Shares of Rigetti Computing Inc. (RGTI), a pioneer in superconducting quantum computing, soared 8.59% in Friday's pre-market trading session. The stock surge came following the announcement of a strategic partnership with Quanta Computer Inc., a leading manufacturer of servers and computers.
Under the collaboration, both Rigetti and Quanta have committed to investing over $100 million each over the next five years to accelerate the development and commercialization of superconducting quantum computing technologies. Significantly, Quanta will also invest $35 million to purchase shares in Rigetti, subject to regulatory approval.
The partnership deal underscores the growing optimism surrounding the quantum computing industry, which is poised for rapid growth, with the market expected to reach $1-2 billion per year by 2030. Superconducting qubits, which Rigetti specializes in, are considered advantageous due to their fast gate speeds and well-established manufacturing techniques from the semiconductor industry.
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