After Receiving $100 Million From the Trump Administration, Is Rigetti Computing Stock a Screaming Buy?
The federal government is using $2 billion from the CHIPS Act to fund research in quantum computing.
After Receiving $100 Million From the Trump Administration, Is Rigetti Computing Stock a Screaming Buy?
Overview
Last month, the Department of Commerce announced plans to invest up to $2 billion across nine quantum computing businesses over the next three years. Among these companies is Rigetti Computing (NASDAQ: RGTI), which is set to receive $100 million in CHIPS Act funding tied to certain research and development (R&D) milestones for its superconducting quantum systems.
This gives a level of credibility to Rigetti's technology and is a strategic alignment with national priorities related to artificial intelligence (AI).
Details
Smart investors are asking whether this news alone makes the stock an immediate buy. A closer examination of the funding's purpose, its potential applications, and Rigetti's current valuation reveals a more nuanced picture.
Source
Originally published at www.fool.com.
