🟢 RGTI is trading 16.9% up today after securing a potential $100M in U.S. government funding

Rigetti Computing (RGTI) is trading 16.9% higher at $25.77 after the company announced major developments that have fueled a multi-day rally.

• $100M Government Funding: Rigetti signed a letter of intent with the U.S. Department of Commerce for up to $100 million in direct funding under the CHIPS and Science Act to accelerate its quantum computing research and development.
• Sector-Wide Catalyst: The funding is part of a broader government initiative to bolster the U.S. quantum computing industry, lifting several stocks in the sector.
• Manufacturing Expansion: The company also announced the purchase of a new atomic layer etch (ALE) system from Oxford Instruments to expand its in-house quantum device fabrication capabilities.