Rigetti Computing aims to revolutionize quantum computing, facing challenges but showing potential growth

From Nasdaq: 2024-11-28 05:50:00

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Rigetti Computing, a quantum computing stock, has seen an 80% rally this year. Quantum computing, with its simultaneous processing of data, has the potential to revolutionize computing but faces challenges in cost and reliability.

Rigetti Computing, founded by physicist Chad Rigetti, is taking a “full-stack” approach to quantum computing. It designs and manufactures quantum integrated circuits, offering developers a platform to write their own quantum algorithms.

Rigetti has faced setbacks, including revenue declines and leadership changes. However, the company has launched new quantum processing units (QPUs) and aims to deploy more powerful systems in the coming years.

Analysts project revenue declines in 2024 but anticipate growth in 2025 and 2026 as Rigetti scales up its business. Despite potential growth, the stock remains pricey at 9 times its 2026 sales.

While Rigetti has ambitious goals in the quantum computing market, its success is uncertain. Investors should approach this speculative play with caution, as it could yield significant gains or result in losses.

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Read more at Nasdaq: Could Rigetti Computing Become the Next Nvidia?