Wall Street Split on Quantum Computing Bet

• Goldman Sachs disbanded its quantum computing team after finding algorithms would take 'millions of years' to solve problems, remaining on the sidelines.
• JPMorgan has doubled down, employing over 50 mathematicians, physicists, and computer scientists to explore quantum applications in portfolio optimization, cryptography, and machine learning.
• The technology is considered decades away from scale and profitability, with most banks staying cautious due to the long timeline for practical financial applications.

Wall Street is split on its quantum computing bet. Goldman Sachs pulled back its efforts, citing algorithms requiring 'millions of years' to solve problems, while JPMorgan is doubling down with a dedicated team of 50+ experts. Most banks remain cautious, recognizing the technology is decades away from delivering practical, profitable solutions in finance.