On July 27, Rigetti Computing rose 7.07% in regular trading, trading at $15.3395/share, with turnover of $33.39 million. The stock rallied following a series of announcements signaling expanded partnerships and infrastructure development in quantum computing.

Rigetti disclosed that it will deliver a 9-qubit Novera quantum processing unit to the Pittsburgh Supercomputing Center, funded by a $5 million grant from the National Science Foundation. Simultaneously, the company announced an expanded collaboration with Hewlett Packard Enterprise and the Pittsburgh Supercomputing Center to build a new hybrid quantum-classical supercomputer, marking a significant step in computational technology convergence. Additionally, Rigetti revealed that its Tanglelab facility is scheduled to break ground on September 1, with full operations targeted for next year.

These developments come ahead of Rigetti's second-quarter earnings report scheduled for August 6. The company has been a beneficiary of broader government support for quantum computing, having previously surged 31% in May when the U.S. Department of Commerce announced industry funding initiatives.

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