Plus: JPMorgan Chase ended its banking relationship with Polymarket over regulatory concerns. And analysts say Lenovo seems confident in managing the headwinds for consumer electronics. Julie Chang hosts.
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[00:00:01] Here's your afternoon TNB Tech Minute for Friday, August 14. I'm Julie Chang for The Wall Street Journal. Businesses are spending big on quantum computing. According to a report from Boston Consulting Group, enterprise users collectively spent $300 million on quantum in 2025. That amount outranked research labs and governments combined for the first time. BCG surveyed the top 25 global companies by market cap across 11 major industries.
[00:00:31] It found that 62% were spending at least $1 million a year on quantum and had a designated program. Quantum computers leveraged quantum physics to solve complex problems beyond the capabilities of today's supercomputers. They promised to transform industries from financial trading and shipping logistics to pharmaceuticals. JPMorgan Chase ended its banking relationship with prediction market Polymarket last October over regulatory concerns. That's according to people familiar with the matter.
[00:01:01] However, the bank maintains some ties to Polymarket and other prediction market firms. A Polymarket spokesman said the company keeps a, quote, quote, close active relationship with JPMorgan across multiple entities and noted its CEO spoke at three bank events in the past year. Plus, a source told the journal that in April, JPMorgan offered wealth management clients the ability to participate in Polymarket Series E fundraising that would value the company at $14.5 billion.
[00:01:30] The Financial Times earlier reported on the ended banking relationship with JPMorgan. Dow Jones, the publisher of the Wall Street Journal, has a data partnership with Polymarket. And city analysts say Lenovo should be able to manage the headwinds for consumer electronics. In the second half of the fiscal year, Lenovo management expects PC shipments to fall around 15% and smartphone shipments to fall around 20%.
[00:01:57] Commercial PCs are expected to show some more resilience than consumer PCs. To offset lower unit sales, the analysts cite Lenovo management saying the company plans to raise average selling prices, optimize its premium product mix and expand market share. And that's your TNB Tech Minutes. Tune in Saturday morning for the final installment of our special series, AI and the Blurring of Reality.