Billionaire Ken Griffin Pours $4,700,000 Into Two Assets in New Bet on Future of Quantum Technology
Billionaire Ken Griffin is pouring tens of millions of {dollars} into two new bets on quantum expertise.
A brand new 13F submitting shows the Citadel CEO added positions in Rigetti Computing (RGTI) and D-Wave Quantum (QBTS) within the third quarter.
Citadel bought roughly 51,700 shares of Rigetti, valued at about $1.6 million based mostly on the September thirtieth closing value of $29.79.
Rigetti focuses on gate-based quantum methods utilizing superconducting qubits, with a roadmap focusing on scalable, fault-tolerant processors by 2027.
The agency additionally added round 122,600 shares of D-Wave, value roughly $3.10 million on the quarter-end value of $24.71.
D-Wave focuses on quantum annealing for optimization issues, boasting methods with over 4,000 qubits that tolerate noise higher than opponents.
The stakes, although small relative to Citadel’s $657 billion portfolio, spotlight Griffin’s curiosity in rising tech. Rigetti’s inventory surged 3,750% since January 2023, whereas D-Wave rose 1,770% since January 2024.
Wall Avenue stays bullish, with analysts projecting 42% upside for Rigetti and 48% for D-Wave over the following 12 months. Nevertheless, quantum tech faces hurdles, with business viability probably a decade away.
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