Rigetti Computing continues to turn heads at the stock market, posting a massive 41% gain so far on Tuesday. It continues its superb run over the past few months, having surged 100% in the past five days alone, and a whopping 322% in the past month.
Thanks to its savvy partnerships and exciting quantum computing road map, Rigetti Computing’s stock is jumping. Important benchmarks drawing investor confidence include the release of its 84-qubit Ankaa 3 systemby year-end and a 100+ qubit system in 2025. Strong development promise comes from partnerships with NVIDIA (NVDA), Fermilab, and others as well as possible DARPA contracts and more U.S. quantum funding. Notwithstanding the financial troubles including expensive R&D expenses and liquidity issues, the story of scalable quantum developments and government assistance inspires hope. Recent successes in chip scaling and error correction increases Rigetti’s edge in the cutthroat quantum field. These advances, along with the National Quantum Initiative Act’s reauthorization, set Rigetti for more success; analysts seedouble-digit price targets by 2025.
This article first appeared on GuruFocus.
