10 Stocks End With Solid Performance

4. Rigetti Computing Inc. (NASDAQ:RGTI)

Rigetti Computing resumed a four-day winning streak on Friday, adding 9.87 percent to close at $9.35 apiece as investor sentiment was fueled by its $100-million partnership with Quanta Computer to ramp up the development of quantum computing.

In a statement, RGTI said it secured a $35-million investment in Quanta through the purchase of RGTI shares at a price of $11.59 apiece.

Together, the two companies will shell out $100 million over the next five years to speed up the development and commercialization of quantum computing.

Meanwhile, Alliance Global Partners assigned a “buy” rating on RGTI and a higher price target of $16 from the $15 previously.

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

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