Rigetti Computing (RGTI.US) gains another 15.60% amid rising interest in quantum computing The turning point came earlier this week when Alphabet announced its new Willow chip prototype.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appInterest in quantum computing has reached a record level over the past five years (the dashed line represents the current, still ongoing period). Source: Google Trends
Companies in the quantum computing sector are clearly benefiting from this trend. Significant stock gains started even earlier, at the beginning of November. Many companies have experienced multi-x increases in their stock prices. The spark came from successive announcements of significant technological advancements, culminating in Alphabet’s presentation of the Willow chip this week and the announcement of a new U.S. fund worth over $2.7 billion.
- At the start of December, U.S. senators proposed the National Quantum Initiative Reauthorization Act, aiming to allocate $2.7 billion over five years for quantum research. Efforts would focus on detection, computation, and communication to enhance national security and competitiveness in the sector.
- In November, Amazon Web Services launched "Quantum Embark", a new advisory program designed to help clients prepare for quantum computing, offering an expert-led approach.
Rigetti Benefits from Market Momentum and Announces Its Own Progress
On December 10th, Quantum Machines and Rigetti Computing announced the successful use of AI to automate the calibration of a 9-qubit quantum processor as part of the "AI for Quantum Calibration Challenge" organized by the Israeli Quantum Computing Center.
Financial Situation
Currently, all progress in the quantum computing sector remains in the research domain. Commercialization of products is not yet possible and likely won’t be for several years. Therefore, most companies in the sector, including Rigetti, rely heavily on capital funding and do not operate profitable businesses.
Chart (D1 Interval)
The company’s stock is up nearly 15% today, reaching a total market capitalization of $1.9 billion. However, the nature of these gains is highly speculative.
Source: xStation 5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
