Rigetti Computing gains 15% extending euphoria around quantum computing 💣

Rigetti Computing (RGTI.US) gains another 15.60% amid rising interest in quantum computing The turning point came earlier this week when Alphabet announced its new Willow chip prototype.

Interest in quantum computing has reached a record level over the past five years (the dashed line represents the current, still ongoing period). Source: Google Trends

Companies in the quantum computing sector are clearly benefiting from this trend. Significant stock gains started even earlier, at the beginning of November. Many companies have experienced multi-x increases in their stock prices. The spark came from successive announcements of significant technological advancements, culminating in Alphabet’s presentation of the Willow chip this week and the announcement of a new U.S. fund worth over $2.7 billion.

• At the start of December, U.S. senators proposed the National Quantum Initiative Reauthorization Act, aiming to allocate $2.7 billion over five years for quantum research. Efforts would focus on detection, computation, and communication to enhance national security and competitiveness in the sector.
• In November, Amazon Web Services launched "Quantum Embark", a new advisory program designed to help clients prepare for quantum computing, offering an expert-led approach.

Rigetti Benefits from Market Momentum and Announces Its Own Progress

On December 10th, Quantum Machines and Rigetti Computing announced the successful use of AI to automate the calibration of a 9-qubit quantum processor as part of the "AI for Quantum Calibration Challenge" organized by the Israeli Quantum Computing Center.

Financial Situation

Currently, all progress in the quantum computing sector remains in the research domain. Commercialization of products is not yet possible and likely won’t be for several years. Therefore, most companies in the sector, including Rigetti, rely heavily on capital funding and do not operate profitable businesses.

Chart (D1 Interval)

The company’s stock is up nearly 15% today, reaching a total market capitalization of $1.9 billion. However, the nature of these gains is highly speculative.

Source: xStation 5