Why Rigetti Computing Popped Today
The federal government invest $100 million into the company.
Overview
Shares of Rigetti Computing (NASDAQ: RGTI) were moving higher today after the quantum computing company secured $100 million in CHIPS Act funding, along with quantum peer D-Wave Quantum, showing the sector becoming the latest to receive interest from the federal government, which had previously taken stakes in chip stocks like Intel and GlobalFoundries.
As of 9:54 a.m. ET, Rigetti Computing stock was up 7.9% after gaining as much as 12.2% earlier in the morning.
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Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.