Rigetti Computing Stock Surges Amid Quantum Interest

Rigetti Computing's stock has seen remarkable fluctuations, surging over 48% recently amid growing enthusiasm for quantum computing, particularly following Microsoft's announcement of its 'Quantum Ready' program. Despite this momentum, CEO Subodh Kulkarni has urged investors to temper their expectations, emphasizing that the company is still in the technology development phase and not yet ready to discuss sustainable sales growth or profitability. The excitement around quantum computing has attracted momentum traders, but industry giants like Nvidia's Jensen Huang and Meta's Mark Zuckerberg have expressed skepticism regarding the immediate viability of quantum technology. Kulkarni acknowledged Rigetti's significant stock price increase, which has led to a market cap exceeding $2 billion, while also noting a $45 million net loss through Q3 2024. He reiterated the importance of refining technology before pursuing commercialization and hinted at the potential need for additional funding to support ongoing development efforts. The stock's volatility raises questions about whether investors might be overly optimistic about the future of quantum computing.