Latest news with #PeterChapman
Yahoo
01-08-2025
- Politics
- Yahoo
Former Conservative MSP charges taxpayer £14,400 a year for living in colleague's Edinburgh flat
A former Conservative MSP made over £40,000 from the Holyrood expenses system by renting his Edinburgh flat to a colleague. Peter Chapman is receiving £1,200 a month from the taxpayer so that serving Tory MSP, Douglas Lumsden, can live in his property, reports The Daily Record. MSPs who live far away from Edinburgh are able to rent accommodation in the Capital to help carry out their parliamentary duties. READ MORE: Edinburgh GP diagnosed with cancer after friend noticed he was sitting 'squint' on bike READ MORE: Concerns raised after Edinburgh Spiegeltent put up without planning permission The system has been tightened over the last twenty years to protect Holyrood's reputation, MSPs cannot rent from a close relative or a fellow member of the Parliament, but there is no bar on former MSPs being landlords. According to the expenses system, which is available online, Lumsden's rent costs were £12,100 in 2021/22, £13,900 twelve months later and £14,400 in 2023/24. The 'payee' for the £40,400 of claims in this period is 'Peter and Edith Chapman'. Peter Chapman, who owns a flat around fifteen minutes from the parliament, receives the rent, not Lumsden. Chapman was a Tory MSP for the North East between 2016 and 2021 before he stood down. Sign up for Edinburgh Live newsletters for more headlines straight to your inbox He is now a councillor in Aberdeenshire and declares rent from an Edinburgh flat on his register of interest. Lumsden, a former councillor, has been a Tory MSP on the North East list since 2021. Former Labour MSP Neil Findlay said of renting from ex MSPs: "This practice should be reviewed. The allowances that are paid to allow MSPs whose home is far from Holyrood to live in Edinburgh during the week are funded by taxpayers' money." Lumsden was criticised earlier this year after he tabled nearly 1,000 written questions to the parliament in a single month. The question blitz was estimated to have cost the taxpayer £100,000 and he was urged to pay back the money. Some of the questions were about flagpoles, bees and jars of honey in the Holyrood shop. He denied using AI for the bombardment. Former Labour MSP Neil Findlay said of renting from ex MSPs: "This practice should be reviewed. The allowances that are paid to allow MSPs whose home is far from Holyrood to live in Edinburgh during the week are funded by taxpayers' money." Lumsden was criticised earlier this year after he tabled nearly 1,000 written questions to the parliament in a single month. The question blitz was estimated to have cost the taxpayer £100,000 and he was urged to pay back the money. Some of the questions were about flagpoles, bees and jars of honey in the Holyrood shop. He denied using AI for the bombardment. When he was an MSP, Chapman quit his front bench role after lobbying councillors over a planning application he had a financial interest in. He admitted at the time he had been 'foolish' but he was cleared of breaching Holyrood's code of conduct. A Scottish Conservative spokesperson said: 'These claims were declared properly and within the rules.' Scottish Parliament spokesperson said: 'The Scottish Parliament's rules on Edinburgh accommodation for MSPs are already robust and take account of an independent review to ensure public confidence. 'At the end of each five-year session, the SPCB conducts its own review of the Members' expenses scheme to ensure it remains fit for purpose. That review provides an opportunity to reflect on whether any further changes are appropriate.' Chapman and Lumsden were contacted. Join Edinburgh Live's Whatsapp Community here and get the latest news sent straight to your messages.
