The Next Great Bubble: Riding Quantum, AI, and Crypto Stocks

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2 days ago

"When I see a bubble forming, I rush in to buy, adding fuel to the fire."— George Soros
Bubbles are not just market anomalies, they are often features of major eras of innovation and expansion. From railroads to dot-coms and digital assets, investors have repeatedly underestimated how far narrative-driven excess can go. Today, we are in the early innings of what may become the next great bubble, driven by a convergence of artificial intelligence, quantum computing, and crypto-financial systems.
Each of these technologies is transformational on its own. Together, they are catalyzing a new wave of speculative enthusiasm, and importantly, real capital investment across both public and private markets. The last couple of years, broad markets have performed very well led by a surge in thematic stocks tied to AI infrastructure and quantum computing, while tokenized financial rails have begun to proliferate more recently. Like in the late 1990s, the rally may seem unsustainable, and it likely will be, eventually. But history shows that there may be explosive gains in the years ahead for those who are well positioned.
This article explores what a full-blown speculative peak could look like over the next couple of years, and how much upside may still lie ahead if the current bull run evolves into a true mania. We'll examine lessons from past bubbles, outline the broader themes driving this one, and highlight several individual stocks that could become major winners along the way.
Artificial Intelligence: The Infrastructure Behind Superintelligence
AI is already reshaping daily life, but we may only be scratching the surface of what's coming. The exponential growth in large language model (LLM) usage, combined with an arms race in data center construction, is driving massive demand for compute infrastructure.
The growth in LLM usage across both consumer and enterprise applications has been nothing short of extraordinary. After becoming the fastest app in history to reach 100 million users, OpenAI's ChatGPT has continued its explosive ascent, now estimated to have over 1 billion weekly active users. The company is reportedly generating more than $10 billion in annual revenue, and while it's the most prominent player, it's far from alone. Competitors like Anthropic's Claude, Google's Gemini, and Meta's Llama are also accelerating rapidly, contributing to a broader AI boom.
Yet the infrastructure behind these systems may be the most compelling part of the story. Meta CEO Mark Zuckerberg recently revealed plans for a multi-gigawatt data center, code-named Prometheus, describing it as a facility that could ultimately match the physical footprint of Manhattan. The scale of this ambition highlights the extraordinary capital intensity required to push the frontier of artificial intelligence.
Global hyperscaler spending on data infrastructure is expected to reach nearly $400 billion this year, fueled not only by commercial demand but by geopolitical competition. Nations are racing to develop sovereign AI capabilities, with some viewing superintelligence as a matter of national security. Whoever controls the most advanced AI infrastructure could shape the future, not just of industries, but of economies, governance, and global power structures.
What I'm trying to say is this: a truly historic amount of capital is gushing into this industry as the world's leading technologists attempt to build something akin to a digital god. Will they succeed? I honestly don't know. But what I do know is that the sheer scale of spending, investment, and adoption, from the world's wealthiest corporations and most powerful governments, is likely to drive the stock market significantly higher, especially for companies positioned in the right sectors.
Key stocks positioned to benefit from this wave include:
Nvidia NVDA – The dominant AI hardware provider powering the entire LLM and inference boom
Palantir Technologies PLTR – Enterprise-level AI decision-making systems used by governments and defense
Vertiv (VRT) – A critical infrastructure company providing thermal and power solutions to data centers
Microsoft (MSFT), Meta (META) and Alphabet (GOOGL) – AI hyperscaler titans building and scaling LLM platforms and integrating intelligently into core businesses
Constellation Energy (CEG) – Benefiting from the enormous power demands of next-gen AI facilities
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Quantum Computing: From Hype to Real-World Impact
Quantum computing has quietly taken a leap forward in the last year. What was once seen as far-off science fiction is now entering its commercialization phase, with breakthroughs in qubit coherence, quantum error correction, and hybrid classical-quantum systems accelerating the timeline.
While large-scale universal quantum computing is still several years away, practical use cases in logistics optimization, pharma, and material science are beginning to emerge. As these systems are paired with classical AI infrastructure, we may see the rise of hybrid models that radically outperform current methods.
Most notably, over the past several months, quantum computing stocks have gone vertical. While skeptics point to the still-limited revenue and earnings across the sector, early commercial traction is beginning to materialize, and it appears the market is starting to price in the tremendous long-term potential. One thing is clear: capital is flowing aggressively into the industry.
Promising public companies in the space include:
IonQ IONQ – The current leader among quantum computing pure-plays, with real commercial traction
Rigetti Computing (RGTI) – More speculative, but heavily shorted and capable of meme-stock behavior
D-Wave Quantum QBTS – A legacy player focused on annealing-based quantum systems
Quantum Computing Inc. (QUBT) – Ultra-speculative, with potential to catch fire in a retail bubble
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Bitcoin, Crypto, and Digital Assets: The Financial Layer of the New Era
Bitcoin has reclaimed its position as the best-performing macro asset, outpacing gold, stocks, and real estate by a wide margin. While its role as a hedge against fiat instability and global uncertainty can be difficult to quantify, it has clearly proven effective as a portfolio diversifier, and increasingly serves as a release valve for excess liquidity in the financial system.
The rise of tokenization and stablecoins is creating a new wave of speculative energy — not just in cryptocurrencies themselves, but in how traders and investors actually interface with the market. Tokenization refers to the process of putting real-world assets (like stocks, bonds, or even real estate) onto blockchain rails, allowing for 24/7 trading, fractional ownership, instant settlement, and increased global access.
Meanwhile, stablecoins are offering a new form of liquidity for investors, something between a money market account and pure cash. This new form of liquidity lubricates financial markets broadly as it enables real-time settlement, faster capital redeployment, and round-the-clock market participation.
Key stocks for exposure to this theme include:
Coinbase COIN – The leading U.S.-listed crypto exchange and a beneficiary of retail and institutional flows and stablecoins
Robinhood HOOD – The main point of access for speculative activites from retail as well as the first to introduce tokenization.
MicroStrategy (MSTR) – Effectively a Bitcoin ETF with software revenue as a bonus
Bitcoin ETF (IBIT)– Still the king, and still the most resilient asset in speculative cycles
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Buying Stocks With Eyes Wide Open
If this is the beginning of the next great bubble, it's possible to imagine just how far markets could run. While it's impossible to predict exact outcomes, rough estimates suggest that the Nasdaq 100 could double, the S&P 500 could push toward 10,000, and Bitcoin might rally to $300,000 or more over the next couple of years. These are, of course, just rough estimates, but they reflect the type of moves we've seen in past bubbles when narratives take hold and capital flows turn parabolic.
Yes, it may all come crashing down someday. But in the meantime, the market may reward those who are early, thoughtful, and positioned for narrative-driven upside. Just like Soros, sometimes the best trade is to lean into the mania and exit before the music stops.
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NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Palantir Technologies Inc. (PLTR) : Free Stock Analysis Report
Coinbase Global, Inc. (COIN) : Free Stock Analysis Report
Robinhood Markets, Inc. (HOOD) : Free Stock Analysis Report
IonQ, Inc. (IONQ) : Free Stock Analysis Report
D-Wave Quantum Inc. (QBTS) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
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