Rigetti Computing Inc. (RGTI) witnessed a significant pre-market surge of 12.15% on Friday, as investors reevaluated the near-term prospects of the quantum computing industry.
The rally in RGTI's stock price came in the wake of comments from Nvidia CEO Jensen Huang, who provided a reality check on the practical application timeline for quantum computing technology. During a recent industry event, Huang cautioned that widespread adoption and commercial viability of quantum computing are still likely 20 years away.
This statement from the influential tech leader served to reset market expectations, which had previously been inflated by heightened investor enthusiasm for the emerging quantum computing field. Huang's perspective, grounded in a realistic assessment of the technological challenges, prompted a recalibration of valuations for quantum computing companies like Rigetti.
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