Rigetti Computing Inc. (RGTI) saw its stock soar 7.32% in pre-market trading on Friday, continuing the momentum from the previous session's 36% rally. The quantum computing company's shares have been caught up in a wave of speculative trading as investor enthusiasm for the transformative potential of quantum computing technology intensifies.
The surge in RGTI stock comes amid a broader rally in quantum computing stocks, fueled by recent breakthroughs and milestones in the industry. Notably, Google's unveiling of its powerful "Willow" quantum chip has highlighted the immense computational capabilities of quantum computers, sparking investor interest in players like Rigetti that are poised to capitalize on this emerging technology.
According to market analysts, the excitement surrounding quantum computing has been amplified by factors such as the recent National Quantum Initiative Reauthorization Act, which is expected to provide significant funding and support for the development of quantum technologies over the next five years. Additionally, the scarcity of publicly traded quantum computing companies has contributed to the frenzy, as investors seek exposure to this rapidly evolving sector.
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