The quantum computer sector is hot, helping to propel Rigetti Computing’s shares by more than 1,500% in the past year.
The company unveiled a powerful quantum computer that puts Rigetti a step closer to achieving quantum advantage.
Rigetti faces declining revenue and rising costs, but exited Q2 with substantial cash and investment reserves of over $570 million and no debt.
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Rigetti Computing (NASDAQ: RGTI) is among the stocks benefiting from investor interest in the quantum computing field. The company’s shares are up over 1,500% in the past 12 months through Aug. 27.
Rigetti and other businesses in the sector are developing technology with the potential to transform industries, including medicine and artificial intelligence. Because quantum computers are powered by atomic particles, they boast computational capabilities beyond the reach of current classical computers.
However, they also have shortcomings that hinder their widespread adoption. One key drawback is that errors creep into quantum computations due to the extreme difficulty of isolating and controlling quantum states. While quantum computing is inherently probabilistic (which is actually useful for many algorithms that rely on randomness), the real challenge is that environmental noise and imperfect controls corrupt these probabilities. Finding and correcting these errors — distinguishing between intended quantum randomness and unwanted noise — is one of the field’s key issues.
Can Rigetti’s tech overcome such challenges? Discovering the answer requires diving into the company in more detail.
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Rigetti’s technology employs superconducting qubits, a widely used approach to quantum computing due to its advantages. This method performs faster than other quantum techniques and leverages existing semiconductor chip fabrication processes, which helps to scale up the technology.
In recent weeks, Rigetti unveiled its latest invention, the Cepheus-1-36Q. This multi-chip quantum machine is…
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