We recently published a list Last week’s 10 biggest winners. In this article, we’ll take a look at where Rigetti Computing Inc. (NASDAQ:RGTI) stands compared to other biggest gainers from last week.

Last week, investors gobbled up shares of mostly technology companies after announcing billions of dollars in investments, support for quantum technologies and new contracts, among other things. Let’s take a look at last week’s top 10 winners and explore the reasons behind their impressive performance.

To identify last week’s biggest winners, we only considered stocks that had a market cap of at least $2 billion and a daily trading volume of $5 million.

A close-up shot of an engineer typing at a quantum computer station in a modern office space.

Last week, shares of Rigetti Computing rose 29.69 percent to $9.37 apiece from $7.22 on Monday, driven by news surrounding the company’s developments in the quantum computing sector.

The global quantum computing market, currently worth $1.3 billion, is expected to grow at a remarkable compound annual growth rate (CAGR) of 32.7%, potentially reaching $5.3 billion by 2029, currently at $1.3 billion.

Analysts say Rigetti should largely benefit from expected growth as it provides key resources to developers and recently launched its innovative Novera quantum processor.

It’s also worth noting that Google’s advances in Quantum with its latest Willow chip have contributed to the rise of Quantum stocks, including Rigetti.

Total RGTI takes 5th place on our list of last week’s biggest winners. While we recognize RGTI’s potential as an investment, we believe some AI stocks have greater prospects of delivering higher returns, and within a shorter time frame. If you’re looking for an AI stock that has more promise than RGTI but trades at less than 5x earnings, check out our report on it cheapest AI stock.

READ MORE: The 8 Best Wide Moat Stocks to Buy Now And The 30 most important AI stocks according to BlackRock

Disclosure: None. This article was originally published at Insider monkey.