Rigetti Computing (RGTI) stock surged 5.13% in premarket trading on Thursday, following the company's fourth-quarter 2024 earnings report and strategic updates that boosted investor confidence in its future prospects.
The quantum computing pioneer reported a wider net loss of $153 million, or $0.68 per share, for Q4 2024, compared to a net loss of $12.6 million in the same period last year. However, the company achieved significant milestones in its technological advancements and strategic partnerships.
Rigetti announced a strategic collaboration with Quanta Computer Inc., committing over $100 million each to accelerate the development of superconducting quantum computing. This partnership aims to leverage Quanta's manufacturing capabilities and Rigetti's technology to drive innovation in the field.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.