olivLaw · US equity research
Rigetti Computing, Inc. RGTI
Services-Computer Programming Services · SIC 7371 · Vertical: Services-Computer Programming Services (SIC 7371)
Rigetti Computing builds superconducting quantum computers and the processors that power them, integrating chip fabrication with cloud delivery. The company remains in a technology development phase, with a net loss of 216.2 million USD in 2025 and quarterly revenue of only 5.1 million USD in the second quarter of 2026.
At the close of 04 Nov 2026, Rigetti Computing, Inc. (RGTI) stock was 11.21 USD (+1.13% on the day), with market capitalisation 3.7 bn USD, beta 3.11, 52-week range 10.67–37.29 USD. Latest reported quarter (Q2 2026): revenue of 5.1 m USD (+185.3% YoY), net income of -52.6 m USD, diluted EPS -0.16 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 36.5
- weak (30–45)
- Bollinger (20, 2)
- 10.24 – 13.88
- in the lower half of the band · %B 0.27 · band width 30.1%
- SMA 50 / 200
- 14.18 / 16.96
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.93 / -0.95
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −26.0% | −1.1% | −24.9 pp | — |
| 3 months | −33.2% | −0.5% | −32.7 pp | — |
| 6 months | −44.2% | +4.4% | −48.6 pp | — |
| Year to date | −49.4% | +12.3% | −61.7 pp | — |
| 1 year | −68.1% | +13.5% | −81.7 pp | −39.9% |
| 3 years | +858.1% | +76.4% | +781.7 pp | −43.3% |
| 5 years | +4.3% | +63.7% | −59.4 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.4 m | 2.3 m | 1.5 m | 1.8 m | 1.9 m | 1.9 m | 4.4 m | 5.1 m |
| Cost of revenue | 1.2 m | 1.3 m | 1.0 m | 1.2 m | 1.5 m | 1.2 m | 3.0 m | 3.0 m |
| Gross profit | 1.2 m | 1.0 m | 442.0 k | 566.0 k | 404.0 k | 652.0 k | 1.4 m | 2.2 m |
| Research & development | 12.8 m | 13.7 m | 15.5 m | 13.5 m | 15.0 m | 17.3 m | 20.0 m | 20.7 m |
| SG&A | 5.8 m | — | 6.6 m | 6.9 m | 5.9 m | — | 7.4 m | 9.5 m |
| Operating income | -17.3 m | -18.5 m | -21.6 m | -19.9 m | -20.5 m | -22.6 m | -26.0 m | -28.1 m |
| Interest expense | 733.0 k | 446.0 k | — | — | — | — | — | — |
| Pre-tax income | -14.8 m | -153.0 m | 42.6 m | -39.7 m | -201.0 m | -18.2 m | 33.1 m | -52.6 m |
| Income tax | 0 | 0 | 0 | 0 | — | — | — | — |
| Net income | -14.8 m | -153.0 m | 42.6 m | -39.7 m | -201.0 m | -18.2 m | 33.1 m | -52.6 m |
| Diluted EPS | -0.08 | -0.68 ≈ | 0.13 | -0.13 | -0.62 | -0.06 ≈ | -0.06 | -0.16 |
| Operating cash flow | -15.4 m ≈ | -8.5 m | -13.7 m | -16.2 m ≈ | -13.8 m ≈ | -14.9 m | -16.2 m | -15.8 m ≈ |
| Capex | 2.3 m ≈ | 1.3 m | 2.5 m | 5.7 m ≈ | 5.9 m ≈ | 4.6 m | 4.4 m | 12.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | unavailable | 13.1 m | 12.0 m | 10.8 m | 7.1 m |
| Revenue YoY | unavailable | unavailable | −8.3% | −10.1% | −34.3% |
| Net income | -23.2 m | -71.5 m | -75.1 m | -201.0 m | -216.2 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | unavailable | -0.70 | -0.57 | -1.09 | -0.70 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | unavailable | -545.9% | -625.5% | -1,862.7% | -3,050.4% |
| Free cash flow | unavailable | -85.4 m | -59.6 m | -61.7 m | -77.2 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 44.9 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 546.2 m USD
- Total assets
- 666.6 m USD
- Debt / equity
- unavailable
- Current ratio
- 37.42x
- ROE
- -64.3%
- ROA
- -45.5%
- FCF margin
