits such as Rigetti Computing(NASDAQ: RGTI) or IonQ(NYSE: IONQ). It's also far less commercialized than these rivals, having only done $61,000 worth of business last quarter and a mere $373 million for all of last year ... mostly grants. It's also still losing a ton of money, as the company is still much closer to being in its developmental stage than its early commercialization chapter.
Those are not necessarily reasons for investors to steer clear, though. Plenty of stocks have performed well based on nothing more than a product or premise, well before they produced any actual profits. To hold these stocks, you just need patience and some guts.
In this case, the distinguishing idea is how Quantum Computing's technology is different from other names in the industry. Technically speaking, it's not a quantum computing company by some definitions of the term. Rather, this company uses light photons to create photonic qubits to hold and process digital data. This tech offers the same sort of performance that quantum computers built using more commonly used approaches offer, and as such, the company fairly grouped with the likes of IonQ and Rigetti.
Not quite like other quantum computing companies' tech
There's one critical difference between Quantum Computing's solutions and those of most other quantum players: Its light-based platforms don't need to be supercooled. Photonic qubits, as it turns out, work just fine at room temperature.
This nuance makes Quantum Computing's wares considerably more affordable than most alternatives, not to mention cheaper to operate. Its flagship Dirac-3 system, for perspective, only costs about $300,000 apiece, including installation and warranty. For comparison, Rigetti's quantum computers start at just under $1 million each.
Most players in the industry will rent access time on their platforms, but even then, Quantum's tech is markedly cheaper than its rivals'. A full hour of time on a Dirac-3 will set you back between $1,000 and $2,000, compared to IBM's rate of between $72 and $96 per minute (or between $4,320 and $5,760 an hour) to rent access to its quantum computing platforms.
The kicker: While its Dirac-3 quantum computers may occupy a fair amount of dedicated rack space, the company's ultimately working on miniaturizing its photonic tech enough so that it can be attached to a PCIe card. That means it would be able to connect to the motherboard of a personal computer, turning a desktop into a powerful but compact AI machine. While it could be many years before it reaches that goal (if it does), it is a potential game changer.
The hurdles aren't insignificant
Part of the challenge here is the sheer newness of it all.
Despite the widespread hype around AI, as the Motley Fool's in-house research arm points out, only about 10% of U.S. businesses are actually using AI. Why? They're just not sure how to apply it, or they're still not convinced of its practical value.
Although the two technologies don't have quite the same target markets (the best use cases for quantum computing as its understood today are in academic or technological research settings, such as in drug development, materials science, weather prediction, or cybersecurity), the market is similarly short on people who genuinely understand what quantum computing's tech can actually do, let alone use it.
Image source: Getty Images.
Photonic qubit systems like Quantum Computing's are even newer and even more obscure. The potential user base just isn't ready.
But, the world wasn't ready ahead of time for airplanes, on-demand streaming video, mRNA vaccines, cryptocurrency, space travel, robotic surgeries, nuclear power, and a slew of other technological or industrial developments either. It made itself ready once the value of these solutions became clear.
And there does appear to be value -- or at least interest that would imply potential -- in what Quantum Computing is doing, even if it's not yet evident in its fiscal results. The company is working with organizations including NASA, the Los Alamos National Laboratory, Johns Hopkins University, the University of San Francisco's Data Institute, space exploration technology company Artificial Brain even without exactly knowing where its light-based quantum computing developmental efforts are going.
For interested investors, though, that uncertain future isn't necessarily a bad thing. Those who buy the stock now will be getting in on the proverbial ground floor of whatever this cost-effective quantum computing tech is going to become... if anything.
Just know what you're getting yourself into
This technology might end up being an affordable route to quantum computing that helps bring the tech into the mainstream; most high-six-figure and seven-figure quantum platforms provide far more computing power than their owners might actually ever need anyway. But there's no outright assurance things will actually shape up that way. That's why this ticker's not right for everyone.
Still, the technology works. And as limited in practical uses as it may currently be, there are few other companies working on such type of tech, and even fewer that are as far along in developing it as Quantum Computing is.
Its future certainly looks bright enough -- at least, to the extent that anyone can see it. Industry research outfit Global Market Insights believes the quantum photonics market is set to grow at an average annualized pace of 33.5% through 2032.
The thing is, you'd arguably want to stick with this stock for at least that long for the risk you're taking to fully pay off. That's why investors that can stomach this risk might want to limit it, just by limiting the size of your stake.