Daily Record
01-08-2025
- Politics
- Daily Record
Tory MSP charges taxpayer £14,400 a year for living in former colleague's Edinburgh flat
EXCLUSIVE: Douglas Lumsden is living in ex MSP Peter Chapman's property. A former Tory MSP has made over £40,000 from the Holyrood expenses system by renting his Edinburgh flat to a Conservative colleague. Peter Chapman is receiving £1,200 a month from the taxpayer so that serving Tory MSP Douglas Lumsden can live in his property. MSPs who live far from Edinburgh are able to rent accommodation in the Capital to help carry out their parliamentary duties. But the system has been tightened over the last twenty years to protect Holyrood 's reputation. MSPs cannot rent from a close relative or a fellow member of the Parliament, but there is no bar on former MSPs being landlords. According to the online expenses system, which is available online, Lumsden 's rent costs were £12,100 in 2021/22, £13,900 twelve months later and £14,400 in 2023/24. The 'payee' for the £40,400 of claims in this period is 'Peter and Edith Chapman'. Peter Chapman, who owns a flat around fifteen minutes from the parliament, receives the rent, not Lumsden. Chapman was a Tory MSP for the North East between 2016 and 2021 before he stood down. He is now a councillor in Aberdeenshire and declares rent from an Edinburgh flat on his register of interest. Lumsden, a former councillor, has been a Tory MSP on the North East list since 2021. Former Labour MSP Neil Findlay said of renting from ex MSPs: "This practice should be reviewed. The allowances that are paid to allow MSPs whose home is far from Holyrood to live in Edinburgh during the week are funded by taxpayers' money." Lumsden was criticised earlier this year after he tabled nearly 1,000 written questions to the parliament in a single month. The question blitz was estimated to have cost the taxpayer £100,000 and he was urged to pay back the money. Some of the questions were about flagpoles, bees and jars of honey in the Holyrood shop. He denied using AI for the bombardment. When he was an MSP, Chapman quit his front bench role after lobbying councillors over a planning application he had a financial interest in. He admitted at the time he had been 'foolish' but he was cleared of breaching Holyrood 's code of conduct. A Scottish Conservative spokesperson said: 'These claims were declared properly and within the rules.' A Scottish Parliament spokesperson said: 'The Scottish Parliament's rules on Edinburgh accommodation for MSPs are already robust and take account of an independent review to ensure public confidence. 'At the end of each five-year session, the SPCB conducts its own review of the Members' expenses scheme to ensure it remains fit for purpose. That review provides an opportunity to reflect on whether any further changes are appropriate.'
Yahoo
25-07-2025
- Business
- Yahoo
Better Quantum Computing Stock: Nvidia vs. IonQ
Key Points The power of quantum computers holds the promise of elevating the computing industry to new heights. Nvidia and IonQ are working on quantum technology to capture the opportunity in this nascent field. Nvidia is developing quantum chips while IonQ aims to build the internet of the future. 10 stocks we like better than Nvidia › The artificial intelligence market has seen explosive growth over the last few years, and the next sector to follow in AI's footsteps could be quantum computers. The budding tech can perform calculations beyond the capabilities of today's supercomputers, promising to supercharge AI and the entire computing industry. Although Nvidia (NASDAQ: NVDA) is often associated with artificial intelligence, it's investing in quantum computing as it looks toward the future. Pure-play quantum computer company IonQ (NYSE: IONQ) aspires to replace the current internet with a quantum-powered version. Could Nvidia or IonQ stock prove to be a great way to invest in quantum technology? Let's dig deeper into both businesses to determine which could be the better long-term investment. IonQ's quantum tech ambitions IonQ has big plans for the future of quantum computing. According to its chairman and former CEO, Peter Chapman, the company seeks "to build the next generation of the internet." To that end, it's constructing a quantum computing network. The current internet exists thanks to computer networking. Extending that capability to quantum devices would scale the computational power they deliver, helping scientists find new solutions in areas such as fusion energy and medicine. IonQ has been on a tear, acquiring businesses to achieve this objective. In January, it acquired Qubitekk, a leading quantum networking company. In May, it added ID Quantique, which works on quantum network security, and Lightsynq Technologies, a specialist in extending the range in which quantum computers can be connected. However, the company's goal of building a quantum-based internet is costly. IonQ wrapped up Q1 with $7.6 million in revenue, but an operating loss of $75.7 million, a