Rigetti Computing Stock Surged -- Here Is What Is Driving the Rally

Rigetti Computing (NASDAQ: RGTI) stock has been on a tear, and the rally is not random trading noise. It is being fueled by a string of company announcements that, taken together, make Rigetti look less like a tiny lab project and more like an emerging strategic asset in government-backed quantum infrastructure. The excitement is understandable, even if the risk is still very real.The turning point was Rigetti's announcement on May 21 that it had signed a letter of intent with the U.S. Department of Commerce for an award of up to $100 million over three years under the CHIPS and Science Act. That money is earmarked for superconducting quantum computing research and development, aimed at tackling the hard engineering problems of scaling multi-chip quantum processors.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool