Shares of Rigetti Computing (RGTI -0.32%) are skyrocketing on Thursday. The quantum computing start-up's stock surged 10.5% as of 2:50 p.m. ET and was up as much as 12.3% earlier in the day. The rise comes as the S&P 500 gained 1.3% and the Nasdaq Composite rose 1.8%.
The quantum computing company is rallying after its industry peer reported positive earnings Thursday. The stock is also seeing a boost from President Donald Trump's U.K. trade deal.
D-Wave's record quarter lifts all quantum boats
D-Wave Quantum reported strong quarterly results, beating expectations. The company announced revenue of $15 million for its first quarter of 2025, a 509% increase from the $2.5 million reported in the same period last year.
D-Wave's CEO, Alan Baratz, called it "arguably the most significant [quarter] in D-Wave's history," highlighting that the company had demonstrated "quantum supremacy" over classical computing on a useful real-world problem -- a significant milestone for the industry at large.
Trump trade deal boosts optimism
Adding to the positive momentum, Trump unveiled the outline of a trade deal with the United Kingdom on Thursday. While much of it focused on traditional industries like agriculture, the deal includes provisions related to intellectual property protection that could benefit Rigetti and other quantum stocks.
Image source: Getty Images.
There's a long way to go
Despite the positive news from D-Wave and its demonstration of "quantum supremacy," it was extremely limited in its scope. It will be a long time before quantum technology matures to the point where it delivers major economic benefits.
If you are an investor with a particularly high risk tolerance and the ability to possibly wait a decade or more for your investment to pay off, Rigetti is one of the better quantum stocks on the market. However, I would strongly suggest spreading your investment around many quantum stocks, as there is no way to tell at this point which company's approach will work in the long run.
