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Globe and Mail
4 days ago
- Business
- Globe and Mail
Rigetti Computing Unveils New Quantum Computer Amid Losses
Rigetti Computing Inc. ( (RGTI)) has released its Q2 earnings. Here is a breakdown of the information Rigetti Computing Inc. presented to its investors. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Rigetti Computing Inc. is a leading company in the quantum computing sector, known for its pioneering work in full-stack quantum-classical computing and its development of scalable quantum processors. The company serves a global clientele through its Rigetti Quantum Cloud Services platform. In its recent earnings report for the second quarter of 2025, Rigetti Computing announced significant technological advancements alongside its financial results. The company unveiled the general availability of its 36-qubit multi-chip quantum computer, Cepheus-1-36Q, marking a milestone in its roadmap. Financially, Rigetti reported total revenues of $1.8 million for the quarter, with operating expenses reaching $20.4 million, leading to an operating loss of $19.9 million. The net loss was recorded at $39.7 million, influenced by non-cash losses related to derivative warrant and earn-out liabilities. Despite these losses, the company maintains a strong cash position with $571.6 million in cash, cash equivalents, and available-for-sale investments. On the technology front, Rigetti's Cepheus-1-36Q has achieved a significant reduction in two-qubit gate error rates and improved gate fidelity, positioning the company as a leader in scalable quantum computing. The company's proprietary chiplet-based architecture continues to drive advancements, with plans to release a 100+ qubit system by the end of the year. Looking forward, Rigetti remains confident in its technological trajectory and financial strategy, supported by a recent $350 million equity raise. The company aims to leverage its strong financial position to further its commercial scale-up and explore strategic collaborations and partnerships.
Yahoo
25-07-2025
- Business
- Yahoo
Rigetti Gains 44% in 1 Month: Is Investor Sentiment Starting to Shift?
Rigetti Computing RGTI has surged nearly 44% over the past month, buoyed by a significant technical milestone announced on July 16. The company achieved 99.5% median two-qubit gate fidelity on its new modular 36-qubit system, marking a two-times improvement over its prior best. The system, built from four tiled 9-qubit 'chiplets,' showcases Rigetti's proprietary modular architecture — a key step toward launching a 100+ qubit chiplet-based system by late 2025. The 36-qubit system is set to go live on Aug. 15, reinforcing Rigetti's positioning as a serious full-stack quantum hardware innovator. What makes Rigetti's approach stand out is its vertically integrated model, encompassing in-house chip fabrication, modular hardware, and cloud access via QCS (Quantum Cloud Services). Unlike peers that rely on third-party infrastructure, Rigetti builds its stack end-to-end, a setup that could enable faster iteration and tighter quality control. This integration also positions the company to better align hardware and software development cycles. While Rigetti's revenue base remains relatively small and concentrated in research and government contracts, its consistent technical progress and clear product roadmap are beginning to register with investors looking for long-term potential. Peers Updates By contrast,Arqit Quantum ARQQ stock has lost 3.2% over the same period. The company, initially focused on quantum encryption, has since expanded into broader cybersecurity offerings. It continues to pursue government and defense-related engagements, including collaborations with UK-based defense agencies. However, its evolving business model and shift away from pure-play quantum narratives have led to mixed investor sentiment, as the market assesses its long-term role and differentiation within the broader quantum and cybersecurity landscape. Quantum Computing Inc. QUBT is up approximately 1% over the past month. The company focuses on software-driven quantum and AI solutions, offering platforms like Qatalyst, which aims to simplify quantum optimization through a hardware-agnostic interface. It also recently introduced Dirac, a system designed to support entropy-based quantum processing without the need for cryogenic infrastructure. QUBT is targeting enterprise and cloud-based use cases as it works to expand its footprint in the emerging quantum software space. Rigetti's Price Performance, Valuation and Estimates Shares of RGTI have gained 4.6% in the year-to-date period compared with the industry's growth of 17.9%. Image Source: Zacks Investment Research From a valuation standpoint, Rigetti trades at a price-to-book ratio of 22.36, above the industry average. RGTI carries a Value Score of F. Image Source: Zacks Investment Research The Zacks Consensus Estimate for Rigetti's 2025 earnings implies a significant 86.1% rise from the year-ago period. Image Source: Zacks Investment Research The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Quantum Computing Inc. (QUBT) : Free Stock Analysis Report Arqit Quantum Inc. (ARQQ) : Free Stock Analysis Report Rigetti Computing, Inc. (RGTI) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
01-07-2025
- Business
- Yahoo
Rigetti vs. D-Wave: Which Quantum Computing Stock Has Better Prospects?