- -1,089.4%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|
| Revenue | — | 13.1 m | 12.0 m | 10.8 m | 7.1 m | SEC (XBRL)· 04 Mar 2026verified |
| Cost of revenue | — | 2.9 m | 2.8 m | 5.1 m | 5.0 m | SEC (XBRL)· 04 Mar 2026verified |
| Gross profit | — | 10.2 m | 9.2 m | 5.7 m | 2.1 m | SEC (XBRL)· 04 Mar 2026verified |
| Research & development | — | 60.0 m | 52.8 m | 49.8 m | 61.3 m | SEC (XBRL)· 04 Mar 2026verified |
| Operating income | -4.9 m | -109.1 m | -72.3 m | -68.5 m | -84.7 m | SEC (XBRL)· 04 Mar 2026verified |
| Depreciation & amortisation | — | 7.0 m | 7.4 m | 6.9 m | 8.1 m | SEC (XBRL)· 04 Mar 2026verified |
| EBITDA | — | -102.1 m ≈ | -64.9 m ≈ | -61.6 m ≈ | -76.6 m ≈ | SEC (XBRL)· 04 Mar 2026derived |
| Interest expense | — | 5.3 m | 5.8 m | 3.3 m | 0 | SEC (XBRL)· 04 Mar 2026verified |
| Pre-tax income | — | -71.5 m | -75.1 m | -201.0 m | -216.2 m | SEC (XBRL)· 04 Mar 2026verified |
| Income tax | — | 0 | 0 | 0 | 0 | SEC (XBRL)· 04 Mar 2026verified |
| Net income | -23.2 m | -71.5 m | -75.1 m | -201.0 m | -216.2 m | SEC (XBRL)· 04 Mar 2026verified |
| Diluted EPS | — | -0.70 | -0.57 | -1.09 | -0.70 | SEC (XBRL)· 04 Mar 2026verified |
| Weighted average diluted shares | — | 102.3 m | 132.0 m | 184.7 m | 309.8 m | SEC (XBRL)· 04 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|
| Cash | 11.7 m | 57.9 m | 21.4 m | 67.7 m | 44.9 m | SEC (XBRL)· 04 Mar 2026verified |
| Receivables | 1.5 m | 6.2 m | 5.0 m | 2.4 m | 2.6 m | SEC (XBRL)· 04 Mar 2026verified |
| Current assets | 18.1 m | 154.5 m | 107.7 m | 206.8 m | 454.8 m | SEC (XBRL)· 04 Mar 2026verified |
| Property, plant & equipment, net | 22.5 m | 39.5 m | 44.5 m | 44.6 m | 57.1 m | SEC (XBRL)· 04 Mar 2026verified |
| Goodwill | 5.4 m | 0 | — | — | — | SEC (XBRL)· 27 Mar 2023verified |
| Total assets | 46.4 m | 203.4 m | 159.9 m | 284.8 m | 666.6 m | SEC (XBRL)· 04 Mar 2026verified |
| Accounts payable | 2.0 m | 1.9 m | 5.8 m | 1.6 m | 3.5 m | SEC (XBRL)· 04 Mar 2026verified |
| Short-term debt | 575.0 k | 8.3 m | 12.2 m | 0 | — | SEC (XBRL)· 07 Mar 2025verified |
| Long-term debt | 27.0 m | 20.6 m | 9.9 m | 0 | — | SEC (XBRL)· 07 Mar 2025verified |
| Current liabilities | 7.6 m | 21.8 m | 29.1 m | 11.9 m | 12.2 m | SEC (XBRL)· 04 Mar 2026verified |
| Total liabilities | 36.4 m | 53.2 m | 50.3 m | 158.2 m | 120.4 m | SEC (XBRL)· 04 Mar 2026verified |
| Equity | -71.5 m † | 150.2 m † | 109.6 m † | 126.6 m † | 546.2 m † | SEC (XBRL)· 04 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|
| Operating cash flow | -962.0 k | -62.7 m | -50.6 m | -50.6 m | -58.5 m | SEC (XBRL)· 04 Mar 2026verified |
| Capex | — | 22.7 m | 9.1 m | 11.1 m | 18.7 m | SEC (XBRL)· 04 Mar 2026verified |
| Free cash flow | — | -85.4 m ≈ | -59.6 m ≈ | -61.7 m ≈ | -77.2 m ≈ | SEC (XBRL)· 04 Mar 2026derived |
| Investing cash flow | -345.0 m | -107.0 m | 773.0 k | -78.4 m | -403.3 m | SEC (XBRL)· 04 Mar 2026verified |
| Financing cash flow | 346.5 m | 215.5 m | 13.2 m | 175.5 m | 439.1 m | SEC (XBRL)· 04 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 3.7 bn USD
Key indicators
Coverage and freshness
Score by group
72% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/Salesunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | 34.6% | 0 (on a fixed band) | 15% |
| EBIT margin · Quality | -727.6% | 16 (vs peers) | 12% |
