Rigetti Computing (RGTI) stock surged 5.02% in pre-market trading on Monday, as investors reacted to speculation about potential strategic investments from the U.S. government in publicly traded quantum computing firms. The surge comes amid growing interest in quantum technology as a critical component of national security and technological advancement.

The Wall Street Journal recently reported that major quantum computing companies, including Rigetti Computing, could soon receive strategic investments from the U.S. government. Although the White House has since denied being in discussions with quantum companies, the news has reignited optimism in the quantum technology sector. This potential government backing is seen as a crucial boost for early-stage quantum computing firms, which are still working towards achieving commercial viability.

For Rigetti Computing, this development could significantly accelerate its progress towards quantum advantage - a critical milestone where quantum computers outperform classical computers in performance or cost. The company's CEO, Subodh Kulkarni, estimates this milestone could be reached in three to five years. With quantum computing poised to revolutionize various fields, including drug discovery, weather forecasting, and cryptography, government support could prove instrumental in maintaining the United States' competitive edge in this emerging technology race against global rivals like China.