Rigetti Computing shares surge on US quantum funding optimism
The stock rose 9.79% to $27.03 on May 28, 2026, driven by a $2 billion US grant programme and broad strength among peers IonQ and D-Wave.
Rigetti Computing shares rose 9.79% to close at $27.03 on May 28, 2026, extending a rally that has seen the stock surge more than 60% over the preceding week. The movement was driven by optimism surrounding a U.S. government funding programme for domestic quantum firms, which includes grants to Rigetti to spur innovation in the sector.
Trading activity was significantly elevated, with volume reaching 85.2 million shares, approximately 146% above its three-month average of 34.7 million shares. The company, which went public in 2021, has grown 173% since its initial public offering, reflecting sustained investor interest in its superconducting quantum processors.
The broader market also gained ground, with the S&P 500 rising 0.58% to 7,564 and the Nasdaq Composite increasing 0.91% to 26,917. The quantum computing sector posted broad strength, with peers IonQ closing up 7.25% at $70.14 and D-Wave Quantum gaining 7.31% to end at $29.49.
The U.S. government announced it would award more than $2 billion in grants to nine quantum firms, including Rigetti, to bolster domestic capabilities. Boston Consulting Group forecasts that the quantum market could create $450 billion in economic value by 2040, though analysts note that speculative investments in the emerging technology are prone to dramatic price swings.
Despite the recent momentum, The Motley Fool’s Stock Advisor analyst team identified 10 best stocks to buy, but Rigetti Computing was not included in the list. The Motley Fool disclosed that it has positions in and recommends IonQ, while noting that investing in new technologies involves significant uncertainty regarding which companies will ultimately lead the industry.