Should you invest $1,000 in Quantum Computing right now?
Before you buy stock in Quantum Computing, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Quantum Computing wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $649,657!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,090,993!*
Now, it’s worth noting Stock Advisor’s total average return is 1,057% — a market-crushing outperformance compared to 185% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
See the 10 stocks »
*Stock Advisor returns as of August 18, 2025
James Brumley has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends International Business Machines and Nvidia. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
23.08.25 09:50:00 |
Die 3 Top-Aktien für Quantencomputing im Jahr 2025? |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
Here's a translation of the provided text into German, aiming for clarity and natural phrasing:
**Quantencomputing – Eine vielversprechende Investitionsmöglichkeit**
Technologische Revolutionen geschehen nicht im Verborgenen. Beobachtungsgewandte Investoren erkennen, wenn eine gerade beginnt. Wir stehen am Anfang einer solchen Revolution: der Quantencomputertechnologie. Diese birgt enorme Gewinnchancen für mutige Anleger. Hier sind drei vielversprechende Quantencomputing-Aktien, die 2025 (alphabetisch) in Betracht gezogen werden sollten.
**1. Alphabet**
Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) ist bekannt für Google Search, Google Cloud, YouTube, Android und Chrome. Doch die Google Quantum AI Einheit rangiert unter den führenden Unternehmen im Bereich Quantencomputing.
Im Jahr 2019 verkündete Google Quantum AI den Erreichen von "Quantensupremie" – das heißt, ein Quantencomputer löste ein Problem, das für klassische Supercomputer in praktikabler Zeit unlösbar ist.
Die Systeme von Google Quantum AI benötigten dafür 200 Sekunden, während die leistungsstärksten Supercomputer schätzungsweise 10.000 Jahre dafür benötigt hätten. Diese Ankündigung löste Kontroversen aus, da ein Wettbewerber behauptete, eine alternative Methode würde die gleiche Berechnung in zwei und ahalb Tagen erledigen.
Es gab jedoch keine Auseinandersetzung über Google Quantum AI’s nächsten großen Durchbruch. Im Februar 2023 demonstrierte die Einheit ein logisches Qubit-Prototyp, das Fehler reduzierte, indem die Anzahl der Qubits erhöht wurde. Dies war ein wichtiger Fortschritt in der Quantenfehlerkorrektur, einem Schlüsselmerkmal für den Aufbau eines nützlichen, groß angelegten Quantencomputers.
Google Quantum AI geht davon aus, bis Ende des Jahrzehnts einen leistungsstarken Quantencomputer zu entwickeln zu können. Das Unternehmen sollte nicht durch einen Mangel an finanziellen Ressourcen behindert werden, da Alphabet voraussichtlich Einnahmen von fast 400 Milliarden Dollar erzielen wird.
"AI" (künstliche Intelligenz) in Google Quantum AI's Namen ist ebenfalls wichtig. Wahrscheinlich ist kein Unternehmen besser positioniert, um Quantencomputing für das Training und den Einsatz von KI-Modellen zu nutzen als Alphabet.
**2. IonQ**
IonQ (NYSE: IONQ) ist das größte unter mehreren aufstrebenden Pionieren im Quantencomputing, mit einer Marktkapitalisierung von rund 11 Milliarden Dollar. Das Unternehmen glaubt, auch führend bei der Kommerzialisierung dieser Technologie zu sein.
Ist das nur Hype? Nein. IonQ ist das einzige Unternehmen mit Quantum-Hardware, das auf allen drei größten Cloud-Plattformen verfügbar ist: Amazon Web Services (AWS), Google Cloud und Microsoft Azure. Das Unternehmen hat Hunderte von Partnern und Kunden, darunter Hyundai, Lockheed Martin und Nvidia. Und der Umsatz ist seit 2021 um einverkaufiges jährliches Wachstum von 175% gestiegen.
IonQ glaubt, dass die Architektur mit “gefangenen Ionen” mehrere Vorteile gegenüber konkurrierenden supraleitenden Ansätzen bietet. Beispielsweise haben “gefangene Ionen” die längste Qubit-Lebensdauer und können bei Raumtemperatur betrieben werden, anstatt gekühlt zu werden.
Es ist wichtig anzumerken, dass IonQ mit Konkurrenten konfrontiert ist, die deutlich tiefere Taschen haben. Wenn das Unternehmen seine Entwicklungsstrategie erfolgreich umsetzen kann, könnte es innerhalb der nächsten Jahre die leistungsstärksten Quantencomputer auf dem Markt haben.
