10 Firms Suffer Amid Optimistic Market Environment

6. Rigetti Computing Inc. (NASDAQ:RGTI)

Rigetti Computing dropped its share prices by 3.4 percent on Friday to finish at $9.10 apiece as investors repositioned portfolios following news that China is now setting its sights on quantum computing advancements after DeepSeek’s boom.

Earlier this week, Chinese researchers in Hefei announced a huge breakthrough by using a real quantum computer, called Origin Wukong, to improve a huge artificial intelligence model with 1 billion parameters.

The project was said to be the first in the world that had done such with a real quantum machine.

Origin Wukong is a powerful computer with 72 qubits and is used to improve AI performance by 8.4 percent.

Meanwhile, RGTI is expected to release a 36-qubit system based on four 9-qubit chips by mid-2025.

By the end of the year, it expects to release a system with over 100 qubits with a targeted 2x reduction in error rates from the current level.