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We recently published a list of What Propelled These 10 Firms’ Double-Digit Gains? In this article, we are going to take a look at where Rigetti Computing, Inc. (NASDAQ:RGTI) stands against other Friday's top performers.
The stock market ended the trading week on a strong note, with all major indices clocking in strong gains, as investors cheered better-than-expected non-farm payrolls last month while digesting more corporate earnings results.
The tech-heavy Nasdaq led the rally among all major indices, finishing up by 1.51 percent. The S&P 500 clocked in a 1.47-percent gain, while the Dow Jones grew by 1.39 percent.
Ten companies also mimicked the broader market optimism following impressive earnings performance and an optimistic outlook for the rest of the year. In this article, we have identified the 10 top performers on Friday and detailed the reasons behind their gains.
To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.
A close up of an engineer typing at a quantum computing station in a modern office space.
Rigetti Computing, Inc. (NASDAQ:RGTI)
Rigetti Computing saw its share prices soar by 16.30 percent on Friday, a third straight day, to close at $10.63 apiece, as investors gobbled up stocks ahead of the release of its earnings results on Monday, May 12, 2025.
In the earnings call, investors will be closely watching out for the company’s business expansion updates, having recently secured a $35-million investment and $100-million partnership with Quanta for the development of quantum computers.
According to the two firms, they would jointly invest $100 million over the next five years for the development of quantum computers.
In other news, Rigetti Computing, Inc. (NASDAQ:RGTI) was selected as one of the participants in the Defense Advanced Research Projects Agency (DARPA) Quantum Benchmarking Initiative (QBI), whose primary goal is to determine if any approach to quantum computing can achieve utility-scale operation by 2033.
According to RGTI, it will advance to Stage A, a 6-month performance period focused on its utility-scale quantum computer concept worth up to $1 million upon completion of program milestones.
Overall, RGTI ranks 5th on our list of Friday's top performers. 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 time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than RGTI but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.