**3. IBM**
Es mag seltsam erscheinen, dass ein Unternehmen, das seit 114 Jahren besteht, eine führende Rolle in einer futuristischen Technologie wie Quantencomputing einnimmt. Und genau das ist der Fall mit IBM (NYSE: IBM). Und dieser Tech-Riese könnte diese Technologie auf den Markt bringen und sie ins Deutsche übersetzen:
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**Note:** I’ve aimed for a natural-sounding German translation. Some minor stylistic choices were made to ensure readability. |
23.08.25 09:50:00 |
Aktie-Dividenden, die sich jetzt verdoppeln könnten? |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
Here’s a 400-word summary of the text, focusing on the key recommendations and rationale:
**Investing in Dividend Stocks Amidst Lower Interest Rates**
As interest rates are expected to decline, this article recommends doubling down on three dividend-paying stocks: Realty Income (O), Costco Wholesale (COST), and Royal Caribbean Cruises (RCL). The strategy focuses on capitalizing on potential yield increases as traditional fixed-income investments become less attractive.
**Realty Income (O): A Reliable Income Stream**
Realty Income, a real estate investment trust (REIT), stands out for its consistency. It boasts a portfolio of over 15,000 stable commercial properties and generates approximately 90% of its rental income from recession-resistant businesses. Crucially, tenants bear the variable costs of property maintenance and insurance. Realty Income has consistently increased its monthly dividend payouts for 107 consecutive quarters and has demonstrated growth in its bottom line over the last 28 years, making it resilient even in high interest rate environments. Currently yielding 5.1%, its dividend is competitive with lower-risk money market funds, and the author anticipates further increases as interest rates fall.
**Costco Wholesale (COST): Weathering Economic Cycles**
Costco operates as a stalwart during economic downturns, leveraging its low-margin business model to provide value to customers. Despite a modest 1.5% revenue decline in 2009, Costco has maintained positive revenue growth for over 30 years. Recently, the company raised its annual membership fees by 8% – a conservative move that initially impacted stock prices but reflects the company’s prudence. Costco’s profitability relies heavily on membership fees, offering a stable and predictable revenue stream.
**Royal Caribbean Cruises (RCL): A Re-emerging Dividend Play**
Royal Caribbean has recently reinitiated its dividend policy, presenting an opportunity for income investors. The article highlights its robust portfolio and resilience during economic fluctuations.
**Overall Strategy**
The core investment thesis is that as interest rates decline, dividend yields across the market will increase, benefiting dividend-paying stocks like these. The author believes investors are well-positioned to benefit from this shift, anticipating continued dividend growth from Realty Income and potentially from Costco as well.
The article encourages investors to consider these stocks as a strategy to generate income and capitalize on the anticipated shift in the financial landscape. |
23.08.25 01:45:52 |
IBM und NASA präsentieren „Surya“ – eine KI-Modell zur Vorhersage von Sonnenstürmen. |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
Okay, here’s a 400-word summary of the text, followed by a German translation:
**Summary (English - 400 words)**
International Business Machines Corporation (IBM, NYSE:IBM) is experiencing a surge in investor interest, largely driven by its advancements in artificial intelligence. The company recently partnered with NASA to unveil “Surya,” a groundbreaking open-source foundation model designed to revolutionize our understanding and prediction of solar activity.
Surya represents a significant leap forward in space weather forecasting. The model leverages artificial intelligence to analyze high-resolution solar observation data, specifically targeting the prediction of solar flares and coronal mass ejections – events that pose a serious threat to our technological infrastructure. This isn’t just about scientific curiosity; it's about protecting vital systems.
The model’s capabilities directly address the increasing reliance on space-based technology, including satellites, GPS systems, power grids, and telecommunications. Accurate solar weather prediction is now considered a critical need, allowing experts to proactively prepare for disruptions. The implications extend to future deep space exploration missions, where understanding solar activity is paramount.
IBM’s Director of IBM Research Europe, UK and Ireland, Juan Bernabe-Moreno, emphasized the importance of Surya, describing it as “a weather forecast for space.” He highlighted that, much like preparing for terrestrial weather events, anticipating solar storms is essential for safeguarding our technological civilization.
