Rigetti Computing (RGTI) surged 8.86% on Wednesday, outperforming the broader market as investor enthusiasm in the quantum computing sector received a boost from the success of the Defiance QTUM Quantum Computing ETF.

The rally in RGTI shares was fueled by news that the QTUM ETF, which counts Rigetti Computing as a key holding, achieved two significant milestones: earning a prestigious 5-star Overall Morningstar Rating and surpassing $1 billion in assets under management (AUM).

The QTUM ETF's strong performance and growing popularity among investors underscore the rising interest in quantum computing, a rapidly evolving field with the potential to solve complex problems beyond the reach of classical computing. As a leader in this space, Rigetti Computing benefited from the positive sentiment surrounding the QTUM ETF's achievements, with investors flocking to the stock in anticipation of future growth.