Quantum Computers on the Rise: Rigetti Computing Surpasses NVIDIA

Wall Street's interest in quantum computing technology is growing rapidly. Market participants expect quantum computers to have a similar impact next year as generative artificial intelligence. This has led to shares of Rigetti Computing significantly outperforming those of NVIDIA this year. While Rigetti rose an impressive 495.3%, NVIDIA increased by 'only' 164.7%. The rise in NVIDIA's shares can be attributed to the increasing sales of graphics processors for data centers in the booming AI sector. But what is behind the surge in Rigetti's shares, and is an investment worthwhile in the coming year? Quantum computers use quantum mechanics to solve problems faster than traditional computers. Recently, a potential breakthrough in quantum computing research at Alphabet gave a boost to stocks like Rigetti. The company claims that its chip, named Willow, reduces error rates, paving the way for large-scale quantum computers. Furthermore, interest in quantum computing increased with Amazon's Quantum Embark program, designed to help organizations integrate quantum computing according to their needs. The initiative by US lawmakers to provide additional funding of $2.7 billion also positively impacted Rigetti. The global market for quantum computing is currently estimated at $1.3 billion and is expected to grow to $5.3 billion by 2029. McKinsey even forecasts a market volume of $1.3 trillion by 2035. Rigetti Computing is well-positioned to benefit from this growth. The company provides developers with access to quantum computing resources and has already established an easily accessible Quantum Cloud Services platform. Recently, Rigetti introduced its Novera processor with 9 qubits and plans to launch an 84-qubit system as well as an even more powerful 336-qubit system.