Rigetti Computing (RGTI) witnessed a significant 10.98% surge in its stock price during intraday trading on Thursday, continuing the remarkable rally in the quantum computing sector.
The quantum computing industry has been on a remarkable tear recently, with leading stocks like Quantum Computing (QUBT) and Rigetti Computing (RGTI) emerging as standout performers. Investor excitement and speculative trading have driven QUBT and RGTI shares up by over 1,700% and 1,400% respectively in 2024.
A major catalyst fueling this frenzy was Alphabet's unveiling of its "Willow" quantum chip, capable of tackling complex problems in minutes. This positioned Alphabet and other emerging quantum computing players as leaders in this rapidly evolving field, further attracting investor attention and capital inflows.
Government contracts and practical use cases have also added legitimacy to the sector. Notably, Quantum Computing Inc. (QUBT) landed a NASA contract to utilize its quantum optimization technology for enhanced imaging and data processing capabilities.
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