Shares of Rigetti Computing (RGTI) surged 5.11% in pre-market trading on Thursday, riding a wave of enthusiasm for quantum computing stocks following positive remarks from Nvidia CEO Jensen Huang. The movement comes amid a broader rally in the quantum computing sector, with Rigetti positioning itself as a key player in this rapidly evolving industry.

Huang's statement at the GTC Paris 2025 conference on Wednesday that "quantum computing is at a turning point" marked a significant shift from his previously cautious stance. He suggested that quantum systems could be applied to solve intriguing problems in the coming years, a stark contrast to his January prediction that practical applications were still about 20 years away. This change in outlook has catalyzed investor interest in quantum computing companies, with Rigetti being a notable beneficiary.

Rigetti Computing, despite posting an operating loss of $21.6 million in Q1 2025, has garnered attention for its strong financial position and innovative approach to quantum computing. The company recently completed a $350 million equity offering, bringing its total cash and investments to approximately $575 million with zero debt. This substantial war chest positions Rigetti to fund its ambitious development plans and potentially emerge as a leader in the quantum infrastructure space. As the quantum computing market is projected to unlock up to $1.3 trillion in value by 2035, Rigetti's modular architecture and full-stack development capabilities could prove crucial in capturing a significant portion of this growing market.