Quantum Computing and Rigetti Computing turned out to be two of the biggest winners of the year as we close off another wild one for the stock market. QUBT and RGTI stock have skyrocketed 1,786% and 1,647% respectively. Inspired by advances, investor excitement, and speculative trading, quantum computing stocks have lately exploded. Alphabet's revelation of its "Willow" quantum chip—capable of tackling difficult problems in minutes—was a major impetus. Alphabet and other emerging businesses in the niche are positioned as leaders in this fast-evolving sector, which will continue attracting investor attention.
Government contracts add to the sector's legitimacy. Further proving the practical uses of quantum technology, Quantum Computing Inc. landed a NASA contract to utilize its quantum optimization machine for better imaging and data processing. Still, a lot of the thrill is hypothetical. Rushing to seize the potential of quantum computing, investors are driving volatility in stock prices.
