Rigetti Computing (RGTI) Gets Boost from Fed Rate Cut Signals

We recently published 10 Stocks Beating Wall Street at its Own Game. Rigetti Computing, Inc. (NASDAQ:RGTI) is one of the top performers of Tuesday.

Rigetti Computing saw its share prices increase by as much as 6.08 percent on Tuesday before slight selling pulled its prices to end slightly lower at $15.30 apiece, as investors continued to price in the benefits of looming Fed rate cuts

The quantum computing industry, which includes Rigetti Computing, Inc. (NASDAQ:RGTI), remains in pre-revenue stages and often relies on debt to finance growth and expansion plans. Following the central bank’s announcement, investors gobbled up positions in stocks expected to benefit from lower borrowing costs.

Photo by Mika Baumeister on Unsplash

In other developments, Rigetti Computing, Inc. (NASDAQ:RGTI) recently sealed a partnership with the Montana State University to advance quantum computing research and innovation.

Under the agreement, Rigetti Computing, Inc. (NASDAQ:RGTI) and Montana State University will collaborate on various initiatives, including research projects related to quantum hardware and hybrid quantum systems, workforce development activities, and co-development and testing of enabling technologies and quantum system components.