substantial jump from the previous year's loss of $52.9 million. Compared to the sales coming in, such an enormous loss is unsustainable over time. That's why IonQ amassed cash and short-term investments of $588.3 million on its Q1 balance sheet. To add to its war chest, the company is pursuing a $1 billion equity offering. Nvidia's measured quantum approach Nvidia catapulted to a record $4 trillion market cap on the back of popular AI products such as its graphics processing unit (GPU). As it looks toward a future with quantum computers, the company is now working on a quantum processing unit (QPU). Current quantum computers are prone to errors in calculations. As a result, Nvidia's approach is to marry its GPUs and QPUs in a hybrid quantum system that can address calculation errors in real time. Leveraging its GPU framework is a smart stepping stone from today's classical computers to quantum devices. The company's ability to jump ahead of the curve is illustrated in its AI success, which led to record revenue of 130.5 billion in its 2025 fiscal year, ended Jan. 26, an astounding 114% year-over-year increase. It followed up this performance with 69% year-over-year growth to $44.1 billion in its fiscal first quarter, ended April 27. Nvidia is also a profitable business with Q1 operating income of $21.6 billion, representing 28% growth over the previous year. The company's dedication to groundbreaking technology is demonstrated in its construction of a research center to advance quantum computing. Nvidia CEO Jensen Huang explained the purpose behind this center by stating it is "where breakthroughs will be made to create large-scale, useful, accelerated quantum supercomputers." Making a choice between Nvidia and IonQ stock Both Nvidia and IonQ are assembling impressive quantum computing systems. But which wins out as the better long-term investment in this nascent field? IonQ's ambitions are extraordinary, yet constructing the quantum internet of the future is taking considerable resources. Moreover, its Q1 revenue of $7.6 million was flat compared to the prior year, calling into question whether it can grow sales to keep pace with the spending needed to achieve its lofty objectives. The company may be biting off more than it can chew. Meanwhile, Nvidia's runaway AI success enabled it to stockpile $53.7 billion in cash and short-term investments in its fiscal first quarter. It also exited the quarter with $26.1 billion in free cash flow, up from $14.9 billion in the prior year. These considerable resources position the company to tackle the existing challenges in quantum computing, particularly those hindering the tech's ability to cost-effectively scale. On top of that, looking at IonQ and Nvidia's share price valuation, it's clear that Nvidia is the better value. The price-to-sales (P/S) ratio is a commonly used metric for this assessment, especially for businesses that aren't profitable, such as IonQ. The chart above shows IonQ's P/S ratio has been on the rise since dropping earlier in the year, and is now more than eight times greater than Nvidia's. This suggests IonQ's stock is overpriced. Nvidia's more attractive share price valuation, combined with its many other strengths, makes it the superior quantum computing investment. That said, Nvidia stock is on fire, having hit a 52-week high of $174.25 on July 18. As a result, you may want to wait for its share price to drop before buying. Do the experts think Nvidia is a buy right now? The Motley Fool's expert analyst team, drawing on years of investing experience and deep analysis of thousands of stocks, leverages our proprietary Moneyball AI investing database to uncover top opportunities. They've just revealed their to buy now — did Nvidia make the list? When our Stock Advisor analyst team has a stock recommendation, it can pay to listen. After all, Stock Advisor's total average return is up 1,037% vs. just 182% for the S&P — that is beating the market by 855.37%!* Imagine if you were a Stock Advisor member when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $634,627!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,046,799!* The 10 stocks that made the cut could produce monster returns in the coming years. 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 July 21, 2025 Robert Izquierdo has positions in IonQ and Nvidia. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy. Better Quantum Computing Stock: Nvidia vs. IonQ was originally published by The Motley Fool Sign in to access your portfolio
Yahoo
11-06-2025
- Business
- Yahoo
IONQ Q1 Earnings Call: Acquisitions and Networking Accelerate Growth