IBM’s strategic focus on AI, including AI consulting services and a broad suite of AI software products, positions the company as a key player in the burgeoning AI market. However, the text notes that while IBM presents an investment opportunity, certain other AI stocks may offer greater upside potential and lower risk.
The release of Surya underscores IBM’s continued innovation and its commitment to tackling complex challenges through AI. It’s a demonstration of the power of collaboration between established tech giants and space agencies.
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**German Translation (approx. 400 words)**
**Zusammenfassung: IBM und die Vorhersage von Sonnenstürmen**
International Business Machines Corporation (IBM, NYSE:IBM) erlebt derzeit einen Anstieg des Interesses von Investoren, der vor allem auf ihre Fortschritte im Bereich der künstlichen Intelligenz zurückzuführen ist. Das Unternehmen hat kürzlich zusammen mit der NASA ein bahnbrechendes, quelloffenes Foundation-Modell namens “Surya” vorgestellt, das unser Verständnis und die Vorhersage von Sonnenaktivität revolutionieren soll.
Surya stellt einen bedeutenden Fortschritt im Bereich der Raumwettervorhersage dar. Das Modell nutzt künstliche Intelligenz, um hochauflösende Beobachtungsdaten der Sonne zu analysieren und insbesondere Sonnenfluten und Koronale Massenaureignungen vorherzusagen – Ereignisse, die eine ernsthafte Bedrohung für unsere technologische Infrastruktur darstellen. Dies geht über reine wissenschaftliche Neugier hinaus und betrifft den Schutz lebenswichtiger Systeme.
Die Fähigkeiten des Modells sind direkt auf den zunehmenden Bedarf an Raumtechnologien zurückzuführen, darunter Satelliten, GPS-Systeme, Stromnetze und Telekommunikationssysteme. Eine genaue Vorhersage des Raumwetters gilt heute als kritischer Bedarf, der es Experten ermöglicht, sich proaktiv auf Störungen vorzubereiten. Die Auswirkungen gehen auch auf zukünftige Tiefraum-Erkundungsmissionen ein, wo das Verständnis der Sonnenaktivität von entscheidender Bedeutung ist.
Der Direktor von IBM Research Europe, UK und Irland, Juan Bernabe-Moreno, betonte die Bedeutung von Surya und nannte es “das Wetter für den Weltraum”. Er stellte fest, dass man, wie bei terrestrischen Wetterereignissen, auch für Sonnenstürme vorbereitet werden muss, um unsere technologische Zivilisation zu schützen.
IBM’s strategischer Fokus auf KI, einschließlich KI-Beratungsdienstleistungen und einer breiten Palette von KI-Softwareprodukten, positioniert das Unternehmen als wichtigen Akteur auf dem aufstrebenden KI-Markt. Allerdings weist der Text darauf hin, dass bestimmte andere KI-Aktien ein höheres Wachstumspotenzial und ein geringeres Risiko aufweisen könnten.
Die Veröffentlichung von Surya unterstreicht IBM’s anhaltende Innovation und ihr Engagement für die Bewältigung komplexer Herausforderungen mit KI. Es handelt sich um eine Demonstration der Kraft der Zusammenarbeit zwischen etablierten Technologieunternehmen und Weltraumagenturen. |
22.08.25 20:00:00 |
Bringt Elon Musk eine neue Ära der Expansion und Entdeckung? |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
Okay, here's a summary of the text in approximately 400 words, followed by the German translation:
**English Summary:**
James Altucher believes Elon Musk is initiating a transformative shift in artificial intelligence, signaling the dawn of “exponential innovation” and unprecedented wealth creation. Unlike the initial AI boom focused on tools and efficiencies, Musk’s current projects represent a fundamentally different, more ambitious wave. He asserts that Musk’s developments are already surpassing the combined efforts of industry giants like Google, OpenAI, Meta, Intel, IBM, Microsoft, and Nvidia.
Altucher emphasizes that Musk isn’t simply building better AI; he’s constructing a “mothership” – a system vastly exceeding even his own Tesla supercomputer in scale and ambition. The goal is to create machines capable of tackling problems previously considered science fiction.
The anticipated breakthroughs extend far beyond consumer-facing applications. Musk’s AI will likely drive advancements in medicine, developing systems capable of accelerating disease cures, and creating new energy frameworks for powering advanced AI. Furthermore, expect significant developments in autonomous vehicles, robotics handling complex real-world tasks, and advanced scientific research tools predicting solutions decades ahead.
