Shares of Rigetti Computing (RGTI) surged 10.28% in pre-market trading on Wednesday, driven by a combination of company-specific news and broader industry optimism. The quantum computing firm announced the completion of a $350 million at-the-market equity offering, significantly bolstering its financial position.

Rigetti stated that with this additional funding, it will have approximately $575 million in cash, cash equivalents, and available-for-sale investments with no debt. The company intends to use the proceeds primarily for working capital, capital expenditures, and other general corporate purposes, positioning itself well to support the commercial scale-up of its superconducting gate-based quantum computers.

Adding fuel to the rally, Nvidia CEO Jensen Huang's comments at the VivaTech conference in Paris sparked enthusiasm across the quantum computing sector. Huang reiterated that quantum computing technology is at an inflection point, stating, "We are within reach of being able to apply quantum computing in areas that can solve some interesting problems in the coming years." This optimistic outlook marks a significant shift from Huang's more cautious stance earlier this year, and has led to a broader rise in quantum computing stocks, with Rigetti benefiting from the positive sentiment.