Rigetti Scores $4.6 Million UK Grant To Tackle Quantum Error Correction
Rigetti Computing's Recent Achievements: Rigetti Computing's share price surged after winning a £3.5 million project under Innovate UK's Quantum Missions initiative, aimed at improving error correction in quantum computers through collaboration with Riverlane and the National Quantum Computing Centre.
Future Developments and Stock Performance: The company plans to upgrade its quantum processor from 24 to 36 qubits and has secured additional grants for projects involving digital control chips and an open-architecture testbed, contributing to a 623% increase in RGTI stock over the past year.
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Rigetti's Quantum Breakthrough Fuels ETF Growth
Rigetti's Stock Performance: Rigetti Computing Inc. has seen a dramatic increase in its stock price, rising approximately 3,900% over the past year and around 100% year-to-date, attracting investor interest in ETFs like RGTU and RGTX that leverage its performance.
U.S. Air Force Contract: On September 18, Rigetti announced a $5.8 million deal with the U.S. Air Force to develop quantum networking technology, which contributed to a more than 20% increase in its stock price following the announcement.
Risks of Leveraged ETFs: The focused exposure of ETFs like RGTU and RGTX to Rigetti's stock carries significant risks, as evidenced by a high short interest and Rigetti's inconsistent financial performance, including a 50% year-over-year revenue decline.
Broader ETF Exposure: Other ETFs such as the Defiance Quantum ETF (QTUM) and ARK Autonomous Technology & Robotics ETF (ARKQ) also provide exposure to Rigetti, albeit with less concentrated risk compared to the leveraged ETFs.
What's Going On With Rigetti Computing Stock Today?
Performance Breakthrough: Rigetti Computing reported a significant advancement in its quantum computing hardware, achieving a 99.5% median fidelity rate for two-qubit gates on its new 36-qubit system, which is set for commercial rollout on August 15.
Financial Position and Market Response: Despite the breakthrough, RGTI shares dipped slightly in premarket trading; however, the company has secured approximately $350 million in funding, enhancing its financial stability with around $575 million in liquid assets and no debt.
Rigetti Scores $4.6 Million UK Grant To Tackle Quantum Error Correction
Rigetti Computing's Recent Achievements: Rigetti Computing's share price surged after winning a £3.5 million project under Innovate UK's Quantum Missions initiative, aimed at improving error correction in quantum computers through collaboration with Riverlane and the National Quantum Computing Centre.
Future Developments and Stock Performance: The company plans to upgrade its quantum processor from 24 to 36 qubits and has secured additional grants for projects involving digital control chips and an open-architecture testbed, contributing to a 623% increase in RGTI stock over the past year.
EXCLUSIVE: Why Defiance Is Letting You Go 2X Long On Quantum, And 2X Short On AI, Straight From The CEO
New Leveraged ETFs Launch: Defiance ETFs has introduced two new leveraged single-stock ETFs, RGTX for Rigetti Computing Inc. and SMCZ for Super Micro Computer Inc., targeting traders interested in quantum computing and AI infrastructure respectively.
Market Strategy Insights: CEO Sylvia Jablonski emphasized that these products cater to sophisticated short-term traders seeking to capitalize on high-volatility tech stocks, with RGTX focusing on early-stage innovation and SMCZ allowing for hedging against potential market corrections.
ETFs Last Week: Wall Street Whipsaws, Dollar Under Siege, Yet These 5 Funds Won
Impact of Trade Tariffs: President Trump's rising trade tariffs have caused volatility in financial markets, affecting the dollar's strength and Treasury yields, while investor sentiment has been negatively impacted by China's counter-tariffs.
Top Performing ETFs: Several niche ETFs performed well amidst market turmoil, including those focused on Broadcom, gold strategies, quantum computing, and corn futures, capitalizing on trends like semiconductor demand, inflation fears, and agricultural speculation.
Rigetti's Quantum Breakthrough Fuels ETF Growth
Rigetti's Stock Performance: Rigetti Computing Inc. has seen a dramatic increase in its stock price, rising approximately 3,900% over the past year and around 100% year-to-date, attracting investor interest in ETFs like RGTU and RGTX that leverage its performance.
U.S. Air Force Contract: On September 18, Rigetti announced a $5.8 million deal with the U.S. Air Force to develop quantum networking technology, which contributed to a more than 20% increase in its stock price following the announcement.
Risks of Leveraged ETFs: The focused exposure of ETFs like RGTU and RGTX to Rigetti's stock carries significant risks, as evidenced by a high short interest and Rigetti's inconsistent financial performance, including a 50% year-over-year revenue decline.
Broader ETF Exposure: Other ETFs such as the Defiance Quantum ETF (QTUM) and ARK Autonomous Technology & Robotics ETF (ARKQ) also provide exposure to Rigetti, albeit with less concentrated risk compared to the leveraged ETFs.
What's Going On With Rigetti Computing Stock Today?
Performance Breakthrough: Rigetti Computing reported a significant advancement in its quantum computing hardware, achieving a 99.5% median fidelity rate for two-qubit gates on its new 36-qubit system, which is set for commercial rollout on August 15.
Financial Position and Market Response: Despite the breakthrough, RGTI shares dipped slightly in premarket trading; however, the company has secured approximately $350 million in funding, enhancing its financial stability with around $575 million in liquid assets and no debt.
Rigetti Scores $4.6 Million UK Grant To Tackle Quantum Error Correction
Rigetti Computing's Recent Achievements: Rigetti Computing's share price surged after winning a £3.5 million project under Innovate UK's Quantum Missions initiative, aimed at improving error correction in quantum computers through collaboration with Riverlane and the National Quantum Computing Centre.
Future Developments and Stock Performance: The company plans to upgrade its quantum processor from 24 to 36 qubits and has secured additional grants for projects involving digital control chips and an open-architecture testbed, contributing to a 623% increase in RGTI stock over the past year.
EXCLUSIVE: Why Defiance Is Letting You Go 2X Long On Quantum, And 2X Short On AI, Straight From The CEO
New Leveraged ETFs Launch: Defiance ETFs has introduced two new leveraged single-stock ETFs, RGTX for Rigetti Computing Inc. and SMCZ for Super Micro Computer Inc., targeting traders interested in quantum computing and AI infrastructure respectively.
Market Strategy Insights: CEO Sylvia Jablonski emphasized that these products cater to sophisticated short-term traders seeking to capitalize on high-volatility tech stocks, with RGTX focusing on early-stage innovation and SMCZ allowing for hedging against potential market corrections.
ETFs Last Week: Wall Street Whipsaws, Dollar Under Siege, Yet These 5 Funds Won
Impact of Trade Tariffs: President Trump's rising trade tariffs have caused volatility in financial markets, affecting the dollar's strength and Treasury yields, while investor sentiment has been negatively impacted by China's counter-tariffs.
Top Performing ETFs: Several niche ETFs performed well amidst market turmoil, including those focused on Broadcom, gold strategies, quantum computing, and corn futures, capitalizing on trends like semiconductor demand, inflation fears, and agricultural speculation.