As quantum computing evolves from theory to commercialization, two distinct visions are emerging. Rigetti Computing RGTI and D-Wave Quantum Inc. QBTS represent divergent paths toward unlocking quantum advantage. Rigetti focuses on gate-based quantum systems, emphasizing modular superconducting qubit architectures for universal quantum computing. In contrast, D-Wave pioneers quantum annealing, a near-term, optimization-first approach that is already being used in real-world applications. Both companies are advancing quantum adoption through innovation, strategic partnerships, and platform accessibility. Yet their technological bets, business models, and scaling roadmaps differ sharply. This faceoff compares Rigetti and D-Wave in terms of technology, commercial strategy, and long-term growth prospects, helping investors determine which stock better aligns with the future of quantum computing. Shares of Rigetti have plunged 22.3%, while QBTS stock has gained 74.2% in the year-to-date period. Image Source: Zacks Investment Research From a valuation standpoint, RGTI looks slightly more attractive than QBTS. According to the price-to-book ratio, Rigetti's shares currently trade at 16.43, which is lower than D-Wave's 18.82. Image Source: Zacks Investment Research Rigetti is building universal, gate-based quantum computers using superconducting qubits, currently operating the 84-qubit Ankaa-3 system with 99.5% two-qubit fidelity. Its modular architecture enables future chip interconnectivity, while its AI-assisted calibration and proprietary ABAA fabrication process aim to reduce errors and scale up qubit count. Rigetti aims to launch a 108-qubit system by late 2025, with a focus on long-term applications in machine learning, optimization, and materials science. D-Wave's quantum annealing systems are specialized for solving complex optimization problems. Its Advantage2 processor supports over 5,000 qubits, with the company now introducing gate-model quantum capabilities as part of a hybrid roadmap. While annealing is not universal, it is commercially available today, with enterprise use cases in logistics, supply chains, and finance. D-Wave's emphasis is on quantum-hybrid workflows that integrate classical solvers with quantum accelerators. Rigetti operates as a niche hardware innovator, focusing on the development of universal gate-based quantum processors. Its vertically integrated model allows Rigetti to control every aspect of quantum chip design, fabrication, testing, and deployment through its Fab-1 facility. Revenue is primarily generated through its Quantum Cloud Services (QCS) platform, which offers researchers and developers direct access to Rigetti's systems via integrations with Amazon Braket and Microsoft Azure Quantum. Rigetti also partners with government labs, universities, and select enterprises in long-term R&D collaborations. While its customer base is narrower, the company positions itself as a highly specialized enabler for those looking to experiment and build upon modular, gate-based systems. Its business model is long-term by nature, dependent on scientific breakthroughs and hardware scaling milestones rather than immediate commercial wins. D-Wave, in contrast, positions itself as a solution-oriented service provider. Its model emphasizes accessibility and near-term application of quantum technology through its Leap quantum cloud platform, which supports both quantum annealing and hybrid quantum-classical solutions. Unlike Rigetti, D-Wave's revenue streams are more diversified, including quantum application consulting, enterprise contracts, and platform subscriptions. The company targets large-scale industries, including logistics, automotive, aerospace, and finance, by offering ready-to-deploy quantum optimization solutions that seamlessly integrate into existing workflows. Notably, D-Wave already counts major clients like Volkswagen, Mastercard, and Lockheed Martin, validating its commercial-first approach. While its quantum annealing model isn't universal, it provides tangible value today, making its business model more usage-driven and enterprise-focused compared to Rigetti's research-driven path. Rigetti's growth hinges on advancing hardware scalability, doubling qubit counts, and improving fidelity through AI-assisted system calibration and fabrication improvements. The company's $250M Quanta partnership aims to boost chip production and cloud-based access. Rigetti is also increasingly leaning into hybrid workflows and AI integration to attract broader developer communities. D-Wave is expanding its customer base and hybrid capabilities while building toward a universal gate-based system to complement its annealing core. Its growth strategy includes government collaborations, quantum application consulting, and expanding enterprise use cases for its Leap platform. While near-term revenue is driven by annealing, its move toward gate-based systems signals a strategic pivot to stay relevant in future quantum benchmarks. The Zacks Consensus Estimate for RGTI's 2025 sales implies a year-over-year decline of 18.63%. For 2025, the loss per share is projected to be 5 cents compared with 36 cents a year ago. The earnings estimates have been trending upward over the past 60 days. Image Source: Zacks Investment Research The Zacks Consensus Estimate for QBTS' 2025 sales and earnings implies year-over-year growth of 183.4% and 72%, respectively. The earnings estimates have been trending upward over the past 60 days. Image Source: Zacks Investment Research Both Rigetti and D-Wave are pioneering distinct approaches in the quantum computing race—one focusing on gate-based universality, the other delivering real-world value through quantum annealing. Rigetti currently holds a Zacks Rank #4 (Sell), signaling weaker near-term sentiment despite a solid Growth Score of 'B' that reflects its technical roadmap and potential upside. D-Wave, by contrast, carries a Zacks Rank #2 (Buy) and a Growth Score of 'C', underpinned by strong sales momentum and a diversified commercial strategy. