Billionaire Ken Griffin is pouring millions of dollars into two new bets on quantum technology.
A new 13F filing shows the Citadel CEO added positions in Rigetti Computing (RGTI) and D-Wave Quantum (QBTS) in the third quarter.
Citadel purchased approximately 51,700 shares of Rigetti, valued at about $1.6 million based on the September 30th closing price of $29.79.
Rigetti specializes in gate-based quantum systems using superconducting qubits, with a roadmap targeting scalable, fault-tolerant processors by 2027.
The firm also added around 122,600 shares of D-Wave, worth roughly $3.10 million at the quarter-end price of $24.71.
D-Wave focuses on quantum annealing for optimization problems, boasting systems with over 4,000 qubits that tolerate noise better than competitors.
The stakes, though small relative to Citadel’s $657 billion portfolio, highlight Griffin’s interest in emerging tech. Rigetti’s stock surged 3,750% since January 2023, while D-Wave rose 1,770% since January 2024.
Wall Street remains bullish, with analysts projecting 42% upside for Rigetti and 48% for D-Wave over the next year. However, quantum tech faces hurdles, with commercial viability likely a decade away.
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