Core Insights - Rigetti Computing Inc. has seen a significant stock increase, with a year-to-date surge of approximately 100% and a staggering 3,900% rise over the past 12 months [1] Group 1: Stock Performance - The stock's meteoric rise has garnered attention from investors, particularly those interested in ETFs focused on quantum computing [2] - Rigetti's stock price increased by more than 20% following the announcement of a $5.8 million, three-year deal with the U.S. Air Force for quantum networking technology research [3] - ETFs such as RGTU and RGTX have experienced substantial gains, with RGTU up over 473% since its inception and RGTX up around 770% since early April [4] Group 2: Financial Performance - Rigetti's financial results have shown inconsistency, with a year-over-year revenue decline of over 50%, reporting $1.8 million in the second quarter, which was significantly below Wall Street's estimate of $2.6 million [5] Group 3: Market Sentiment and Risks - The short interest in Rigetti stands at 51.56 million shares, accounting for 16.28% of the float, indicating strong bearish sentiment among investors [5] - Despite the challenges, the U.S. government's increasing focus on quantum technology, exemplified by the Air Force contract, may drive future growth in the sector [6] Group 4: ETF Exposure - Other ETFs providing exposure to Rigetti include the Defiance Quantum ETF QTUM and ARK Autonomous Technology & Robotics ETF ARKQ, which, while not exclusively focused on quantum computing, include Rigetti as part of their holdings [6][7]