In the mid-20th century, the world watched as the U.S. and the Soviet Union competed in a tense battle for technological and military superiority—the Cold War. Today, we are witnessing a new kind of Cold War, one that isn’t fought with missiles or espionage, but with algorithms and qubits. The United States is now locked in an “AI Cold War” with China and other global competitors, yet we are dangerously underinvesting in the key technologies that will define the future: artificial intelligence (AI) and quantum computing.