| FCF margin · Quality | -655.9% | 0 (on a fixed band) | 12% |
| Revenue CAGR 3Y · Growth | -18.5% | 0 (on a fixed band) | 24% |
| Revenue growth (YoY) · Growth | -34.3% | 16 (vs peers) | 12% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 3.9x | 100 (on a fixed band) | 9% |
| EV/Sales · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -2.3% | 0 (on a fixed band) | 18% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/2 factors with a value
- Growth5/100 · 2/2 factors with a value
- Quality5/100 · 3/3 factors with a value
- Returns· partialunavailable · 0/1 factors with a value
- Valuation· partial0/100 · 1/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
RIGETTI COMPUTING, INC. (RGTI). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 7.1 m USD in 2025; YoY growth -34.3%; net margin -1,787.4%; ROE -43.8%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 3.9x
What contradicts it
- Gross margin: 34.6%
- EBIT margin: -727.6%
- FCF margin: -655.9%
- Revenue CAGR 3Y: -18.5%
- Revenue growth (YoY): -34.3%
- FCF yield: -2.3%
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, EV/Sales, Shareholder yield (distributions).
Versus the vertical median
Services-Computer Programming Services (SIC 7371) · same industry (4-digit SIC) · compared with 32 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| INFYInfosys Limited | 49.6 bn | 16.1 | 29.0% | 16.4% | +3.9% | −30% / −30% |
| ZSZscaler Inc | 36.6 bn | — | -2.9% | -1.9% | +25.4% | −11% / +14% |
| CTSHCognizant Technology Solutions Corporation | 29.4 bn | 12.0 | 17.4% | 11.8% | +7.0% | −15% / −7% |
| VRSNVerisign Inc | 28.5 bn | 33.6 | — | 49.1% | +6.4% | +26% / +50% |
| WITWipro Limited | 22.7 bn | 15.4 | 16.4% | 14.7% | −3.2% | −21% / −11% |
| EPAMEpam Systems, Inc. | 7.1 bn | 18.6 | 11.2% | 7.2% | +15.4% | −27% / −47% |
| DOCSDoximity, Inc. | 6.2 bn | 40.9 | 17.2% | 25.5% | +13.1% | −33% / +49% |
| DOXAmdocs Limited | 4.9 bn | 10.3 | 14.1% | 9.9% | +2.4% | −43% / −48% |
| RGTIRigetti Computing, Inc. | 3.7 bn | — | -43.8% | -1,787.4% | −34.3% | −68% / +858% |
| FORTYFormula Systems (1985) Ltd. | 1.8 bn | 23.4 | 12.2% | 2.9% | +5.2% | −20% / +96% |
| MGRTMega Fortune Co Ltd | 1.6 bn | 698.9 | 21.1% | 16.1% | +233.3% | +1,864% / unavailable |
| PERIPerion Network Ltd. | 446.8 m | — | -1.1% | -1.8% | −11.7% | +12% / −59% |
| MFImF International Limited | 367.8 m | 36.4 | 3.9% | 232.8% | +29.4% | −68% / unavailable |
| IAInnovative Solutions And Support, Inc. | 353.7 m | 18.8 | 28.5% | 20.5% | +78.6% | +103% / +167% |
| GDEVGDEV Inc. | 176.1 m | 2.6 | — | 17.1% | −3.9% | −44% / −57% |
| ATGLAlpha Technology Group Ltd | 146.5 m | — | -184.7% | -952.0% | −40.2% | −61% / −39% |
| MLGOMicroAlgo Inc. | 135.7 m | 1.2 | 7.6% | 30.2% | −20.3% | −61% / −100% |
| MWCMicware Co., Ltd. | 82.0 m | 8.1 | 20.0% | 7.3% | unavailable | unavailable / unavailable |
| PDCPerpetuals.com Ltd | 74.9 m | — | -75.8% | -1,069.9% | −47.0% | −61% / −13% |
| CINTCI&T Inc | 73.8 m | 10.3 | 13.8% | 8.3% | +11.5% | −31% / −40% |
| CYCUCycurion, Inc. | 65.1 m | — | -76.7% | -98.0% | −14.8% | −91% / unavailable |
| XTIAXti Aerospace, Inc. | 37.7 m | — | — | -89.6% | +602.4% | −40% / −100% |
| MNDOMind Cti Ltd | 18.3 m | 6.9 | 11.0% | 13.4% | −9.3% | −24% / −53% |
| CHGAChange Agents Corporation | 17.8 m | — | -606.9% | -643.1% | +6.2% | −97% / −99% |
