Stock surge for Rigetti Computing today
Investors are showing a growing interest in quantum computing stocks as more practical applications are being discussed and demonstrated. On Thursday, several companies in the quantum computing space saw their stocks rise, with Rigetti Computing and IonQ leading the pack.
Rigetti Computing's shares soared on Thursday morning following the announcement of a new deal with the US Air Force. The three-year contract, worth $5.8 million, aims to advance superconducting quantum networking. The contract involves Rigetti and Dutch research and product development company QphoX.
As of 11:53 a.m. ET, Rigetti's shares were up by 14.1%, trading at $24.74, an increase of 12.51% from the previous day. The volume of RGTI's stock today is 113,907,973, with an average volume of 44,014,775. The day's range for RGTI's stock is $22.40 - $26.21, with the shares reaching an all-time high due to the news of the new deal.
Meanwhile, IonQ, a peer of Rigetti Computing, also experienced an increase in its stock price. The company announced a new deal with the U.S. Department of Energy for the development and deployment of quantum technologies in space. IonQ's CEO, Niccolo de Masi, expressed the aim to enable new applications for secure communications. The memorandum of understanding (MoU) signed by IonQ aims to demonstrate the power of quantum computing and networking for secure communications.
The aim of the contract is to investigate the transformative potential of quantum networking. The objective is to enable multiple quantum processors to collaboratively solve problems. The US Air Force is not the only organisation showing interest in quantum computing. The goal is to find if quantum networks can scale up to larger and more powerful systems like classical high-performance computing.
It's worth noting that the gross margin for RGTI is -39.99%, indicating that the company is not yet profitable. However, the potential for quantum computing to revolutionise various industries is undeniable, and investors are willing to take a risk.
In conclusion, the quantum computing space is heating up, with Rigetti Computing and IonQ leading the way. As more deals are announced and practical applications are developed, we can expect to see more growth in this exciting field.
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