UBER - Rigetti (RGTI) Stock Pops on New Quantum Computing Partners
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Rigetti (NASDAQ:RGTI) stock is getting a boost on Friday after the company revealed it found new partners for its quantum computing efforts.
First up is a partnership with Bluefors. This will have the two working together to develop modular dilution fridges. The goal is to use these fridges to support the company’s 336Q, 1,000+ qubit, and 4,000+ qubit quantum processing units.
In addition to that, Rigetti also revealed an agreement with Nvidia (NASDAQ:NVDA). This will have them collaborating on a hybrid GPU-QPU workflow. This will be used for climate modeling and is based on weather modeling application research by Rigetti.
Chad Rigetti, founder and CEO of Rigetti, said the following in a news release.
“As a trailblazer in quantum, Rigetti is focused on delivering performance at scale with the goal of becoming the industry standard. We are making strategic investments in quantum hardware, software, and partnerships that we believe will enable us to progress toward Quantum Advantage.”
RGTI Also Revealed Business Updates
Adding to this, Rigetti also announced Keysight’s True-Q error mitigation software will be integrated into its Rigetti QCS. This will be the first third-party tool added to the QCS platform. This should happen in the coming months.
RGTI is seeing decent trading today with more than 1 million shares on the move as of this writing. That’s above its daily average trading volume of about 961,000 shares.
RGTI stock is up 1.5% as of Friday afternoon after experiencing a sharp drop this morning.
There’s more recent stock news traders need to know about below!
InvestorPlace is home to all the latest stock market happenings for Friday! Among them are what has shares of Applied Optoelectronics (NASDAQ:AAOI), Nabriva Therapeutics (NASDAQ:NBRV), and Uber Technologies (NYSE:UBER) stock moving today. You can catch up on all of that at the following links!
More Friday Stock Market News
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- UBER Stock Falls 5% on Major Cybersecurity Breach
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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