| RDNWRideNow Group, Inc. | 11.7 m | — | — | -0.8% | −10.5% | +7% / −9% |
1- and 3-year price returns: for RGTI from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Rigetti Computing builds superconducting quantum computers and the processors that power them, integrating chip fabrication with cloud delivery. The company remains in a technology development phase, with a net loss of 216.2 million USD in 2025 1 and quarterly revenue of only 5.1 million USD in the second quarter of 2026 3.
SWOT
Strengths
- The company controls chip fabrication in-house through its Fab-1 facility and offers a full stack from design to cloud delivery. Its multi-chip modular architecture is supported by issued and pending patents.
- The company has a solid financial position for the current period, with no debt at the end of the second quarter of 2026. It has also reported that two-qubit gate fidelity reached high levels in internal testing.
- Partnerships with government agencies, cloud companies and academic institutions give access to important customers and research support.
Weaknesses
- The company has not achieved profit and reports repeated net losses, with revenue small relative to development spending.
- Most revenue comes from non-recurring development contracts, which makes financial results hard to anticipate.
- The company has changed its technology roadmap in the past and has not always met its publicly announced milestones.
Opportunities
- If systems with more qubits reach the target fidelity, demand for on-premises systems and cloud services could grow.
- U.S. government support and planned UK investment could accelerate development and foreign expansion.
- Collaboration with HPE and supercomputing centers could open the hybrid quantum-classical market to research institutions.
Threats
- Competition from other quantum modalities or from large cloud providers could reduce the company's market share.
- If financing cannot be obtained on favorable terms, the company could be forced to slow its development programs.
- Geopolitical tensions, trade restrictions and supply chains for specialized components could affect costs and deliveries.
Risks
- Continuing losseshigh
The company has not achieved profit and expects continued net losses; without significant revenue, its financial position could deteriorate.
- Need for additional financinghigh
Plans to expand the fabrication facility and investments could require additional capital, and equity financing could dilute existing shareholders.
- Technology delaysmedium
The company has missed public milestones in the past and could fail to reach its qubit count and fidelity targets on time.
- Manufacturing defectsmedium
Systems are complex and could contain defects that affect performance and the company's reputation.
- Supplier dependencelow
Components from electronics, cryogenics and semiconductors come from several industries, and interruptions could affect production scaling.
Investment thesis
What would need to be true (bull case)
- If the multi-chip technology proves scalable, the company could become a significant supplier of quantum computers to institutions and governments.
- Government support and contracts with major partners could provide stability during the development phase.