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. While Rigetti remains a promising deep-tech innovator targeting long-term breakthroughs, D-Wave's enterprise traction, revenue visibility, and hybrid quantum roadmap position it as the more favorable pick for investors seeking exposure to quantum computing with nearer-term commercial potential. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Rigetti Computing, Inc. (RGTI) : Free Stock Analysis Report D-Wave Quantum Inc. (QBTS) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
11-06-2025
- Business
- Globe and Mail
Rigetti Computing Completes $350 Million At-the-Market Equity Offering
BERKELEY, Calif., June 11, 2025 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (Nasdaq: RGTI) ('Rigetti' or the 'Company'), a pioneer in full-stack quantum-classical computing, today announced that it has completed sales of $350 million gross proceeds of its common stock pursuant to its previously disclosed at-the-market equity offering program. With this additional funding, Rigetti will have approximately $575 million of cash, cash equivalents and available-for-sale investments with no debt, and is well positioned to support commercial scale-up of its superconducting gate-based quantum computers. Rigetti intends to use the proceeds from the offering primarily for working capital, capital expenditures and other general corporate purposes, and may also use a portion of the net proceeds to enter into strategic collaborations, acquisitions or partnerships in the future. About Rigetti Rigetti is a pioneer in full-stack quantum computing. The Company has operated quantum computers over the cloud since 2017 and serves global enterprise, government, and research clients through its Rigetti Quantum Cloud Services platform. In 2021, Rigetti began selling on-premises quantum computing systems with qubit counts between 24 and 84 qubits, supporting national laboratories and quantum computing centers. Rigetti's 9-qubit Novera QPU was introduced in 2023 supporting a broader R&D community with a high-performance, on-premises QPU designed to plug into a customer's existing cryogenic and control systems. The Company's proprietary quantum-classical infrastructure provides high-performance integration with public and private clouds for practical quantum computing. Rigetti has developed the industry's first multi-chip quantum processor for scalable quantum computing systems. The Company designs and manufactures its chips in-house at Fab-1, the industry's first dedicated and integrated quantum device manufacturing facility. Learn more at Rigetti Computing Media Contact press@ Cautionary Language Concerning Forward-Looking Statements Certain statements in this communication may be considered 'forward-looking statements' within the meaning of the federal securities laws, including statements with respect to the Company's expectations with respect to its future success and performance, including expectations with respect to its use of funds, business strategy, and being well-positioned to support commercial scale-up of its superconducting gate-based quantum computers, and the potential of the Company's business and quantum computing generally. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by the Company and its management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: the Company's ability to achieve milestones, technological advancements, including with respect to its technology roadmap; the ability of the Company to obtain government contracts successfully and in a timely manner and the availability of government funding; the potential of quantum computing; the success of the Company's partnerships and collaborations, including the strategic collaboration with Quanta; the Company's ability to accelerate its development of multiple generations of quantum processors; the outcome of any legal proceedings that may be instituted against the Company or others; the ability to maintain relationships with customers and suppliers and attract and retain management and key employees; costs related to operating as a public company; changes in applicable laws or regulations; the possibility that the Company may be adversely affected by other economic, business, or competitive factors; the Company's estimates of expenses and profitability; the evolution of the markets in which the Company competes; the ability of the Company to implement its strategic initiatives and expansion plans; the expected use of proceeds from the Company's past and future financings or other capital; the sufficiency of the Company's cash resources; unfavorable conditions in the Company's industry, the global economy or global supply chain, including rising inflation and interest rates, deteriorating international trade relations, political turmoil, natural catastrophes, warfare and terrorist attacks; and other risks and uncertainties set forth in the section entitled 'Risk Factors' and 'Cautionary Note Regarding Forward-Looking Statements' in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 and other documents filed by the Company from time to time with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements other than as required by applicable law. The Company does not give any assurance that it will achieve its expectations.
