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5d ago

Rigetti Stock Jumps 14% to Eight-Month High as C-DAC Tie-Up Draws Attention

The move was attributed to investor positioning rather than a new revenue catalyst, according to the report.

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Overview

  • Rigetti shares closed at $19.09 on Friday, up 14.38% on the day.
  • The stock touched an intraday high of $20.13, about $1.29 below its 52-week peak of $21.42.
  • Coverage said investors were loading positions despite no fresh catalyst being identified.
  • Earlier this month Rigetti announced a collaboration with India’s C-DAC to co-develop hybrid quantum–HPC systems for government labs and academic research.
  • CEO Subodh Kulkarni said combining C-DAC’s high-performance computing capabilities with Rigetti’s superconducting quantum systems aims to enable practical hybrid computing.