TLDR
- CNBC’s Jim Cramer shifted his stance on Rigetti Computing, calling it a potential “home run” after previously labeling it “the worst one”
- Stock jumped 9.6% Thursday following Cramer’s comments on Mad Money
- Rigetti launched its most powerful 36-qubit quantum computer system commercially this month
- Company partnered with Montana State University to deploy quantum processor at their research center
- Rigetti remains on track to launch 100+ qubit system by end of year
Rigetti Computing stock surged Thursday as CNBC host Jim Cramer completely reversed his previous negative stance on the quantum computing company. The stock climbed 9.6% by mid-afternoon trading.
Cramer’s comments on Mad Money marked a dramatic shift from his earlier position. He had previously called Rigetti “the worst one” among quantum computing stocks earlier this year.
On Wednesday’s show, Cramer struck a different tone entirely. “Rigetti could have something that could be a home run,” he said during the broadcast.
The host added that RGTI “is one that could have a headline tomorrow” and said he didn’t want to keep investors out of potential gains. While still calling it speculative, his tone was notably more positive.
The stock has gained roughly 19% over the past three months despite experiencing considerable volatility. Thursday’s surge came after the stock had already been up as much as 12.2% earlier in the session.
Rigetti faced major headwinds in January when Nvidia CEO Jensen Huang suggested quantum computing might take decades to achieve practical use. The comments sent quantum stocks tumbling across the board.
Recent Technology Developments
The company has made progress on its quantum computing platform in recent months. Rigetti announced its Cepheus-1-36Q system became commercially available with its second-quarter earnings report this month.
The 36-qubit multichip quantum computer represents the company’s most powerful system to date. Rigetti claims the platform offers industry-leading performance capabilities.
The system will serve as the foundation for launching Rigetti Quantum Cloud Services Platform on Microsoft Azure. This cloud integration represents a key step in making quantum computing more accessible to businesses.
Rigetti remains on schedule to launch its 100+ qubit system before the end of 2025. The larger system would represent another leap forward in the company’s quantum computing capabilities.
University Partnership Adds Credibility
The company recently partnered with Montana State University to advance quantum computing research. The partnership coincides with MSU’s launch of its Quantum Core Research and Education Center.
MSU now houses an on-site Rigetti quantum processor as part of the collaboration. This marks a real-world deployment of Rigetti’s technology in an academic research setting.
The university partnership could help boost Rigetti’s credibility and visibility in the quantum computing space. Academic partnerships often serve as proving grounds for emerging technologies.
For investors, the partnership signals growing institutional interest in Rigetti’s quantum platform. The move helps transition the company from purely speculative concept to practical technology contributor.
The financial impact of the MSU partnership remains unclear at this stage. However, it represents progress in finding real-world applications for Rigetti’s quantum systems.
Rigetti stock remains a high-risk investment in the quantum computing sector. The company faces steep competition and uncertain timelines for widespread quantum adoption.
Cramer’s shift reflects both the volatility and evolving narrative around quantum computing stocks. The Montana partnership adds legitimacy while the company continues developing more powerful quantum systems.
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