One of the hottest areas of tech to invest in of late has been quantum computing. It's an exciting area that, while many people may not be all that familiar with it, know that it has the potential to transform the tech world and lead to much more growth. Quantum computing isn't commonplace and may not be anytime soon, but one company that is becoming one of the more prominent names in that niche of late is Rigetti Computing (RGTI 1.03%). It has been struggling so far this year, but could now be the ideal ti ...

Company Performance - Rigetti Computing, Inc. (RGTI) closed at $9.79, marking a +0.93% move from the prior day, outperforming the S&P 500 which registered a daily loss of 0.77% [1] - The stock has risen by 16.39% in the past month, lagging behind the Computer and Technology sector's gain of 16.73% and exceeding the S&P 500's gain of 11.54% [1] Upcoming Earnings - The company's earnings report is set to be disclosed on May 12, 2025, with analysts expecting earnings of -$0.05 per share, indicating year-over-year growth of 64.29% [2] - The consensus estimate anticipates revenue of $2.46 million, reflecting a 19.34% decrease from the same quarter last year [2] Fiscal Year Projections - For the entire fiscal year, Zacks Consensus Estimates project earnings of -$0.20 per share and revenue of $14.52 million, representing changes of +44.44% and +34.57% respectively from the prior year [3] Analyst Sentiment - Recent changes to analyst estimates for Rigetti Computing reflect evolving short-term business trends, with upward revisions indicating analysts' positivity towards the company's operations and profit generation capabilities [4] Zacks Rank - Rigetti Computing currently holds a Zacks Rank of 2 (Buy), with the consensus EPS projection remaining stagnant over the past 30 days [6] - The Zacks Rank system has a strong track record, with stocks rated 1 delivering an average annual return of +25% since 1988 [6] Industry Overview - The Internet - Software industry, part of the Computer and Technology sector, has a Zacks Industry Rank of 84, placing it within the top 35% of over 250 industries [7] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]

Company Overview - Rigetti Computing, Inc. is a pioneer in full-stack quantum computing, operating quantum computers over the cloud since 2017 [2] - The company serves global enterprise, government, and research clients through its Rigetti Quantum Cloud Services platform [2] - In 2021, Rigetti began selling on-premises quantum computing systems with qubit counts between 24 and 84 qubits [2] - The company's 9-qubit Novera™ QPU was introduced in 2023, designed for high-performance, on-premises use [2] - Rigetti has developed the industry's first multi-chip quantum processor for scalable quantum computing systems [2] - The company designs and manufactures its chips in-house at Fab-1, the first dedicated and integrated quantum device manufacturing facility [2] Upcoming Events - Rigetti CEO, Dr. Subodh Kulkarni, will participate in a fireside chat at the 20th Annual Needham Technology, Media & Consumer Conference on May 9, 2025 [1] - The event will be available for live webcast at 1:30 PM ET, with a replay accessible for 90 days post-event [1]

Core Insights - Rigetti Computing has successfully closed a $35 million investment from Quanta Computer, purchasing shares at approximately $11.59 each, as part of a strategic collaboration agreement [1][2] Company Overview - Rigetti Computing is a pioneer in full-stack quantum computing, operating quantum computers over the cloud since 2017 and serving various clients through its Rigetti Quantum Cloud Services platform [2] - The company began selling on-premises quantum computing systems in 2021, with qubit counts ranging from 24 to 84, supporting national laboratories and quantum computing centers [2] - Rigetti introduced its 9-qubit Novera QPU in 2023, designed for high-performance integration into existing cryogenic and control systems [2] - The company has developed the first multi-chip quantum processor for scalable quantum computing systems and manufactures its chips in-house at Fab-1, the first dedicated quantum device manufacturing facility [2] Strategic Collaboration - The collaboration with Quanta is expected to leverage Quanta's expertise in notebook and server manufacturing alongside Rigetti's advancements in superconducting quantum computing, positioning the company at the forefront of the quantum computing industry [2]