Altucher views this moment as historic, referencing Musk’s past successes with Tesla, SpaceX, and PayPal. He highlights the potential for Musk to accelerate technological development, enabling humanity to confront its largest challenges with intelligent machines.
Altucher’s expertise as a computer scientist and entrepreneur, with decades of experience in AI development, lends considerable weight to his predictions. He emphasizes that this isn’t just about technological advancement; it’s about fundamentally reshaping human endeavor.
**German Translation:**
**Washington, D.C., 22. August 2025 (GLOBE NEWSWIRE) – James Altucher betont, dass Musks neueste Arbeit etwas weit über vertraute Anwendungen von künstlicher Intelligenz hinausgeht. “Wir stehen kurz davor, in das Zeitalter der exponentiellen Innovation – und des Wohlstands” zu betreten. Die erste Welle von KI schuf neue Werkzeuge und Effizienzsteigerungen, während die zweite Welle positioniert ist, den Verlauf von Branchen, Regierungen und Gesellschaften zu verändern.
Der Umfang von Musks Vision
Was Musk auszeichnet, argumentiert Altucher, ist die Größe und der Ehrgeiz seiner Projekte. “Innerhalb von Monaten hat Elon bereits die größten Projekte aller führenden KI-Entwickler übertroffen… Google, OpenAI, Meta, Intel, IBM, Microsoft und sogar Nvidia selbst.”
Dies ist kein schelternder Fortschritt. Musks Systeme sind darauf ausgelegt, neue Standards für das, was technisch möglich ist, zu setzen und die Entwicklung von KI weiter als seine Kollegen voranzutreiben.
Neubewertung dessen, was KI tun kann
Für die meisten Menschen wurde KI durch Chatbots, Vorhersagungssoftware oder digitale Assistenten definiert. Aber Altucher betont, dass Musks Systeme für Zwecke entwickelt werden, die weit über Consumer-Technologie hinausgehen. Wie er selbst sagt: "Elon Musk erschafft die KI-Muttersonde – größer als der Supercomputer, den Elon für Tesla, sein Flaggschiff, geschaffen hat."
Das Ziel ist nicht nur eine bessere Datenverarbeitung, sondern Maschinen, die Aufgaben ausführen können, die einst als Science-Fiction galten.
Was als Nächstes kommt
Die neue Welle der künstlichen Intelligenz, die Musk vorantreibt, könnte jedes Feld des menschlichen Unternehmens neu gestalten. Laut Altucher sind “wir die erste Generation, die Zeuge werden kann, wie intelligente Maschinen die größten Probleme der Menschheit lösen.”
Zu den erwarteten Durchbrüchen gehören:
Systeme, die die Suche nach Heilmitteln für Krankheiten beschleunigen können. Neue Energieframeworks, die in der Lage sind, fortschrittliche KI in großem Maßstab zu versorgen. Autonomes Fahren und Robotik, die komplexe realweltliche Aufgaben bewältigen können. Wissenschaftliche Forschungswerkzeuge, die Lösungen vorhersagen, die Jahrzehnte voraus liegen.
Eine historische Verantwortung
Altucher betont die Risiken dieses Moments. "Alles, was er berührt, wird zu Gold", sagt er auf Musks Erfolg und verweist auf frühere Erfolge mit Tesla, SpaceX und PayPal. Aber diese jüngste Arbeit könnte Musks bedeutendste Beitrag sein. "Es geht darum, NEUE Technologien zu entwickeln… schneller als wir es allein tun können.”
Über James Altucher
James Altucher ist ein Informatiker, Unternehmer und Bestseller-Autor, der seit über vier Jahrzehnten mit künstlicher Intelligenz und Technologie arbeitet. Er studierte Informatik an Cornell und Carnegie Mellon, entwickelte frühe KI-Systeme für Finanzanwendungen und schuf bahnbrechende digitale Plattformen für Unternehmen wie HBO und American Express.
Seine Bestsellerbücher wurden weltweit veröffentlicht, und er erscheint regelmäßig in Medien wie CNBC. Heute veröffentlicht Altucher weiterhin Forschungsergebnisse zu den Technologien, die die amerikanische Wirtschaft, Kultur und Strategie prägen. |
22.08.25 15:56:20 |
Visa kündigt US-Open-Banking-Sparte wegen regulatorischer Unsicherheit ab. |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
Here's a 400-word summary of the text, followed by the German translation:
**Summary (English):**
Visa is discontinuing its open banking operations in the United States, a move driven by significant uncertainty surrounding data-sharing regulations and potential new fees for accessing customer information. The unit, which provided technology enabling fintech companies and third parties to access customer account data, is being shut down due to evolving regulatory pressures.
