Historical hypothesis, now retired from live research: Policy support and financing can keep quantum development alive without proving commercial advantage. Balance-sheet runway and repeatable commercial demand are different tests.

Why now

Retire the sector option while funding, runway and repeatable commercial demand remain unresolved; technical or policy milestones alone do not earn a live campaign.

In scope

Policy support and financing can keep quantum development alive without proving commercial advantage. Balance-sheet runway and repeatable commercial demand are different tests.

Out of scope

No current campaign-level investment recommendation · No reconstruction of past returns or reassignment of original calls

Expected horizon

No current investable window established.

What supports it

Require filed funding terms, runway and commercial receipts, then a confirmed base/reclaim on volume. Policy headlines or noncash warrant gains do not establish operating profitability; the campaign excludes pre-revenue lotteries.

What would break it

The closure is a research-priority decision, not a new market falsification verdict. Original evidence gaps and outcomes remain as recorded.

Next review On condition · Filed funding terms and repeatable paid customer demand with a specific economic mechanism would justify a successor.

Closed 2026-09-06 · Retire the sector option while funding, runway and repeatable commercial demand remain unresolved; technical or policy milestones alone do not earn a live campaign.