Mehmet Sanliol (Evercore): Why quantum valuations hinge on 2030 revenue multiples and consolidation
THE SO WHAT
If public quantum valuations are anchored on 2030 revenue and expected consolidation, most current players are effectively trading on option value, not fundamentals. Founders should assume M&A or roll-ups as the default path and build for strategic fit with semis and cloud, not standalone IPOs.
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