Shares of little-known Rigetti Computing surged on Tuesday as enthusiasm for quantum computing surged following Google’s big announcement. Rigetti last traded up more than 48%, on track for its second-biggest one-day gain ever. On November 25, the stock soared more than 58%, marking its best trading day ever. Google said late Monday that its new chip, called Willow, marks a breakthrough in quantum computing. According to the search giant, semiconductors “can reduce errors exponentially as we scale to use more qubits.” Qubits, or qubits, are the units used to encode data in such computers. RGTI YTD mountain RGTI So far this year “Willow has completed a standard benchmark calculation in less than five minutes that would have taken one of today’s fastest supercomputers a billion years — a number that far exceeds the size of the universe. Age,” Google claims. To be sure, quantum computing doesn’t have any practical applications yet. However, hedge fund manager Eric Jackson sees great promise in the field of quantum computing. “Quantum computing is the next take-off theme after cryptocurrency and artificial intelligence. Many quantum names are hot this week and today,” Jackson, who runs EMJ Capital, posted on the social media platform X. , they have a huge opportunity in front of them, but the market cap is only $1 billion.
