Quantum Stock Tracker: Rigetti Achieves Major Breakthrough, But Jim Cramer Names Another Stock To 'Own'

CNBC's Jim Cramer named one quantum stock to "own," while another company achieved a major technical breakthrough and substantial share price gains. 

Here's a look at what happened this week in the quantum computing sector. 

Rigetti – RGTI 

Rigetti Computing, Inc. (NASDAQ:RGTI) achieved a performance breakthrough and reported on Wednesday that it had reached a 99.5% median fidelity rate for two-qubit gates on its 36-qubit modular system. 

Rigetti stock shot up on the news and shares were 40% higher on the week. 

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Rigetti's CEO Subodh Kulkarni told Benzinga in an exclusive interview this week that the company is only four years from reaching quantum advantage. 

​​”We expect to see commercial interest pick up when we reach quantum advantage… we are about four years away from that,” he told Benzinga.

D-Wave Quantum – QBTS 

Shares of  D-Wave Quantum, Inc. (NYSE:QBTS) ran nearly 30% higher on retail investor interest this week and possibly a recommendation to "own" the stock from CNBC's Jim Cramer. 

Quantum Computing – QUBT

Quantum Computing, Inc. (NASDAQ:QUBT) shares gained 11% over the past week and the company announced the first commercial sale of its quantum security technologies in the domestic market.

The company said a top-five U.S. bank placed an order for its quantum communication platform, valued at approximately $332,000.

IonQ – IONQ 

IonQ, Inc. (NYSE:IONQ) completed the acquisition of Capella Space this week and now will begin developing a space-based QKD network by integrating Capella’s satellite infrastructure with its quantum technology. 

Once complete, IonQ says its QKD network will enable secure communications that prevent encryption keys from being intercepted or copied without detection. 

The company also set the date to report its second-quarter financial results on Aug. 6 after the closing bell. Analysts expect IonQ to report quarterly losses of 27 cents per share and revenue of $17.23 million, according to estimates from Benzinga Pro. 

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