Rigetti Computing Stock Soars To Record High After Quantum AI Breakthrough: Retail Bulls Eye ‘New Gold Rush’

Shares of Rigetti Computing soared 45% on Tuesday, reaching a record high of $6.80 in midday trading, as the company announced that it had successfully used AI to automate the calibration of a quantum computer. 

This marks the stock's fourth consecutive session of gains, with the last three hitting new highs. 

Rigetti was the top trending ticker on Stocktwits on Tuesday, registering an over 900% increase in message volume over the last 24 hours and a 4.6% uptick in watchers. 

Rigetti Computing's Stock Movement Year-To-Date | Source:TradingView

Rigetti and Quantum Machines successfully automated the calibration of a 9-qubit Rigetti Novera quantum processing unit (QPU) using AI tools developed by Quantum Elements and Qruise.

This automation was part of the "AI for Quantum Calibration Challenge" hosted at the Israeli Quantum Computing Center.

The automated calibration achieved 99.9% single-qubit gate fidelity and 98.5% two-qubit gate fidelity, demonstrating the effectiveness of AI in enhancing quantum system performance. 

This means that using AI quantifiably helps improve how well quantum computers work. The higher these accuracy percentages are, the better the quantum gates can do their jobs correctly.

The need for AI in Quantum systems stems from their high sensitivity to noise and imperfections, which can lead to errors in computations. 

AI can optimize the calibration process, ensuring that quantum gates operate with higher fidelity and reducing systematic errors, thus improving overall accuracy in quantum operations.

It also drastically reduces the time and effort required for manual tuning. 

Rigetti Computing Sentiment and Message Volume on Dec 10 as of 9:15 a.m. ET | Source: Stocktwits

Retail sentiment around the stock surged into the ‘extremely bullish’ (87/100) territory as chatter remained ‘high.’

Users on Stocktwits characterized the development as the “new gold rush,” with many anticipating the bull run would continue, resulting in fresh highs in the near future. 

Rigetti’s stock has already gained nearly 600% so far this year as investors grow bullish on the company’s advancements in quantum technology.

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