- The superconducting advantage in gate speed could make its systems competitive in hybrid computing with supercomputers.
What would break the thesis
- Revenue is very small relative to losses, and the company could need additional financing before reaching profitability.
- The history of changed technology roadmaps and missed targets could indicate difficulty in meeting announced goals.
- Quantum computing has not yet been sold at broad commercial scale, and demand could remain limited for a long time.
What to watch
- Delivery of the 108-qubit system to C-DAC and of the Novera systems2026
- Progress on two-qubit gate fidelity and coherence timeQ3 2026
- Status of the letter of intent with the U.S. Department of Commercenext 10-Q
- Trend in research and development spending and cash positionnext 10-Q
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Rigetti Computing, Inc. describes its mission as building the world's most powerful computers to help solve humanity's most important problems, based on superconducting qubits 1. The company manufactures quantum processors in its own Fab-1 facility and offers systems in the cloud through its Rigetti Quantum Cloud Services platform, as well as through third-party cloud providers 1. According to second quarter 2026 results, total quarterly revenue was 5.1 million USD, and the company ended the period with 541.3 million USD in cash and investments and no debt 3.
Rigetti describes its longer-term business model as based on sales of quantum processing units, quantum computing systems and cloud access (QCaaS), although most current revenue comes from technology development contracts 1. In 2026 the company announced general availability of the Cepheus-1-108Q system, with twelve interconnected 9-qubit chiplets, accessible through QCS, Amazon Braket, Microsoft Azure Quantum and qBraid 2. The company also announced a letter of intent with the U.S. Department of Commerce for support of up to 100.0 million USD, a transaction that could accelerate its R&D programs 2.
The company began selling quantum computers to end users in 2023 and launched the Novera QPU in December 2023, its first commercially available quantum processing unit 1. Besides direct sales, Rigetti has strategic collaborations with government agencies and companies, including DARPA, DOE and AFRL 1.
Segments
On-premises quantum systems
Rigetti sells on-premises quantum systems from 9 to 108 qubits for national laboratories and quantum computing centers, while the Novera QPU supports the broader R&D community 3. The 8.4 million USD order from C-DAC in India covers a 108-qubit system expected to be deployed in the second half of 2026 1.
Market context
The company argues that demand for computing power able to solve complex problems is growing, and that quantum computers could solve some problems faster and at lower cost than today's supercomputers 1. It describes maturity phases, from quantum advantage to large-scale fault-tolerant computing, which it anticipates beginning in roughly a decade 1.
The quantum computing market is still early, and Rigetti notes that the technology has never been sold at large commercial scale 1. The company plans to expand internationally, including a planned investment of up to 100 million USD in the United Kingdom 3.
Trends
- Government interest and public supporttailwind
The letter of intent with the U.S. Department of Commerce and contracts with DARPA, DOE and AFRL indicate strategic interest in quantum technology, which could support research funding 12.
- Slowdown of classical scalingtailwind
The company notes that classical computing power growth has slowed over the past decade, creating a context in which quantum computing could become attractive 1.
- High development costsheadwind
Moving to scalable systems implies much higher spending than to date, and revenue could increase only after more powerful computers are produced 1.
- Industrial partnershipsmixed
Collaboration with Quanta and with HPE on hybrid quantum-classical systems could reduce manufacturing risk and widen market access 13.
Competitive position
Rigetti argues that superconducting modality has gate speeds far above other technologies such as trapped ions or neutral atoms, though these are comparisons based on public information cited by the company 13. It also competes with cloud service providers that offer quantum computing through their own platforms 1.
The market also includes other companies developing quantum computers with different technological modalities, and Rigetti's advantage depends on its ability to scale multi-chip processors and maintain high fidelity 1. The company remains early in its development, which makes competitive outcomes hard to anticipate 2.
- Amazon Web Services (Amazon Braket)AMZN
Cloud provider that distributes Rigetti systems through Amazon Braket, but which could also compete through its own quantum services.
- Microsoft Azure QuantumMSFT
Cloud platform offering access to quantum systems, including Cepheus-1-108Q, which could act as both partner and competitor.
