Shares of Rigetti Computing (RGTI) surged 5.11% in pre-market trading on Thursday, riding the wave of renewed optimism in the quantum computing sector. The rally was primarily fueled by Nvidia CEO Jensen Huang's bullish comments on quantum computing, marking a significant shift from his previously cautious stance.

During his speech at the GTC Paris 2025 on Wednesday, Huang declared that "quantum computing is at a turning point," suggesting that the technology could be applied to solve intriguing problems in the coming years. This statement represents a dramatic reversal from his January prediction that practical applications of quantum computers were still about 20 years away. Huang's newfound optimism has sent ripples through the quantum computing industry, benefiting companies like Rigetti.

Rigetti's strong market position and financial health have also contributed to investor confidence. The company recently completed a $350 million equity offering, bolstering its war chest to approximately $575 million in cash with zero debt. This substantial funding is expected to support Rigetti's ambitious path to scale in the capital-intensive quantum computing sector. Despite reporting an operating loss of $21.6 million in Q1 2025, the company's modular approach to quantum processor design and its vertical integration strategy have positioned it as a potential leader in the industry, which is projected to unlock up to $1.3 trillion in value by 2035.