BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Rigetti Computing Stock Surges on Air Force Quantum Networking Contract
Rigetti Computing Stock Surges on Air Force Quantum Networking Contract
18
3
BTCCSquare news:
Rigetti Computing shares jumped 15.4% Friday after securing a $5.8 million Air Force Research Laboratory contract for quantum networking development. The three-year project partners with Dutch startup QphoX to explore information transfer between quantum computers—a moonshot research initiative CEO Subodh Kulkarni describes as "very much in the R&D phase."
Investor enthusiasm contrasts with Rigetti's speculative valuation. The company trades at 779 times sales despite generating just $10.8 million in 2023 revenue. Quantum computing's long development horizon suggests current market caps may reflect HYPE more than near-term commercial viability.
By:
