American Stock Leaps After Signing Agreement With India's CDAC For High-Performance Quantum Computing
While Indian origin CEO of Rigetti Computing expressed confidence in Quantum Computing and the project, the stock counters have soared by nearly 15 percent in American markets.
AI rendered image of Quantum Computing | AI
Stocks of Rigetti Computing were quoting nearly 15% higher or $19.09 apiece in trade on the tech-focused Nasdaq exchange. Stocks of Rigetti Computing have surged to an 8-month high aided by consecutive gains made in the week so far. Today is the third-day on trot that stocks of Rigetti have traded higher.
In the intra-day session, stocks of Rigetti touched a high of $21. Tech focused, especially AI and Quantum computing stocks have had a good week so far in financial markets.
Two days ago, the company announced news of a Memorandum of Understanding with India's Centre for Development of Advanced Computers (CDAC) for high-end hybrid quantum computing systems. Such systems could be used to power government, academic and R&D capabilities.
Rigetti Corporation was founded by Physicist Chad Riggeti in 2013 and is helmed currently by Dr Subodh Kulkarni, CEO and President. Dr Kulkarni holds a PhD from the prestigious MIT and had completed his BS in Chemical Engineering from IIT Mumbai.
Published on: Saturday, September 13, 2025, 10:07 PM ISTRECENT STORIES
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