10 Firms Kick Off Trading Week Soaring

1. Rigetti Computing Inc. (NASDAQ:RGTI)

Rigetti Computing (RGTI) soared by 42.22 percent on Tuesday to finish at $13.98 each driven by growing optimism in both the Artificial Intelligence and quantum computing sectors. The rally was further fueled by an analyst raising the company’s price target, reflecting confidence in Rigetti’s potential within these rapidly advancing industries.

Recently, financial services firm B. Riley doubled Rigetti Computing’s price target to $8.50 apiece and reaffirmed its “buy” rating.

In other news, investors took heart from the news that President Donald Trump is due to announce $500 billion in support to the private sector to fund artificial intelligence infrastructure.

OpenAI, SoftBank, and Oracle have joined forces to form a joint venture company called Stargate, committing $100 billion initially and up to $500 billion in the next four years to support the sector.

While we acknowledge the potential of RGTI as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as RGTI but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.