Shares in Rigetti Computing have soared after achieving a 99.5% median two-qubit gate fidelity on its modular 36-qubit system. This marks a significant milestone in quantum computing, leading to a 30% increase in stock value. Rigetti CEO Subodh Kulkarni highlighted the benefits of superconducting qubits and scalability for future advancements.

While AI remains in the spotlight, quantum computing is gaining attention for its potential to revolutionize computing capabilities. Companies like Rigetti, D-Wave, Cisco, IBM, Microsoft, and Google are all investing in quantum technologies with the goal of increasing computing power on a massive scale for various applications such as drug development and material discovery.

Quantum computing, once largely theoretical, is now backed by tangible progress. Rigetti’s recent achievement follows D-Wave’s claim of “quantum supremacy,” although this claim has been challenged. Despite this, investors have shown confidence in quantum computing technologies, with D-Wave’s stock rising over 191% in the last six months.

The race for quantum computing dominance is heating up with major players making significant advancements. Rigetti’s recent milestone is a clear indication of the progress being made in the field, sparking investor interest and driving stock prices higher. With quantum computing becoming more feasible, the future of computing looks promising.

Read more at Yahoo Finance: Why shares took a quantum leap today