Rigetti Computing (RGTI): When the World Finally Notices You

Back in October 2021, my Special Purpose Acquisition Company (or “SPAC”) which was called “Supernova 2” agreed to take public Rigetti Computing through a SPAC merger. The deal closed in March 2022 and Rigetti began trading as a public company (ticker: “RGTI”).?

At the time of the merger, my team and I were excited about the technological potential of Rigetti which was a leader in the emerging field of quantum computing. The technology was still in the early stages, but it showed enormous promise. We knew that the world would continue to gobble up computing power and the need for computational capacity would only grow. I will admit that I did not forecast the insatiable appetite for additional compute power which the artificial intelligence boom spawned over the last few years. AI has been a tremendous tailwind for quantum and has heightened interest in the category for tech giants like Amazon and Google.

During the two years after we invested in Rigetti through the 2021 SPAC merger, the technology at Rigetti continued to advance quietly but the stock languished along with most other SPACs. Meanwhile, other quantum companies including Google made large advances in quantum and stocks of Rigetti’s competitors like IONQ took off.?

I am delighted to report that in the last few months, the stock market has finally taken notice of Rigetti’s potential. The media has covered Rigett’s rise. RGTI is now up 594% in a month, 1,011% in the last 3 months, up 798% in the last 6 months and up 749% in the last year. In addition, RGTI has been one of the most widely traded stocks in the world the last few weeks, trading more shares than NVDA or TSLA.?

The company and its technology have come a long way since my team and I first invested over three years ago but it is extremely gratifying to see the stock start to reflect the company’s potential.