Rigetti Computing (Nasdaq: RGTI) has seen a remarkable 1,080% increase in its stock value over the past year, driven by expanding investor interest in quantum computing. The company’s technology utilizes superconducting qubits and competes in a landscape that includes major players like Google and IBM, which are also developing scalable quantum systems.
Despite generating just $9.2 million in revenue over the last year and experiencing a $74 million operating loss, Rigetti is focused on advancing its technology. The company aims to develop a 100-qubit system by the end of the year and plans to enhance its product offerings through cloud partnerships with companies like Amazon and Microsoft.
Investors should be aware of the elevated risks tied to Rigetti, including its early-stage status in a competitive market and unresolved technical challenges. As quantum technology progresses, Rigetti could benefit significantly, but the path to commercial viability remains uncertain.