Quantum computing company IonQ (NYSE:IONQ) reported Q1 CY2025 results beating Wall Street's revenue expectations , but sales were flat year on year at $7.57 million. On top of that, next quarter's revenue guidance ($18 million at the midpoint) was surprisingly good and 8.1% above what analysts were expecting. Is now the time to buy IONQ? Find out in our full research report (it's free). Revenue: $7.57 million vs analyst estimates of $7.5 million (flat year on year, 0.9% beat) The company reconfirmed its revenue guidance for the full year of $95 million at the midpoint Market Capitalization: $10.4 billion IonQ's first quarter results showed an increased focus on expanding quantum networking capabilities and its product ecosystem. Management cited investments in R&D, leading to higher operating expenses, and the sale of a Forte Enterprise system to EPB of Chattanooga. Executive Chairman Peter Chapman noted new Asian partnerships and progress with customers like AstraZeneca and Ansys, where IonQ demonstrated tangible industrial application improvements. The leadership transition to CEO Niccolo de Masi was seamless, with Chapman underscoring the value of recent acquisitions and technical advances. Looking ahead, management's guidance is shaped by integrating acquisitions like Lightsynq and Capella, aimed at accelerating IonQ's quantum networking and computing roadmaps. CEO Niccolo de Masi affirmed scaling quantum systems via photonic interconnects as a top priority, with technical milestones like AQ 64. The team sees commercial traction in quantum networking, including government and enterprise deployments, as a key driver for anticipated revenue growth. CFO Thomas Kramer noted that ongoing R&D and acquisition investments will raise costs, but management views these as vital for IonQ's long-term leadership. Management attributed the quarter's results to expanding its commercial ecosystem, executing on strategic acquisitions, and maintaining a focus on technical milestones within quantum computing and networking. Strategic acquisitions drive expansion: IonQ announced acquisitions of Lightsynq (quantum memory/repeater tech) and Capella (space-based quantum networking expertise). Management deemed these crucial for long-distance quantum networks and developing the quantum internet. Progress in quantum networking deployments: The company has four active quantum networks serving defense to telecom sectors. Jordan Shapiro, President of Quantum Networking, highlighted deployments for EPB, U.S. Air Force, SK Telecom, and Singtel, showing commercial traction beyond academic/government labs. Commercial system sales and partnerships: Selling a Forte Enterprise system to EPB created IonQ's first customer with both a quantum network and computer; CEO Niccolo de Masi called this a model for enterprise adoption. Partnerships with Ansys and AstraZeneca demonstrated real-world engineering and drug discovery applications. Investments in R&D and workforce: CFO Thomas Kramer reported significantly increased R&D spending and growth in sales/marketing teams for an expanded roadmap. This raised operating expenses but was deemed necessary for innovation. Leadership and organizational changes: Integrating ID Quantique and promoting Jordan Shapiro to lead quantum networking initiatives underscore IonQ's focus on aligning its structure with long-term strategic goals. Management expects that integration of recent acquisitions, expanded quantum networking deployments, and a strengthened technical roadmap will underpin revenue growth and commercial momentum. Acquisitions to accelerate scalability: Management believes that adding Lightsynq's quantum repeater technology and Capella's space-based networking expertise will enable IonQ to create longer-range quantum networks and support distributed computing, positioning the company to meet both governmental and enterprise demand for secure communications. Commercial adoption beyond research labs: The team highlighted growing enterprise interest in quantum networking, with deployments moving beyond academic environments to sectors like energy and telecommunications. Management stated that as encryption vulnerabilities become more widely recognized, demand for quantum-secure infrastructure could increase significantly. Investment-driven cost pressures: CFO Thomas Kramer noted that ongoing investment in R&D, talent, and the integration of acquired companies will raise the cost basis in the near term. While management expects these costs to support long-term leadership, they acknowledged that adjusted EBITDA losses are likely to expand as IonQ scales its operations and product offerings. In the coming quarters, the StockStory team will focus on (1) the pace and impact of integrating Lightsynq and Capella into IonQ's product roadmap, (2) growth in commercial and government quantum networking deployments, and (3) evidence that expanded R&D and sales investments are translating into new customer wins and technical milestones. Progress toward distributed quantum computing and increased adoption of quantum-secure networks will also be important signs of execution. IonQ currently trades at a forward price-to-sales ratio of 88.8×. At this valuation, is it a buy or sell post earnings? The answer lies in our full research report (it's free). Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
10-06-2025
- Business
- Yahoo
Where Will IonQ Be in 5 Years?
