Rigetti Computing (RGTI) shares surged 9.29% in pre-market trading on Wednesday, following the company's announcement of a significant technological breakthrough in quantum computing. The quantum technology firm has successfully achieved its midyear goal, demonstrating a substantial improvement in its quantum computing capabilities.

Rigetti reported reaching 99.5% median two-qubit gate fidelity on its new 36-qubit system, effectively halving the error rate for two-qubit operations compared to its previous 84-qubit Ankaa-3 chip system. This achievement marks a crucial step forward in the field of quantum computing, where reducing error rates is essential for practical applications.

The company's new system utilizes four 9-qubit chips, known as chiplets, which paves the way for building larger quantum systems. Rigetti stated that this architecture enables them to construct systems with over 100 qubits, signaling potential for more powerful quantum computing capabilities in the near future.

Looking ahead, Rigetti has announced plans to launch its new 36-qubit system on August 15. Furthermore, the company remains on track to release its 100+ qubit chiplet-based system before the end of 2025, underlining its commitment to advancing quantum computing technology. These developments have clearly excited investors, as reflected in the stock's pre-market surge.