On August 4, Rigetti Computing rose 5.56% in regular trading, trading at $16.745/share, with turnover of $82.77 million.

On the news front, the company recently announced a collaboration with Hewlett Packard Enterprise and Pittsburgh Supercomputing Center to build the TangleLab hybrid quantum-classical supercomputing testbed, funded by a $5 million grant from the National Science Foundation. Rigetti will deliver a 9-qubit Novera quantum computing system for the project, with construction expected to begin on September 1 and full operations anticipated next year. Benchmark simultaneously published a research note highlighting quantum computing commercialization prospects, listing Rigetti as a key focus name.

Additionally, the company is scheduled to report second-quarter financial results on August 6. Consensus estimates project quarterly revenue of approximately $5.1 million, representing year-over-year growth of roughly 175%, with adjusted EPS of -$0.05, narrowing losses from the prior year. The convergence of project milestones and favorable earnings expectations provided multiple catalysts for the stock.

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