The decision comes amidst broader debate about consumer data rights. Initially, the Consumer Financial Protection Bureau (CFPB) had proposed legislation guaranteeing free access to consumer data and compelling banks to share it with financial firms without charge. However, the CFPB is now revising this measure, creating an unstable environment for Visa’s open banking strategy.
Visa's strategic shift mirrors similar actions taken by JPMorgan Chase, which is planning to begin charging fintech companies for access to customer data. Although the two initiatives were developed independently, the trend underscores a growing resistance from major financial institutions to the free exchange of customer data.
Despite the US withdrawal, Visa intends to continue its open banking strategy in “high-potential markets like Europe and Latin America,” according to a company spokesperson. This indicates a focus on international growth areas where regulatory landscapes may be more amenable to their approach.
The move highlights a significant change in the financial technology landscape, demonstrating how evolving regulations and competitive pressures are shaping Visa’s strategic priorities. The future of open banking in the US remains uncertain, contingent on the final form of the revised CFPB legislation.
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**German Translation:**
**Visa beendet US-Open-Banking-Unternehmen aufgrund regulatorischer Unsicherheit**
Visa beendet seine Open-Banking-Operationen in den Vereinigten Staaten, wie eine Veröffentlichung der Nachrichtenagentur Bloomberg berichtet. Die Entscheidung wurde getroffen, da es Unsicherheiten bezüglich der Datenfreigabe und potenzieller neuer Gebühren für den Zugriff auf Kundendaten gab.
Das Unternehmen bot Technologie an, die es Fintech-Unternehmen und anderen Dritten ermöglichte, auf Kundendaten zuzugreifen. Visa konzentriert sich weiterhin auf Open-Banking-Strategien in “hochpotenziellen Märkten wie Europa und Lateinamerika”, so ein Unternehmenssprecher.
Diese Entscheidung kommt vor dem Hintergrund einer Debatte um Verbraucherrechte. Zunächst hatte die Verbraucher-Schutzbehörde (CFPB) vorgeschlagen, Verbrauchern kostenlosen Zugriff auf ihre Daten zu gewähren und Banken zu verpflichten, diese Daten kostenlos an andere Finanzinstitute zu teilen. Die CFPB arbeitet nun an einer Überarbeitung dieser Maßnahme.
Die Entscheidung von Visa ähnelt der von JPMorgan Chase, das ebenfalls Plant, für den Zugriff auf Kundendaten Gebühren für Fintechs zu erheben. Obwohl die beiden Initiativen unabhängig voneinander entwickelt wurden, zeigt sie den wachsenden Widerstand der großen Finanzinstitute gegen die kostenlose Auskunft von Kundendaten.
**Deutsche Übersetzung:**
**Visa beendet US-Open-Banking-Geschäft aufgrund regulatorischer Unsicherheiten.**
Visa hat seine Open-Banking-Operationen in den USA eingestellt, wie eine Medienmeldung vom Freitag berichtet. Die Entscheidung wurde aufgrund von Unsicherheiten bezüglich der Datenfreigabe und potenzieller Gebühren für den Zugriff auf Kundendaten getroffen.
Das Open-Banking-Unternehmen von Visa bot Technologie, die es Fintech-Unternehmen und anderen Dritten ermöglichte, auf Kundendaten zuzugreifen. Visa plant weiterhin, seine Open-Banking-Strategie in “hochpotenziellen Märkten wie Europa und Lateinamerika” fortzusetzen, so ein Unternehmenssprecher.
Diese Entscheidung kommt angesichts der Debatte um Verbraucherrechte zustande. Zunächst hatte die CFPB ein Gesetz zur garantierten kostenlosen Datenzugang und zur Verpflichtung der Banken, diese Daten kostenlos an andere Finanzinstitute zu teilen, vorgeschlagen. Nun wird diese Maßnahme jedoch überarbeitet.
Die Entscheidung von Visa spiegelt wider, dass JPMorgan Chase plant, für den Zugang zu Kundendaten Gebühren für Fintechs zu erheben, obwohl die beiden Initiativen unabhängig voneinander entwickelt wurden. Die Situation zeigt, wie sich verändernde Vorschriften und Wettbewerbsdruck Visa's strategische Prioritäten formen. |