Rigetti Computing (RGTI) Soars to Fresh High on AI, Quantum Computing Boom

We recently published Market in Pain? Not For These 10 Celebrating Stocks. Rigetti Computing, Inc. (NASDAQ:RGTI) is one of the top performers on Tuesday. Shares of Rigetti Computing, Inc. (NASDAQ:RGTI) soared to a new all-time high on Tuesday as investors continued to load up positions in stocks riding the artificial intelligence and quantum computing wave. In intra-day trading, Rigetti Computing, Inc. (NASDAQ:RGTI) soared to a fresh record of $32.40 before trimming gains to finish the session just up by 10.89 percent at $31.46 apiece. everything possible/Shutterstock.com Investor optimism was largely boosted by Nvidia Corp.’s aggressive expansion into AI. Nvidia Corp. is highly watched by the investing community as its GPUs are behind the development of artificial intelligence. Any move by Nvidia typically influences concerned companies and sectors. In other developments, Rigetti Computing, Inc. (NASDAQ:RGTI) jumped on reports that the US government was keen on updating its quantum computing strategy to create a broader set of actions to improve cybersecurity capabilities against future quantum-enabled hacks and ensure US dominance in the sector. While we acknowledge the potential of RGTI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.