Rigetti Computing (RGTI) stock surged 5.08% in the 24-hour period leading up to Sunday's night session, reflecting investors' optimism about the company's involvement in the emerging quantum computing industry. However, the road ahead remains challenging, with significant hurdles to overcome before quantum computing technology achieves mainstream commercial viability.

As a pioneer in quantum computing hardware, Rigetti Computing has developed a platform called Quantum Cloud Services (QCS), designed to offer remote access to quantum computing power through the cloud. This approach could potentially save clients the cost and complexity of building and operating quantum computers in-house, while allowing them to leverage the technology's exponentially greater processing power via their traditional hardware.

Nevertheless, quantum computing is still far from having meaningful applications, and industry experts suggest it could be another 20 years before the technology finds practical use. This extended timeline raises concerns about Rigetti Computing's ability to sustain its operations and maintain a competitive edge, given the high cash burn and lack of profitability. The company reported a 23% year-over-year decline in revenue to $2.4 million in the third quarter, with operating losses seven times higher than sales.