American Stock Leaps After Signing Agreement With India’s CDAC For High-Performance Quantum Computing

Stocks of Rigetti Computing were quoting nearly 15% higher or $19.09 apiece in trade on the tech-focused Nasdaq exchange. Stocks of Rigetti Computing have surged to an 8-month high aided by consecutive gains made in the week so far. Today is the third-day on trot that stocks of Rigetti have traded higher.

In the intra-day session, stocks of Rigetti touched a high of $21. Tech focused, especially AI and Quantum computing stocks have had a good week so far in financial markets.

Two days ago, the company announced news of a Memorandum of Understanding with India’s Centre for Development of Advanced Computers (CDAC) for high-end hybrid quantum computing systems. Such systems could be used to power government, academic and R&D capabilities.

Rigetti Corporation was founded by Physicist Chad Riggeti in 2013 and is helmed currently by Dr Subodh Kulkarni, CEO and President. Dr Kulkarni holds a PhD from the prestigious MIT and had completed his BS in Chemical Engineering from IIT Mumbai.

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