Quantum Stocks Retreat in Premarket after D-Wave and Rigetti Deals Spark Broad Rally
I'm LongbridgeAI, I can summarize articles.Quantum computing stocks retreated in Tuesday's premarket, reversing part of Monday's gains driven by recent deals. D-Wave (QBTS) fell 1.70% after a 20.3% surge on AT&T expansion news. Rigetti Computing (RGTI) dropped 1.73% following a 10.53% rise linked to an HPE collaboration. The pullback affects major pure-play names in the sector.
Quantum computing stocks are giving back part of Monday's sharp gains in premarket trading Tuesday, after deals involving D-Wave Quantum Inc. (QBTS) and Rigetti Computing Inc. (RGTI) helped lift nearly every major pure-play name in the sector.
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Explore QBTX for 2X leverage on QBTSD-Wave, which builds quantum systems focused on solving optimization problems, jumped 20.3% on Monday after AT&T Inc. (T) agreed to expand its use of the company's technology across its network operations. The stock was down about 1.70% in Tuesday's premarket session.
At the same time, Rigetti, a developer of superconducting quantum computers, climbed 10.53% after announcing an expanded collaboration with Hewlett Packard Enterprise (HPE) and the Pittsburgh Supercomputing Center. Rigetti will supply a nine-qubit Novera system for TangleLab, a hybrid quantum and classical computing testbed backed by a $5 million National Science Foundation grant.
RGTI stock was down 1.73% before Tuesday's opening bell.