Company Overview - Rigetti Computing, Inc. is a pioneer in hybrid quantum-classical computing and has been operating quantum computers over the cloud since 2017 [4] - The company serves global enterprise, government, and research clients through its Rigetti Quantum Cloud Services platform [4] - Rigetti began selling on-premises quantum computing systems in 2021, with qubit counts ranging from 24 to 84 [4] - The company introduced its 9-qubit Novera™ QPU in 2023, designed for high-performance integration into existing cryogenic and control systems [4] - Rigetti has developed the industry's first multi-chip quantum processor for scalable quantum computing systems [4] - The company designs and manufactures its chips in-house at Fab-1, the first dedicated and integrated quantum device manufacturing facility [4] Upcoming Financial Results - Rigetti will release its first quarter 2025 results on May 12, 2025, after market close [1] - A conference call will be held on the same day at 5:00 p.m. ET to discuss financial results and provide updates on business operations [1] - Key details for the call include a webcast link and a live call participant registration link [1][2][3]

Core Insights - Rigetti Computing, Inc. has been awarded a $5.48 million grant from the Air Force Office of Scientific Research to advance its chip fabrication technology, Alternating-Bias Assisted Annealing (ABAA) [2][5] - The consortium includes notable institutions such as Iowa State University, the Royal Melbourne Institute of Technology, the University of Connecticut, and Lawrence Livermore National Laboratory, aiming to understand how ABAA reduces defects in superconducting qubits [2][4] Group 1: Project Overview - The project focuses on developing a deeper understanding of ABAA's impact on chip fabrication at a microscopic level, which is crucial for addressing defects in superconducting qubits [2][3] - Rigetti's ABAA technique involves applying alternating low-voltage pulses at room temperature to the oxide barrier of the Josephson junction, enhancing qubit performance and scalability [3][4] Group 2: Technical Advancements - Devices manufactured using ABAA have shown a reduction in two-level systems (TLSs), which are defects that negatively affect qubit performance [4] - Understanding ABAA's effects on TLSs is expected to facilitate the scaling of superconducting quantum devices and applications relying on amorphous materials [4] Group 3: Strategic Positioning - The CEO of Rigetti emphasized that this project will enhance the company's understanding of superconducting qubit defects, positioning it better for scaling systems with improved performance [5] - Rigetti is actively supporting the U.S. Government's efforts to maintain leadership in quantum computing and is involved in DARPA's Quantum Benchmarking Initiative, which aims for utility-scale quantum computing by 2033 [5] Group 4: Company Background - Rigetti is recognized as a pioneer in full-stack quantum computing and has been operating quantum computers over the cloud since 2017 [6] - The company has developed the industry's first multi-chip quantum processor and manufactures its chips in-house at its dedicated facility, Fab-1 [6]

Industry Overview - Quantum computing is rapidly evolving and promises to solve complex problems at unprecedented speeds, far exceeding classical systems [1] - The market for quantum computing is projected to exceed $170 billion annually by 2040, indicating significant growth potential [2] IonQ Analysis - IonQ has a market capitalization of $5.4 billion, making it the largest pure-play quantum computing stock, more than double that of Rigetti's $2.3 billion valuation [4] - The company utilizes unique trapped-ion technology, leveraging electrically charged atoms as qubits, which allows for operation at room temperature, avoiding the need for subfreezing temperatures [5][6] - IonQ's Forte Enterprise system features 36 algorithmic qubits, representing its most powerful single-core quantum processor, designed for scalable solutions [7] - IonQ's net revenue for 2024 reached $43.1 million, reflecting a 96% year-over-year increase [8] - Major customers span various industries, including pharmaceuticals and logistics, and IonQ has partnerships with cloud providers like Microsoft and Amazon [9] - The company is not yet profitable but expects revenue to nearly double to $97 million in 2025, driven by strong interest in its quantum computing solutions [10] Rigetti Computing Analysis - Rigetti Computing focuses on a vertically integrated business model, controlling chip design, manufacturing, and software development, which may provide long-term advantages [11] - The company operates Fab-1, the first dedicated quantum foundry, allowing for precise control over chip fabrication, potentially leading to cost-effective strategies [12] - Rigetti's superconducting qubits achieve ultra-fast gate speeds of 60 to 80 nanoseconds, significantly faster than ion-based systems [13] - In 2024, Rigetti generated $10.8 million in revenue, but its latest 84-qubit Ankaa-3 system is expected to drive growth [14] - Rigetti's stock has seen a 700% price increase over the past year, outperforming IonQ's 250% return, and the company has a cash position of $217 million [14] Comparative Analysis - IonQ is currently viewed as the better investment option due to its compelling growth outlook and market position [16]

