Why Wedbush Thinks Norway Could Be Key for This Quantum Computing Stock -- and the Entire Industry

The world's largest sovereign wealth fund has placed its chips on quantum computing, and analysts think it could change everything for the industry. Norges Bank, which manages roughly $2 trillion for Norway, disclosed positions worth $200 million in IonQ (IONQ), $39 million in Rigetti Computing (RGTI), and $4 million in D-Wave Quantum (QBTS) in its recent 13-F filing for the fourth quarter, according to Wedbush Securities.

These positions might seem small compared to Norges Bank's total assets. However, Wedbush analyst Antoine Legault views the fund as a "sophisticated" asset manager making a significant bet on the long-term potential of quantum computing.