Quantum & MBE
Early R&DEarly R&D — 3–4 years, but front-running now
Early R&D — 3–4 Years from Material Revenue
Thesis
Molecular Beam Epitaxy (MBE) is the precision deposition technology underlying quantum computing and next-generation quantum dot photonics. Riber is the MBE machine duopolist (with Veeco), supplying Microsoft's quantum computing program and IQE/Fujitsu's quantum dot photonics arms. This is genuinely early — 3-4 years from material revenue — but the same playbook that worked with CPO: find the chokepoint before institutions.
Picks in this Sector (2 active)
Riber makes Molecular Beam Epitaxy (MBE) machines — the ultra-precise deposition equipment used to grow quantum structures and photonic semiconductor layers. As a duopoly supplier to Microsoft's quantum computing program and to IQE/Fujitsu quantum dot photonics arms, Riber is positioned at the intersection of two multi-decade growth themes. At ~$300M MC, it's a gem that institutions haven't discovered yet — but Apollo could buy the entire float for what is pocket change relative to their dry powder.
York Space acquired ALLSPACE — SIVE's lead defense customer. YSS is a national defense prime contractor with links to Space Force, Space Development Agency, DoD, and the Golden Dome initiative. This means SIVE has a backdoor to US space buildout through YSS.