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Rigetti Computing Stock Plummets 8.80% Despite $33.8 Million Trading Volume Ranking 258th

Market BriefMonday, May 5, 2025 8:14 pm ET

1min read

On May 5, 2025, rigetti computing (RGTI) experienced a significant decline, with its stock price dropping by 8.80%. The trading volume for the day was substantial, reaching $33.8 million, which placed it at the 258th position in terms of trading volume for the day.

Rigetti Computing recently closed an investment deal with quanta computer, marking a significant milestone for the company. This investment is expected to bolster Rigetti's financial position and support its ongoing research and development efforts in quantum computing.

In addition to the investment, Rigetti Computing is set to report its first-quarter 2025 financial results on May 12, 2025. The company will also host a conference call to discuss the results, providing investors with insights into its financial performance and strategic initiatives.

Rigetti Computing has been granted an award by the Air Force Office of Scientific Research to further develop breakthrough chip fabrication technology. This award, valued at $5.48 million, will support a consortium led by Rigetti, including Iowa State University, the Royal Melbourne Institute of Technology, the University of Connecticut, and Lawrence Livermore National Laboratory.

Rigetti Computing has also been selected as a winner of Innovate UK's Quantum Missions pilot competition. In collaboration with Riverlane and the National Quantum Computing Centre (NQCC), Rigetti aims to advance quantum error correction capabilities on superconducting quantum computers.

Rigetti Computing has been selected to participate in DARPA's Quantum Benchmarking Initiative. This initiative aims to benchmark quantum computing systems, ensuring they meet the necessary standards for practical applications.

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