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Rigetti Computing (NASDAQ:RGTI), continued its extraordinary climb on Monday rising a superb 21%. With close to a 450% gain in the past month, the quantum computing business outperformed its rivals, in an industry that's firmly in favor with Wall-Street.
Similarly, its peer in D- Wave Quantum (NYSE:QBTS) posted upwards of a 15% increase, showing a startling 300% increase over the past month. Also, Quantum Computing (NASDAQ:QUBT) climbed roughly 25%, extending its one-month gain to 250%. Up almost 6%, IonQ (NYSE:IONQ) added to a more meager 55% increase since mid-November. Though commercial uses of quantum technologies are still under development, there's growing excitement about its potential.
Under the direction of Joseph Moore, Morgan Stanley analysts observed explosiveness in the quantum computing sphere, emphasizing government support for the field, looking at a recent U.S. legislative proposal seeking $2.7 billion in public financing for quantum technologies. Quantum developments, according to U.S. Senator Maria Cantwell, "transformative," indicating the technology's ability to completely overhaul sectors of industry. Driven by scientific breakthroughs and rising public and private investments, the momentum in quantum computing stocks demonstrates sustained investor confidence in the sector's long-term potential.
This article first appeared on GuruFocus.