Rigetti Computing's Nvidia Partnership Puts Stock on Rebound Track

Rigetti Computing (RGTI) has seen its stock plummet to a 52-week low of $12.53 in March, but recent developments suggest it's poised for a rebound.

The company's partnership with Nvidia is a key factor behind this optimism, as the two firms work together to bring quantum computing capabilities to AI supercomputers using NVQLink.

Rigetti uses superconducting qubits in its quantum processing units (QPUs), which have several advantages over other approaches. This technology can leverage existing semiconductor chip manufacturing processes and allows for faster and more scalable quantum computers.

The company's collaboration with Nvidia has helped it post revenue of $5.1 million in the second quarter, up from $1.8 million in 2022. Additionally, Rigetti was selected to receive funding under the CHIPS and Science Act, which will support its development of hybrid quantum-classical supercomputers.