TLDR
- Jim Cramer called RGTI a potential “home run” after previously calling it “the worst” quantum stock
- Stock jumped 9.6% following Cramer’s Mad Money comments
- Company launched commercial 36-qubit quantum system this month
- New Montana State University partnership deploys Rigetti processor on campus
- 100+ qubit system planned for late 2025 launch
Rigetti Computing stock soared 9.6% Thursday after CNBC’s Jim Cramer completely reversed his bearish stance on the quantum computing company. The Mad Money host had previously labeled RGTI “the worst one” among quantum stocks but now sees major upside potential.
“Rigetti could have something that could be a home run,” Cramer said Wednesday. “RGTI is one that could have a headline tomorrow – I don’t want to keep you out of it.”
The dramatic shift comes as Rigetti has made progress on multiple fronts. The stock has gained 19% over three months despite high volatility.
Quantum stocks crashed in January when Nvidia CEO Jensen Huang suggested practical quantum computing could take decades. Cramer was particularly negative on Rigetti at that time.
Commercial System Launch Drives Interest
Rigetti announced its Cepheus-1-36Q system became commercially available this month. The 36-qubit quantum computer represents the company’s most powerful platform yet.
The system will anchor Rigetti’s upcoming Quantum Cloud Services Platform launch on Microsoft Azure. This cloud integration aims to make quantum computing more accessible to businesses.
The Berkeley-based company remains on track to launch its 100+ qubit system by year-end. The larger system would mark another major milestone in quantum processing power.
University Partnership Adds Legitimacy
Rigetti recently partnered with Montana State University for quantum research advancement. The collaboration launched MSU’s Quantum Core Research and Education Center with an on-site Rigetti processor.
This academic partnership provides real-world validation of Rigetti’s technology. University deployments often serve as proving grounds for emerging tech platforms.
The partnership signals growing institutional interest in Rigetti’s quantum systems. It helps move the company from speculative investment to practical technology provider.
Rigetti faces intense competition in the quantum computing space. The company must execute on technology roadmaps while proving commercial viability.
Cramer’s stance change reflects both the volatility and evolving prospects in quantum computing. His shift from “worst” to potential “home run” highlights the speculative nature of the sector.
The Montana State partnership provides tangible progress beyond laboratory development. Academic validation could open doors to additional institutional partnerships.
Rigetti continues developing more powerful quantum systems while building commercial applications. The company targets broader quantum adoption through cloud services integration.