- Trapped-ion quantum providers
Companies using a different technological modality, which Rigetti considers slower in gate speed.
- Neutral-atom quantum providers
Developers of quantum computers based on neutral atoms, referenced by Rigetti in its speed comparisons.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- IonQ Surges 11% as NVIDIA Research Center Deal Follows Error-Decoder Breakthrough; D-Wave Climbs 5%, Rigetti Rises 4%Yahoo Finance — News · 23 Sept 2026 · EN
- IonQ, Rigetti Computing, D-Wave Quantum, and Quantum Computing Inc. Are Sending Shockwaves Through Wall Street With This $895 Million WarningYahoo Finance — News · 22 Sept 2026 · EN
- Rigetti Turned $10,000 Into Over $81,000 in 3 Years -- and It's Still 73% Off Its High. Here's Why I Still Wouldn't Touch It.Yahoo Finance — News · 20 Sept 2026 · EN
- IonQ vs. Rigetti Computing: Which Pure-Play Quantum Stock Actually Has the Technology Edge?Yahoo Finance — News · 16 Sept 2026 · EN
- Rigetti and D-Wave Just Got $100 Million Each. 1 Quantum Stock Has More Upside From Here.Yahoo Finance — News · 12 Sept 2026 · EN
- Not IonQ, Not Rigetti Computing. This Quantum Computing Stock Could Be September's Biggest Winner.Yahoo Finance — News · 11 Sept 2026 · EN
- D-Wave, Rigetti, and Quantinuum Just Got $300 Million From Washington. Here's What That Changes for Investors.Yahoo Finance — News · 10 Sept 2026 · EN
- Stocks to Watch: Amgen, Nike, Rigetti; Bloom EnergyYahoo Finance — News · 08 Sept 2026 · EN
- D-Wave, Rigetti, Quantinuum land $100M each in CHIPS Act fundingYahoo Finance — News · 08 Sept 2026 · EN
- Quantum Stocks Rally as Commerce Department Takes Equity Stakes: Rigetti Surges 6%, D-Wave Climbs 5%Yahoo Finance — News · 08 Sept 2026 · EN
- IonQ vs. Rigetti Computing: Which Pure-Play Quantum Pioneer Has the Stronger Technology Advantage?Yahoo Finance — News · 05 Sept 2026 · EN
- D-Wave Sinks 8% as Its CFO Retires; Rigetti Slides 5%, IonQ Falls 3%Yahoo Finance — News · 26 Aug 2026 · EN
- Quantum Stocks Unwind a Revenue-Headline Rally: Rigetti Computing and Infleqtion Down 7%, IonQ Down 6%Yahoo Finance — News · 24 Aug 2026 · EN
- IonQ vs. Rigetti: The Better Quantum Computing Stock for Long-Term InvestorsYahoo Finance — News · 24 Aug 2026 · EN
- Quantum Computing Stocks IonQ, Rigetti Computing, and D-Wave Quantum Have Put Wall Street on Notice With This $863 Million WarningYahoo Finance — News · 24 Aug 2026 · EN
- Reddit vs. Rigetti Computing: Which High-Growth Stock Is a Better Buy in 2026, the Social Media Giant or Rising Quantum Computing Company?Yahoo Finance — News · 22 Aug 2026 · EN
SEC filings
- Current report08 Sept 2026Material agreement · Item 3.02 · Regulation FD disclosure · Other events · Financial statements and exhibits
- Current report20 Aug 2026Departure or appointment of officers
- Current report20 Aug 2026Departure or appointment of officers · Regulation FD disclosure · Other events · Financial statements and exhibits
- Quarterly report06 Aug 2026
- Current report06 Aug 2026Results of operations · Financial statements and exhibits
- Current report11 Jun 2026Shareholder vote
- Current report21 May 2026Item 3.02 · Regulation FD disclosure · Other events · Financial statements and exhibits
- Quarterly report11 May 2026
- Current report11 May 2026Results of operations · Financial statements and exhibits
- Proxy statement24 Apr 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Rigetti Computing, Inc. · 04 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Rigetti Computing, Inc. · 06 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Rigetti Computing, Inc. · 06 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.