Rigetti Computing Stock News

Artificial intelligence (AI) is transforming the global economy, driving automation, productivity, and creativity. Quantum computers may hold the key to unlocking the next generation of AI technology to tackle highly complex challenges and analyze massive datasets far beyond the reach of classical computers.

Not for the first time in their relatively brief existences, quantum computing stocks shot well higher in value on Thursday. That wasn't due to any fresh innovation, discovery, or major business move.

Quantum computing has a lot of potential to transform the way scientists discover new materials, how researchers discover new drugs, and how doctors cure diseases. These significant opportunities are spurring lots of interest in quantum computing stocks, with Rigetti Computing (RGTI -8.18%) garnering significant attention and soaring 943% over the past year.

Quantum computers hold the potential to evolve artificial intelligence (AI) and the broader computing industry to unprecedented heights. The properties of quantum mechanics enable these devices to execute complex calculations beyond the abilities of the most powerful supercomputers.

If you invested in Nvidia stock on Nov. 30, 2022 and held your position until today, then you would be up on your investment by nearly eightfold. Why that date?

Quantum computing is getting a lot of attention from investors right now as some look for the next big thing in the tech space. The result has been some high-flying quantum computing stocks, with Rigetti Computing (RGTI 2.56%) rising 823% over the past year.

In the first quarter, hedge fund billionaire Israel Englander of Millennium Management sold 1.2 million shares of Rigetti Computing (RGTI 2.56%), reducing his stake in the quantum computing stock by 80%. The sale represented a sharp turnaround from the prior quarter, when Englander purchased 1.4 million shares.

Investing in the stock market requires extraordinary patience. Warren Buffett didn't become a billionaire until decades after purchasing the struggling textile company Berkshire Hathaway and transforming it into a diversified holding company powerhouse.