Rigetti Computing (RGTI) Stock Jumps 12% on HPE Quantum Partnership and NSF Grant
TLDR
- RGTI jumped nearly 11.9% after announcing TangleLab, a hybrid quantum-classical supercomputing testbed
- The project is a three-way collaboration with Hewlett Packard Enterprise and Pittsburgh Supercomputing Center
- A $5 million National Science Foundation grant funds the initiative
- Rigetti will deliver its 9-qubit Novera QPU to PSC, with full operations expected in 2027
- Q2 2026 earnings are due August 6, with Wall Street expecting ~$5.09 million in revenue
Rigetti Computing stock jumped as much as 11.9% in morning trading on Monday after the company announced a new collaboration with Hewlett Packard Enterprise and the Pittsburgh Supercomputing Center.
The project, called TangleLab, is a hybrid quantum-classical supercomputing testbed backed by a $5 million National Science Foundation grant. Rigetti stock hit a session high of $15.97 before pulling back slightly.
Under the deal, Rigetti will supply its 9-qubit Novera quantum processing unit to PSC. The QPU will be integrated with a classical high-performance computing environment. Construction is set to begin September 1, 2026, with full operations targeted for 2027.
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