Rigetti Stock’s $100 Million Weekend Question: Can RGTI Hold Its Quantum Rally?
Rigetti Computing shares surged 19.87% Friday to $26.42, up 48% for the week, after signing a letter of intent with the U.S. Commerce Department for up to $100 million in quantum research funding. The move followed news that Washington will invest $2 billion in nine quantum firms, including Rigetti. The company reported a Q1 operating loss of $26 million on $4.4 million revenue. The Commerce deal remains subject to final agreements.