Rigetti Computing is expanding its collaboration with Hewlett Packard Enterprise and the Pittsburgh Supercomputing Center to supply a 9-qubit Novera quantum computing system for the TangleLab testbed. This development provides a tangible, government-funded project for Rigetti, enhancing its market position and offering a potential catalyst for its stock, especially given the broader positive sentiment in the quantum computing sector.
Rigetti Computing (RGTI) announced an expanded collaboration with Hewlett Packard Enterprise (HPE) and the Pittsburgh Supercomputing Center, providing a 9-qubit Novera quantum computing system for the TangleLab testbed. This is a significant positive development for RGTI as it secures a concrete, government-funded project ($5 million NSF grant) that validates its technology and expands its market reach. The news also contributes to a sector-wide rally in quantum computing, benefiting peers like D-Wave Quantum Inc. (QBTS) which recently announced a commercial agreement with AT&T (T). For traders, this provides a short-term catalyst for RGTI, potentially reversing its bearish long-term trend, and offers a positive sentiment boost for the nascent quantum computing sector. The long-term implications depend on the success and further expansion of such collaborations.