Rigetti Computing (RGTI) experienced a significant 24-hour plunge of 5.45% on Thursday, as investors reacted negatively to the outcomes of Nvidia's inaugural Quantum Day event. The quantum computing company, along with its peers, failed to provide any substantial announcements or clear deployment timelines during the high-profile conference, leading to a sell-off in quantum computing stocks.

The decline in Rigetti's stock price was part of a broader trend affecting quantum computing companies following the Nvidia event. D-Wave Quantum and IonQ also saw their shares tumble, with D-Wave experiencing the most significant drop of 18%. The lack of concrete news or breakthroughs from these companies at the conference, which featured a panel discussion with Nvidia CEO Jensen Huang, appears to have disappointed investors who may have been anticipating more substantial developments in the quantum computing sector.

Despite the recent setback, it's worth noting that Rigetti Computing's stock has demonstrated considerable volatility over the past year. The company has seen a remarkable 430% surge in its stock price over the last 12 months, although it remains down more than 41% year-to-date. This recent plunge highlights the ongoing challenges and uncertainties in the quantum computing industry, as companies strive to deliver on the technology's promises while managing investor expectations.