Core Insights - Quantum computing is approaching real-world applications, attracting investor interest in companies like Rigetti Computing (RGTI) and IonQ (IONQ) that are developing future computational power [1][2] - Both companies are in a competitive race to scale quantum systems, targeting government and enterprise contracts [2] Price Performance & Valuation - Year-to-date, shares of Rigetti and IonQ have decreased by 40.3% and 35.9%, respectively [5] - IonQ appears more attractive from a valuation perspective, with a price/book ratio of 15.56 compared to Rigetti's 20.57 [6] Core Technology - Rigetti utilizes superconducting qubits, which are silicon-based circuits, allowing for scalability and faster innovation through its fab facility [8] - IonQ employs trapped-ion technology, which offers high coherence and low error rates, operating near room temperature for enhanced precision [10] Business Model - Rigetti's vertically integrated model controls the entire quantum stack, generating revenue from QPU sales, cloud access, and R&D contracts, with total revenues of $10.8 million in 2024 [11][12] - IonQ follows a cloud-first strategy, primarily earning from quantum computing-as-a-service (QCaaS) and professional services, with total revenues of $43.1 million in 2024 [12] Roadmap & Growth Strategy - Rigetti aims to enhance its quantum systems, planning to launch a 36-qubit modular system by mid-2025 and a 100+ qubit system by year-end [13] - IonQ is focused on scaling its systems and expanding its QCaaS model across industries, leveraging exclusive tech licenses for a strong IP position [13] Market Outlook - The quantum computing market is projected to grow from $1.3 billion in 2024 to $5.3 billion by 2029, with superconducting systems expected to dominate volume deployments [14] - Both companies are positioned for growth, but Rigetti has a better growth potential reflected in its Zacks Growth score of 'D' compared to IonQ's 'F' [19] Financial Estimates - The Zacks Consensus Estimate for Rigetti's 2025 sales implies a year-over-year growth of 34.57%, while IonQ's estimate suggests a growth of 97.34% [15][17] - For 2025, Rigetti's loss per share is projected at $1.09, while IonQ's is expected to be $1.05 [12][17] Investment Appeal - Rigetti's full-stack control and technical credibility cater to government and research sectors, but it faces high valuation and modest growth [20] - IonQ, with larger cash reserves and a scalable model, presents stronger revenue growth and an aggressive roadmap for market expansion [20]

The quantum computing company still has a lot to prove.Rigetti Computing (RGTI 5.67%) is a "pure play" quantum computing company that went public by merging with a special purpose acquisition company (SPAC) three years ago. It designs and manufactures its own quantum processing units (QPUs), builds full quantum computing systems, and hosts a cloud platform for developing quantum applications.Rigetti has been a wildly unpredictable stock. It opened at $9.75 per share on the first day after closing its SPAC m ...

Core Insights - Rigetti UK Limited has been awarded £3.5 million as part of Innovate UK's Quantum Missions pilot competition to enhance quantum error correction (QEC) capabilities on superconducting quantum computers [2][3] - The project aims to address critical challenges in achieving fault-tolerant quantum computing, including high error rates and processing bottlenecks in classical control systems [3][4] - Rigetti will upgrade its existing quantum computer at the National Quantum Computing Centre (NQCC) to facilitate ambitious QEC tests [4][5] Project Details - The consortium led by Rigetti includes Riverlane and the NQCC Superconducting Circuits Team, focusing on real-time QEC capabilities [2][4] - Riverlane will spearhead the QEC experiments, while the NQCC team will provide support and quality assurance [4] - The project aims to achieve measurable improvements in key performance metrics such as throughput, latency, and decoding accuracy [5] Future Developments - Rigetti plans to deploy a larger 36-qubit quantum processing unit (QPU), upgrading from the current 24-qubit QPU [6] - Collaboration with SEEQC aims to integrate digital chip-based technology with Rigetti's 9-qubit Novera™ QPU to identify components necessary for scalable QEC [7] - Additional collaborations with TreQ, Qruise, Q-CTRL, and Oxford Ionics will create an open-architecture quantum computing testbed [7][8] Company Background - Rigetti is recognized as a pioneer in full-stack quantum computing, operating quantum computers over the cloud since 2017 [9] - The company has developed the industry's first multi-chip quantum processor and manufactures its chips in-house at its dedicated facility [9]