On August 3, Rigetti Computing rose 5.03% in regular trading, trading at $15.77/share, with turnover of $76.98 million. The rally was driven by a combination of upcoming Q2 earnings expectations and recent momentum from a National Science Foundation-funded project.

On the earnings front, the company is scheduled to report Q2 results on August 6. Market consensus expects revenue of approximately $5.1 million, representing year-over-year growth of roughly 175%, with adjusted EPS narrowing to -$0.05. Benchmark has listed Rigetti as a key quantum computing name to watch, citing optimism around commercialization prospects.

Additionally, on July 27, Rigetti announced a partnership with Hewlett Packard Enterprise and Pittsburgh Supercomputing Center to build the TangleLab hybrid quantum-classical supercomputing testbed, funded by a $5 million NSF grant. The project will feature Rigetti's 9-qubit Novera system, with construction set to begin September 1 and full operations expected the following year. Multiple catalysts converging near the earnings window supported the stock's continued upward movement.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)