Thu Oct 02 14:30:00 UTC 2025: Here’s a summary of the text and a rewritten version as a news article:

**Summary:**

Rigetti Computing, a quantum computing company, has seen its stock surge in the past year. This has attracted the attention of billionaire investors running major hedge funds, who have significantly increased their holdings in the company. Rigetti is making progress in developing more powerful and accurate quantum computers, and government contracts indicate increasing interest in commercializing quantum technology. However, quantum computing is still in its early stages, and Rigetti’s high valuation and lack of substantial revenue make it a risky investment. While the moves of these billionaire investors are significant, any investment requires a thorough review of all financial metrics.

**News Article:**

**Hedge Fund Titans Bet Big on Quantum Computing Firm Rigetti, Stock Soars**

**NEW YORK, NY** – Rigetti Computing (NASDAQ: RGTI), a leader in the nascent quantum computing field, has caught the eye of some of Wall Street’s biggest players. Several billionaire-backed hedge funds significantly increased their positions in the company during the second quarter, signaling growing confidence in Rigetti’s potential.

The move comes as Rigetti’s stock has exploded, gaining over 3,700% in the past year. The company is developing quantum computers that promise to revolutionize industries like medicine, finance, and cryptography by solving complex problems beyond the capabilities of traditional computers.

Quantum computers use “qubits,” which harness values between zeroes and ones seen in digital systems, to make the system more suited to solving complex pattern-finding problems.

Citadel Advisors boosted its Rigetti holdings by over 50%, now owning more than 1.2 million shares. Tudor Investment, managed by Paul Tudor Jones, initiated a substantial position with over 900,000 shares. Two Sigma Investments, founded by John Overdeck and David Siegel, increased its stake by 183%, surpassing 600,000 shares.

Rigetti announced that its 36-qubit system achieved a high 2-qubit gate fidelity of 99.5%. The company is also on track to release a 100-qubit system by the end of 2025.

Adding to the bullish sentiment, the Air Force Research Laboratory recently awarded Rigetti a $5.8 million contract. B. Riley Financial analyst Craig Ellis reiterated a “buy” rating on the stock, raising the price target to $35 per share, citing the shift in government focus toward quantum technology with clear business value.

Despite the excitement, experts caution that Rigetti remains a speculative investment. While the company shows immense potential and commercial success may be years away, its current valuation stands at $9.6 billion, while generating very little revenue. Furthermore, quantum computing is an inherently expensive and difficult technology. Any hiccups could lead to sharp sell-offs. Investors should also be aware that hedge fund investing is often short term and should not be the only factor when investing. Potential investors should carefully consider the risks before investing in Rigetti.

Read More