Billionaires Are Piling Into a Quantum Computing Stock That Gained Over 3,700% in the Past Year

Quantum computing has arguably been one of the hottest subsectors of the market over the past year, with a few of these stocks generating jaw-dropping returns. But there's still wide debate among investors over quantum computing's true potential and whether the technology can be commercialized to the masses. One quantum company that has taken the market by storm is Rigetti Computing (NASDAQ: RGTI), which has seen its stock explode over 3,700% in just the past year.Billionaire investors on Wall Street seem to be taking notice. In the second quarter, some of the world's top hedge funds began piling into Rigetti, a potentially bullish signal.Quantum computers may be the next big thing in the history of computers, harnessing the power of quantum qubits. The qubits can have values between the black-and-white zeroes and ones seen in digital systems, making them better suited to solving a certain type of complex pattern-finding problems. That may sound too narrow to be useful, but these specific tasks are crucial in fields such as medical research, financial modeling, and cryptography.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool