Rigetti Plunges 11.6% as Broadcom's AI Chip Warning Sparks Tech Sell-Off
Updated
Updated · The Motley Fool · Jun 5
Rigetti Plunges 11.6% as Broadcom's AI Chip Warning Sparks Tech Sell-Off
3 articles · Updated · The Motley Fool · Jun 5
Summary
Rigetti Computing shares fell 11.6% by 11:30 a.m. ET Friday, with no company-specific setback driving the drop.
Broadcom's warning that Q3 AI chip sales would "only" triple appears to have triggered a broader risk-off move across tech, hitting quantum names along with chipmakers and crypto-linked assets.
Bitcoin was down nearly 5%, Nvidia fell by a similar amount, and Micron dropped even more, underscoring how widely investors were cutting exposure.
Rigetti still faces deeper fundamental risks: quantum computing remains unprofitable industrywide, and analysts tracked by S&P Global Market Intelligence do not expect the company to turn a profit through 2030.