Rigetti, D-Wave, and other quantum computing stocks are leaping again: How high will they go?

"Investors in quantum computing stocks are having another great week, with shares in the major publicly traded firms up by double digits over the last 24 hours in most cases. Here's a snapshot of their single-day growth as of the closing bell on Thursday: Rigetti Computing (Nasdaq: RGTI): Up 18.25% D-Wave Quantum Inc (NYSE: QBTS): Up 13.97% IONQ Inc (NYSE: IONQ): Up 10.32% Quantum Computing Inc (Nasdaq: QUBT): 5;32% All four companies were also up in premarket trading on Friday as of this writing."

"The rally is apparently being led in part by Berkeley, California-based Rigetti, which announced a major purchase order on Tuesday for two of its 9-qubit Novera quantum computing systems, which are used in research and development. Rigetti introduced the systems in 2023 and says they're upgradable, meaning the qubit count can be increased. Qubits, or quantum bits, are the basic units on which quantum computers operate. Delivery of Rigetti's two systems are expected by early next year. The purchase order totaled $5.7 million, the company said. While that might not seem like a giant sum, it's another sign that somebody, somewhere sees practical uses for quantum computing technology, which has remained largely theoretical until relatively recently. Rigetti did not say who purchased the systems, only that one customer was an Asian company that builds manufacturing tech and the other was an AI startup based in California."

"In addition to Rigetti's announcement, D-Wave announced the results of a "proof-of-technology" joint project with the North Wales Police in the U.K. The project leveraged hybrid quantum technology to help optimize the placement of police vehicles. "The hybrid-quantum technology delivered a faster, more accurate, and more efficient solution than classical meth"

Public quantum computing stocks posted strong single-day gains, with Rigetti up 18.25%, D-Wave up 13.97%, IONQ up 10.32%, and Quantum Computing Inc showing a smaller increase. Rigetti received a $5.7 million purchase order for two 9-qubit Novera systems, described as upgradable and intended for research and development, with deliveries expected by early next year. One buyer was an Asian manufacturing-tech company and the other an AI startup in California. An analyst at B. Riley reiterated a Buy rating for Rigetti. D-Wave reported a proof-of-technology project with North Wales Police using hybrid quantum methods to optimize vehicle placement.

Read at Fast Company