The gains came after Nvidia CEO Jensen Huang triggered a selloff in quantum computing stocks earlier this week with his remarks about the technology’s development.

The drop in stocks came after Nvidia CEO Jensen Huang's Q&A with analysts at CES in Las Vegas. When answering a question about the future of quantum computing, he said the timeline may be between 15 and 30 years until there is "very useful" quantum computers. This is the relevant quote from Huang:

Rigetti Computing is at the forefront of the quantum computing industry, but the company has a speculative stock valuation.

Rigetti Computing, IonQ, and other quantum stocks plunged after Nvidia CEO Jensen Huang told Wall Street analysts that “very useful quantum computers” are likely 20 years away.

Rigetti Computing's technology roadmap aims to enhance its market position with significant milestones in 2025, including a 36-qubit and 100-qubit system.

Rigetti Computing (NASDAQ: RGTI) stock posted explosive gains across 2024. The quantum computing company's share price closed out the year's trading up 1,449.4%, according to data from S&P Global Market Intelligence.

Rigetti Computing (RGTI) is an integrated full-stack quantum computing company that focuses on designing and developing quantum chips. It was the first company to develop a multi-chip quantum processor.