Why Rigetti Computing Stock Is Skyrocketing Today
Shares of Rigetti Computing (NASDAQ: RGTI) are soaring on Thursday. The company's stock has jumped 28.9% as of 1:38 p.m. ET. The spike comes as the S 500 and Nasdaq Composite are mostly flat.
The quantum computing pioneer announced it has achieved a significant milestone in its development of commercially viable quantum computing.
The company announced that it ha achieved "99.5% median two-qubit gate fidelity on its modular 36-qubit system," which it says means it has cut its error rate in half compared to its previous record. Gate error is a major barrier to quantum computing achieving viability outside the lab. While 99.5% accuracy seems high, a classical computer has an error rate many, many orders of magnitude lower.
Source Fool.com