Forbes
04-06-2025
- Business
- Forbes
RGTI Stock: What's Next After An 1,100% Rally?
Rigetti Computing (NASDAQ: RGTI) has emerged as a standout performer in the quantum computing sector, with its stock price surging a remarkable 1,080% over the past twelve months. This extraordinary growth reflects the mounting excitement around quantum computing technology and its potential to transform multiple industries. The fundamental appeal of quantum computing lies in its departure from traditional binary computing systems. While conventional computers process information using bits that exist in either zero or one states, quantum computers utilize qubits that can exist in multiple states simultaneously. This quantum superposition enables these systems to perform complex calculations and process vast datasets by exploring numerous potential outcomes concurrently. The practical applications span diverse sectors including financial modeling, drug discovery, and materials science. However, the technology faces a critical challenge: error rates increase proportionally with system complexity and higher qubit counts. This inherent volatility is characteristic of emerging technologies but represents a significant hurdle for widespread adoption. Despite these challenges, the quantum computing industry has achieved notable milestones. Major technology companies including Google, IBM, and Rigetti have successfully demonstrated scalable quantum systems with dozens of qubits, marking crucial progress toward practical applications. IBM leads the field with its 1,121-qubit Condor processor and ambitious plans to develop 100,000-qubit systems by 2033. Now, for investors looking for potential gains with less volatility, the High Quality portfolio has comfortably outperformed the S&P 500, delivering over 91% returns since inception. Separately, see – Is CRWD Stock Overvalued At $460? Rigetti distinguishes itself in the quantum computing field by utilizing superconducting qubits, specifically tunable transmons. These are controlled by microwave pulses at extremely low temperatures within dilution refrigerators. Their Ankaa-class architecture uses a square lattice of qubits and tunable couplers to enable high-fidelity two-qubit operations. Rigetti's product strategy includes both entry-level and advanced quantum processing units: Rigetti plans to develop a 100-qubit system by the end of the year. These systems prioritize achieving high two-qubit gate fidelity rates exceeding 99%, a crucial factor for practical quantum error correction. Rigetti's technology is accessible through its Quantum Cloud Services platform and partnerships with major cloud providers like Amazon Braket and Microsoft Azure. While Rigetti's technological achievements are impressive, the financial picture reveals the early-stage nature of the quantum computing market. The company generated only $9.2 million in revenue over the last twelve months while reporting an operating loss of $74 million during the same period. These figures underscore that quantum computing remains primarily in the developmental phase rather than widespread commercial deployment. The stock's performance history illustrates the inherent volatility of emerging technology investments. During the 2022 inflation shock, RGTI's value plummeted 96% compared to the S&P 500's peak-to-trough decline of 25.4%. This dramatic differential demonstrates the heightened risk associated with quantum computing stocks during adverse market conditions. Rigetti represents a classic high-risk, high-reward investment opportunity within the quantum computing sector. The company's future trajectory depends heavily on continued technological breakthroughs and effective cost management. Success in scaling quantum computer production could drive significant stock appreciation, making RGTI essentially a bet on both quantum computing's future potential and Rigetti's ability to capture market share. The company has established relationships with notable clients including NASA, Phasecraft, and Standard Chartered, providing some validation of its technology's commercial viability. As quantum computing technology continues advancing, improved accuracy and broader industry adoption should benefit established players like Rigetti. However, investors must weigh these opportunities against substantial risks. The technology remains experimental, competition from well-funded giants like IBM and Google is intense, and the timeline for widespread commercial adoption remains uncertain. There always remains a meaningful risk when investing in stocks that are far from widespread commercial deployment. Consider Trefis High Quality (HQ) Portfolio which, with a collection of 30 stocks, has a track record of comfortably outperforming the S&P 500 over the last 4-year period. Why is that? As a group, HQ Portfolio stocks provided better returns with less risk versus the benchmark index; less of a roller-coaster ride, as evident in HQ Portfolio performance metrics.
