That puts them in precarious positions, where they need to raise cash to continue their research. But a failure to show results jeopardizes their ability to raise cash. One disappointing development and they could find themselves closer to the end of their cash runways than expected.

Microsoft and Google have made breakthroughs in quantum computing, a technology that could revolutionize drug discovery and other fields.

Investing in innovative companies is a proven strategy for generating outsized gains over time. Generally, companies that invest in research and development are positioned to benefit from multiple competitive moats and a first-mover advantage.

This is the promise of quantum computing, a revolutionary technology that harnesses the strange properties of subatomic particles to process information in entirely new ways. Unlike traditional computers that use bits (1s and 0s),