1 Quantum Stock Near 52-Week Lows With Nvidia Partnership Backing Is Poised to Rebound
Rigetti Computing has enjoyed a string of recent successes.
Overview
Quantum computers hold the potential to transform the computing industry in as dramatic a fashion as artificial intelligence, perhaps more so. The promise of these machines is that they will harness quantum mechanics to solve extremely complicated calculations in minutes that would take today's best supercomputers centuries.
That potential was a contributing factor to shares of Rigetti Computing (NASDAQ: RGTI) soaring to a 52-week high of $58.15 last year. Since then, though, the stock has tumbled, reaching a 52-week low of $12.53 in March. It still trades near the lower end of that range, despite working with semiconductor chip leader Nvidia to bring quantum computing capabilities to AI supercomputers.
Details
The situation appears poised to change, however. The company has made strides that point to a rebound in share price ahead.
Source
Originally published at www.fool.com.