Rigetti Computing (RGTI) shares rose 9.9% on heavy volume Thursday.
A new $2 billion U.S. government program to support the quantum computing industry drove the rally. This federal investment improved market sentiment for domestic quantum firms.
The company reported a 199% year-over-year revenue increase in the first quarter. Rigetti also recently announced the general availability of its 108-qubit Cepheus-1 system.
Analysts project revenue will grow 241% in 2026. Increased government contracts and commercial adoption support these long-term growth forecasts.