Rigetti Just Made A Quantum Leap - Fueling A Rally That's Hard To Ignore

Rigetti Computing Inc. (NASDAQ:RGTI) just flipped the switch on its biggest quantum breakthrough yet – and for once, Wall Street didn't sleep through it. The company's reveal of a 36-qubit modular quantum system with record-setting fidelity has investors scrambling, sending RGTI stock up 14.5% by 10 a.m. ET.

Quantum might still be years from going mainstream, but Rigetti's stock is having its moment right now.

36 Qubits, Big Progress, Real Results

Rigetti has built the largest modular quantum computer yet by linking together four 9-qubit chips to create a 36-qubit system. But it's not just about size—the company also cut its error rate in half, reaching 99.5% accuracy in how its qubits work together. That's a major step toward making quantum computers more reliable.

What makes this even more impressive is that Rigetti isn't just talking about modular quantum design – it's actually delivering. With real data, real performance and a clear path to building a 100+ qubit system by the end of the year, Rigetti is turning big quantum ideas into working technology.

Read Also: Quantum Stock Watch: Bullish Analyst Coverage On IonQ, D-Wave, Rigetti Computing

Bullish Signals Blink Across The Board

Wall Street is finally giving Rigetti its due.

Chart created using Benzinga Pro

The stock surged over 18% in the past month and is flashing strong technical signals. Rigetti's stock is currently trading at $14.44, sitting comfortably above its eight, 20, 50 and 200-day simple moving averages – a strong technical signal indicating bullish momentum.

The Relative Strength Index (RSI) stands at 63.66, suggesting the stock is gaining strength but hasn't yet entered overbought territory. Meanwhile, the Moving Average Convergence Divergence (MACD) reading of 0.50 signals that positive momentum is building, reinforcing the bullish outlook.

Despite a rough YTD (-28%), Rigetti is up 1,025% over the past year, and with today's spike, the bulls are clearly in control.

Quantum Advantage On The Horizon

In a press release shared with Benzinga, Rigetti CEO Dr. Subodh Kulkarni said that true quantum advantage—when quantum computing outperforms classical computing at specific tasks—is still four years away. But today's update is a tangible step in that direction. And with gate speeds 1,000x faster than ion trap competitors, Rigetti's positioning looks more compelling by the day.

The big question now: Can the stock stay hot as the company heads toward August's 36-qubit launch—and that 100+ qubit moonshot later this year?

Read Next:

• What’s Going On With Rigetti Computing Stock Today?

Photo: Shutterstock