The gains came after Nvidia CEO Jensen Huang triggered a selloff in quantum computing stocks earlier this week with his remarks about the technology’s development.

Rigetti Computing is at the forefront of the quantum computing industry, but the company has a speculative stock valuation.

Quantum computing was one of the hot trends of the past few months as stocks have doubled or more following Alphabet's (NASDAQ: GOOG) Willow announcement. Investors looking for any way to play the quantum computing space have pushed microcap stocks into the stratosphere.

Rigetti Computing's technology roadmap aims to enhance its market position with significant milestones in 2025, including a 36-qubit and 100-qubit system.

Rigetti Computing, IonQ, and other quantum stocks plunged after Nvidia CEO Jensen Huang told Wall Street analysts that “very useful quantum computers” are likely 20 years away.

The carnage in quantum computing stocks Wednesday saw shares of Rigetti Computing (NASDAQ:RGTI), Quantum Computing (NASDAQ:QUBT), and IonQ (NASDAQ:IONQ) plunge 40% or more. Comments made by Nvidia (NASDAQ:NVDA) CEO Jensen Huang that the sector won’t see viability for another two decades gutted these former high-flying stocks.

Rigetti Computing (NASDAQ: RGTI) stock posted explosive gains across 2024. The quantum computing company's share price closed out the year's trading up 1,449.4%, according to data from S&P Global Market Intelligence.

Rigetti Computing (RGTI) is an integrated full-stack quantum computing company that focuses on designing and developing quantum chips. It was the first company to develop a multi-chip quantum processor.