Rigetti Computing (RGTI) stock surged 5.18% in after-hours trading on Wednesday, despite Nvidia CEO Jensen Huang's comments that "very useful" quantum computers are likely 15 to 30 years away from becoming a reality. The after-hours rally reflects investors' optimism about Rigetti's roadmap and future prospects in the rapidly evolving quantum computing space.
Rigetti, a leading player in the quantum computing industry, has unveiled an ambitious roadmap that includes plans to release a 36-qubit system by mid-2025, followed by a 100-qubit system by the end of the year, and eventually a 336-qubit system. Each of these milestones represents a significant increase in computational power, fueling excitement about the company's potential.
While Huang's comments served as a reality check, highlighting the challenges and timeline involved in developing practical quantum computing applications, investors appear to be focusing on Rigetti's long-term potential. The company's stock surged over 400% in December, driven by a quantum computing breakthrough announced by Alphabet's Google and renewed interest in the nascent technology.