🔴 Rigetti Computing Trades Lower Despite Letter of Intent for up to $100M in U.S. Funding

Rigetti Computing's stock is trading lower today, despite the significant announcement of a signed Letter of Intent (LOI) with the U.S. Department of Commerce for potential funding of up to $100 million to support superconducting quantum computing research and development.

• This potential government backing comes alongside a June 2nd disclosure of a new stake in the company by investment firm Eurizon Capital SGR S.p.A.
• In other recent news, filings from June 1st showed that Rigetti's CTO, David Rivas, sold a substantial amount of stock in late May.