Rigetti Computing (RGTI) saw its stock surge 5.15% in pre-market trading on Tuesday, riding the wave of a broader rally in quantum computing stocks. This upward movement follows a significant surge in the sector on Monday, indicating growing investor interest in quantum technology companies.

The rally in quantum computing stocks appears to be driven by recent developments in the industry. D-Wave Quantum, a competitor in the quantum computing space, announced on Tuesday that its sixth-generation quantum system had become available over the cloud. This milestone marks another step forward in the race to develop commercially viable quantum computers, potentially boosting investor confidence in the entire sector.

Adding fuel to the quantum computing fire, reports surfaced that Nvidia, a major player in the tech industry, is in advanced negotiations to invest in PsiQuantum, a quantum computing startup. This news, reported by The Information, citing sources familiar with the matter, has likely contributed to the positive sentiment surrounding quantum computing stocks, including Rigetti Computing.

While Rigetti Computing faces competition from tech giants like Microsoft in the quantum computing field, the current market enthusiasm seems to be lifting all boats in the sector. Investors appear to be betting on the potential of quantum computing to revolutionize various industries, from artificial intelligence to cryptography, despite the technology still being in its early stages of development.