IonQ
Key Takeaways
- Rigetti Computing shares and IonQ’s rose Monday after both companies were selected to participate in an Department of Defense program.
- Hewlett Packard Enterprise shares, which made the list as well, also saw a rise.
- The shares of some quantum computing firms not selected as well as other artificial-intelligence stocks have also gained.
Rigetti Computing (RGTI), IonQ, and other quantum computing stocks led a stock rally on Monday. This was in response to a new initiative by the government and as artificial-intelligence stocks recovered from their recent selloffs fueled by tariffs.
The Defense Advanced Research Projects Agency, which operates under the Department of Defense, late last week announced 15 companies for a program it said will explore whether it’s possible to build a “useful” quantum computer that "can achieve utility-scale operation—meaning its computational value exceeds its cost" by 2033.
Rigetti’s shares rose by about 11% while IonQ’s shares increased by 10% after being selected for the program. Hewlett Packard Enterprise, which was also on the list, saw a 4% increase in its shares.
Quantum companies that were not selected also saw their shares rise. Quantum Computing (QUBT), a company Rigetti has partnered with, gained 4% and D-Wave Quantum grew by close to 5%. Rigetti’s partner, Nvidia (NVDA), also saw its stock rise.
The gains came even as worries about new tariffs continued to weigh on broader markets, with the Dow and S&P 500 posting losses. The Nasdaq, which is a tech-heavy index, ended Monday’s session slightly higher, with a 0.1% gain. (Read Investopedia’s live coverage of today’s market action here.)
