Soaring Rise of Rigetti Computing's Shares Today
In the realm of cutting-edge technology, quantum computing is making strides, transitioning from theoretical concepts to initial commercial applications. Despite the progress, large-scale industrial utility remains limited, with the market growth primarily driven by government funding [1][2][4].
One of the key players in this burgeoning field is Rigetti Computing, a company that has recently announced a significant milestone in its development of commercially viable quantum computing. Rigetti's shares are soaring on Thursday, with a 28.9% increase as of 1:38 p.m. ET, following news of improved "gate fidelity" on its modular 36-qubit system [5].
Rigetti's achievement of a 99.5% median two-qubit gate fidelity is a significant step forward, but it's important to note that gate error remains a major barrier to quantum computing achieving viability outside the lab [6]. While this level of accuracy may seem impressive, classical computers have an error rate many orders of magnitude lower [7].
The development of quantum computing technology is on the bleeding edge of science and is a decade or more away from true commercial application [3]. This uncertainty, coupled with the high risk involved, has led to Rigetti and other quantum stocks being considered too pricey for where the technology is in its development [8]. It is suggested that investors spread their investment among many quantum stocks due to the uncertainty of which company's approach will work and the possibility that the technology may never mature to viability [9].
Rigetti remains an active participant in key quantum development initiatives, such as the Quantum Benchmarking Initiative, with technology evaluations ongoing [2]. Successful completion of these evaluations could position Rigetti as a leader in the field, although a major "moonshot" breakthrough remains uncertain [2].
By 2030, quantum computing is expected to achieve commercially meaningful advantages in several industries, especially those with near-term quantum advantage potential like drug discovery, material design, and financial services [1][3]. The next 5–10 years will be critical to demonstrate clear return-on-investment and industry adoption, with early adopters advised to experiment now to build expertise and ecosystem positioning [3].
In conclusion, Rigetti Computing and the wider quantum industry are on a path of cautious but steady progress towards commercial viability, driven largely by government funding today, with important milestones expected in the late 2020s and early 2030s. Industry leaders and investors should anticipate steady growth with emerging business cases in specific niches, while preparing for a potentially disruptive new computing paradigm in the next decade [1][2][3][4]. However, it's crucial to remember that the ultimate trajectory of quantum computing commercialization remains uncertain and could be reshaped by unforeseen technological breakthroughs or alternative quantum architectures [1][2].
- Investors must consider the risks associated with the high price of quantum stocks like Rigetti, given the uncertainty of which company's approach will work and the possibility that the technology may never mature to viability.
- By 2030, it's expected that quantum computing will offer commercially meaningful advantages in several industries, particularly those with near-term quantum advantage potential such as finance services and finance.
- Large-scale industrial utility of quantum computing technology remains limited, but Rigetti's recent achievement of a 99.5% median two-qubit gate fidelity is a significant step towards overcoming major barriers, such as gate error, in the quest for commercially viable quantum computing.
