The article discusses IonQ's position as a pure-play quantum computing company, highlighting its unique approach and risks. It analyzes the company's $11 billion market cap compared to larger competitors like Alphabet, and advises investors on whether to buy IonQ stock before its Q2 earnings report on August 6.

Microsoft and Meta are under investor scrutiny for their aggressive AI spending, with both companies expected to report significant capital expenditures in their fiscal years. Analysts worry that massive AI investments without immediate profits could impact stock valuations, as investors increasingly prioritize returns on investment (ROI) over long-term growth potential.

Alibaba Group is repositioning itself as an AI-native company through three strategic bets: developing Qwen, an open-source AI engine; pivoting Alibaba Cloud to an AI platform; and integrating AI into commerce platforms like Taobao and Tmall. These moves aim to position Alibaba for long-term growth amid regulatory challenges and competition.

Alphabet reported strong Q2 2025 results, exceeding market expectations with a 14% revenue surge to $96.43 billion and a profit per share of $2.31. Key drivers include AI advancements, Google Cloud growth, and YouTube advertising. The company plans $85 billion in 2025 investments, despite a $5.3 billion cash flow drop. Markets reacted cautiously, with a 'Golden Cross' and 'Buy' rating from JP Morgan, but questions remain about the sustainability of growth.

Alphabet reported record Q2 2025 results, with $96.43 billion in revenue (+14% YoY) and an EPS of $2.31 (+22% YoY), driven by its AI strategy. Google Cloud grew to $50 billion in annual revenue with 32% quarterly growth, while search remained a stable revenue source. The company increased 2025 capital expenditures to $85 billion and faces challenges from quantum computing advancements.