The quantum computing space is heating up, and pure gaming quantum inventory rigetti computing (RGTI) is right in the middle of the action. The stock has made a sensation lately, with the stock up 30% on July 16, reaching a median of 99.5% on its modular 36 Qubit System.
This advance reduces the error rate compared to previous results and marks an important step in making quantum computing commercially viable. At the heart of this progress is Rigetti’s modular architecture, which combines four “chiplets” to create a scalable 36 Quality system. By applying technology from the semiconductor industry, Rigetti is dealing with the daunting challenge of building larger numbers of subsystems without sacrificing performance.
The result is a significant improvement in system reliability, thus bringing real-world applications. Now, all eyes are on August 15, when Rigetti plans to officially launch its 36 Qubit Systems. By the end of 2025, the company aims to launch more than 100 tons of systems, so the company is positioning for the next phase of growth in quantum space. For Rigetti stock viewers and quantum enthusiasts, August 15 may just be a date worth hovering around the calendar.
Since 2017, Rigetti has been a key player in full-stack quantum computing, providing cloud-based system access to enterprises, governments and research users. In 2021, it expands to native quantum solutions to deliver systems in quantum quantities of 24 to 84. In 2023, its 9 QQQubit Novera QPU will further support hands-on research by easily integrating with existing infrastructure.
Rigetti’s hybrid quantum classical setup allows seamless cloud integration, while its in-house chip production and development emphasizes its focus on scalable next-generation systems. The company’s market capitalization is currently around $4.2 billion.
Having been 1,400% explosive 1,400% rally over the past year – the 15% gain of the easily eclipsed S&P 500 ($spx) – the momentum of Rigetti Computing has slowed somewhat in 2025, with stocks down just 6% year-on-year (YTD). Still, the stock has recovered its life over the past three months, with investor enthusiasm soaring 56% as investors revolving around Rigetti’s recent technological milestones and the launch of the upcoming 36 Qubit System.
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Rigetti’s growth potential may attract attention, but its valuation is equally striking. The stock has 381 times sales, dwarfing the industry’s median. This advanced signal is optimistic about Rigetti’s future in quantum computing, even if its current revenue is still far from proving such a lofty price.
Rigetti Computing’s stock was hit 15% after the company reported its first-quarter earnings results for fiscal 2025 on May 12. The results have attracted attention as revenues dropped by 52% year-on-year to $1.5 million, largely due to the timing of milestone-based contracts. The figure is also well below Wall Street’s $2.6 million forecast. As disappointingly, the company’s adjusted loss per share was $0.08, an estimated 60% missing.
Operating expenses jumped 22% to $22.1 million, while R&D spending accounted for only nearly $15.5 million, highlighting the ongoing costs that drive quantum development forward. Revenues remain unstable given the early nature of the industry, but Rigiti’s strong cash position was $237.7 million, providing a solid safety net as it continues to invest in expansion and innovation.
In a more optimistic situation, Rigetti has achieved several strategic victories, highlighting growing confidence in its quantum capabilities. The US Air Force has provided a $5.5 million grant, and Taiwan’s $35 million investment is strongly recognized. In addition to momentum, Rigetti was selected as DARPA’s high-profile Quantum Benchmarking program and advanced to Phase A with a $1 million reward.
In addition to the highly anticipated launch of its 36 Quality system on August 15, Rigetti is also preparing to announce its second-quarter earnings results during marketing hours on August 12. Prior to the activity, analysts tracking the stock expected the company’s second-quarter loss rate to be 28.6%. Further study of fiscal 2025, losses are expected to shrink by 30% to $0.25 per share, indicating steady progress on the road to improving financial conditions.
While Rigetti Computing’s financial position may not have turned yet, the steady pace of its technological advancement is still driving optimism among analysts. Wall Street remained optimistic about RGTI stocks, and the stocks generally received a consensus “forced buy” rating. Of the six analysts covering the name, five were backed up with a “strong buy” rating, while the remaining analyst suggested a “medium buy”. This clearly shows that despite the economic upturn, confidence in Rigetti’s long-term potential remains strong.
The average analyst price target for $15.83 is 13% upside at the current level. Meanwhile, the highest target on the street is $19, suggesting that RGTI can rise to 36% from here.
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On the date of publication, Anushka Mukherji has no (direct or indirect) position in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. This article was originally published on barchart.com
