Rigetti Computing (NASDAQ: RGTI) stock went on a massive run in May, surging over 46%.
Shares got a boost from a marketwide rally that saw the Nasdaq Composite gain more than 8%, but better-than-expected Q1 earnings and a major announcement from the federal government both sent the stock higher.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
On May 21, the U.S. Department of Commerce signed letters of intent to award $2 billion in federal grants to nine quantum computing companies under the CHIPS and Science Act. Aimed at accelerating the development of "utility-scale, fault-tolerant quantum computing," the program was seen as a major endorsement from the federal government.
Rigetti will receive up to $100 million over three years, per a letter of intent. That's a pretty big sum for a company that generated just $4.4 million in revenue last quarter, and it helps provide a financial runway.
Shares got a boost from a marketwide rally that saw the Nasdaq Composite gain more than 8%, but better-than-expected Q1 earnings and a major announcement from the federal government both sent the stock higher.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
On May 21, the U.S. Department of Commerce signed letters of intent to award $2 billion in federal grants to nine quantum computing companies under the CHIPS and Science Act. Aimed at accelerating the development of "utility-scale, fault-tolerant quantum computing," the program was seen as a major endorsement from the federal government.
Rigetti will receive up to $100 million over three years, per a letter of intent. That's a pretty big sum for a company that generated just $4.4 million in revenue last quarter, and it helps provide a financial runway.
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