IonQ's approach to quantum computing allows it to scale in size easily. IonQ has bold predictions that it will be profitable in five years. 10 stocks we like better than IonQ › IonQ (NYSE: IONQ) is a popular quantum computing investment. It has displayed solid progress in solving fundamental quantum computing problems and holds many lucrative contracts. However, the stock has been quite volatile since December 2024 (when Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) initiated the quantum computing investing trend), and it currently sits around 30% off of its all-time high at the time of writing. With how volatile quantum computing stocks have been recently, that figure could easily reach 50% off the all-time high or be as little as 10% off within a matter of days. That's because quantum computing stocks are very headline-driven. There really isn't a market for quantum computing products just yet, but within five years, there may be. Where will IonQ be in five years? Its CEO has some bold predictions about the company's future. IonQ uses trapped ion technology to power its quantum computers. These trapped ions form qubits, the basic computing unit in quantum computing. Unlike traditional computing, which uses bits (only 0s or 1s) to transmit information, qubits can hold a value of anywhere between 0 and 1. This makes the amount of information they can store nearly endless, but it also opens the calculation up to errors. These errors are a fundamental problem with quantum computing and the reason the technology isn't widespread today. Everyone involved in the quantum computing arms race is attempting to solve this problem, and each company has a unique approach. One way IonQ reduces errors is by using all-to-all connectivity. By having each qubit connected to the other in the system, the interaction between the qubits reduces errors. IonQ has achieved 99.9% gate fidelity, which measures how accurate a calculation is. They've also produced an easily scalable architecture that can be run at room temperature, making it far easier to deploy than some solutions. Although IonQ is still far from winning the quantum computing race, it has an excellent head start. But where will IonQ be in five years? IonQ is already starting to sell some of its quantum computing systems, with five units already being sold. They're launching their new Tempo system in 2025, which they believe will provide commercial value to certain clients. In 2026, they believe they can produce a quantum computer that will provide wide-scale value to many clients. Although IonQ is unprofitable, its massive $697 million cash balance (as of the end of Q1) is helping to bridge the gap until it turns a profit. But when will that be? CEO Peter Chapman believes that it will occur by 2030. He also expects to generate $1 billion in sales by then, which would be outstanding growth in just five years. Most quantum computing companies point to 2030 as the start date for widespread quantum computing use, with even broader use expanding rapidly in the following years. By 2035, IonQ expects an $87 billion quantum computing market. If IonQ's products capture just 10% of this potential market, it will be an outstanding investment. However, if IonQ loses the AI arms race to another competitor, its stock will likely fall to $0. This is an unfortunate reality when investing in a quantum computing start-up, and it's a risk that investors must keep in mind. IonQ could be a massive winner if everything works out in its favor. If it doesn't, the stock will become nearly worthless. With this kind of all-or-nothing investment possibility, IonQ investors should keep their position sizes relatively small. That way, if the stock goes to $0, you're not significantly affected. But if IonQ wins the race and explodes higher, you can add to your position along the way and own a huge winner. Before you buy stock in IonQ, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 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 $669,517!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $868,615!* Now, it's worth noting Stock Advisor's total average return is 792% — a market-crushing outperformance compared to 173% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Keithen Drury has positions in Alphabet. The Motley Fool has positions in and recommends Alphabet. The Motley Fool has a disclosure policy. Where Will IonQ Be in 5 Years? was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
