Rigetti Shares Jump on $5.8 Million Air Force Contract
By Dean Seal
Shares of Rigetti Computing climbed after the company said it had been awarded a $5.8 million contract by the Air Force Research Laboratory to advance superconducting quantum networking.
The stock was up 16% at $25.43 Thursday. Shares have gained 67% since the start of the year.
The quantum-computing company said before the opening bell that it would be collaborating with QphoX, a Dutch quantum technology startup, on the project.
Quantum networks connect smaller quantum computing systems to solve problems with multiple quantum processors and transmit information between quantum nodes in different geographical regions.
"We are very pleased that AFRL is supporting this technology, which is important for the U.S. to maintain its global leadership in quantum information science," Rigetti Chief Executive Subodh Kulkarni said.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
September 18, 2025 12:49 ET (16:49 GMT)
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