🟢 RGTI shares surge 10%, extending rally after company confirms up to $100M in federal funding

Rigetti Computing is extending its sharp rally after the company confirmed a major federal funding award, sparking investor enthusiasm.

• Rigetti announced it signed a letter of intent with the U.S. Department of Commerce for up to $100 million in funding under the CHIPS and Science Act. [12, 14, 16]
• The award is intended to accelerate research and development for the company's superconducting quantum computers over three years. [12]
• The news is part of a broader $2 billion federal investment plan across nine quantum computing companies, which has lifted the entire sector. [4, 10, 11]