Will the AI bubble burst? Is there even an AI bubble? Are bubbles good or bad for early-stage tech investors? We get a lot of questions asked of us at the HPQC Fund. We do try to answer them all. Investors are rightly fascinated by the explosive growth of AI, but beneath the rapid shifts in software and public-market sentiment lies a far more durable transformation. As Matthew Gould, Portfolio Manager of the ICM HPQC Fund, notes, the real opportunity is not in chasing the nex

At the ICM HPQC Fund we seek out early-stage investments in technologies that can radically improve the way compute can be generated and...

ICM’s recent whitepaper on the economics of quantum computing argues that most approaches to building a quantum computer are likely to be...

ICM HPQC Fund (“ICM HPQC”) continues to see excitement in the next-generation computing space. In this newsflash, we cover: A look back at an exceptional year for compute and AI infrastructure: Market trends shaping hyperscaler investment, data-centre expansion and energy constraints The rise of agentic AI, productivity tools and record valuations across the sector A breakout year for quantum computing, government initiatives and strategic momentum How these shifts position I

The latest market insight from ICM reports that October brought another month of gains for U.S. equities, supported by solid earnings and a widely anticipated rate cut from the Federal Reserve. The tone shifted in early November, with markets giving back some ground as investors reassessed valuations and the policy path. Some recent risks have eased, including a pause in U.S.-China trade tensions and the resolution of the federal shutdown. Others persist. Inflation remains ab