Core Insights - The rise in Rigetti Computing's stock (RGTI) is attributed to Amazon's Quantum Embark program and U.S. lawmakers' initiatives for $2.7 billion funding in quantum computing [1][2] - The global quantum computing market is valued at $1.3 billion in 2023, projected to grow at a CAGR of 32.7% to $5.3 billion by 2029, with a long-term estimate of $1.3 trillion by 2035 [2] Company Developments - Rigetti Computing is scaling its business and has an optimistic outlook, having launched a new Novera quantum processor with 9 qubits and plans to deploy an 84-qubit Ankaa-3 system [3][7] - The company has established a Quantum Cloud Services platform that integrates with traditional hardware, providing significant cost savings for clients [6] Market Position - Rigetti Computing has outperformed NVIDIA in stock growth this year, with a 495.3% increase compared to NVIDIA's 164.7% [9] - Wall Street's interest in quantum computing is increasing, with expectations for it to have a similar impact as generative AI in the upcoming year [9] Future Outlook - Management anticipates revenue growth in 2025 and beyond, following a decline this year, indicating a positive trajectory for share prices [10] - The company is addressing challenges in quantum computing, such as noise vulnerability, through new chip fabrication [10]

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Rigetti Computing (RGTI) shares have skyrocketed 691.9% in the past month compared with the Zacks  Internet - Software industry’s return of 2% and the broader Zacks Computer & Technology sector’s growth of 2%. RGTI shares have outperformed its peers International Business Machines (IBM) and Microsoft (MSFT) , which offer quantum computing hardware and software solutions. Shares of IBM and Microsoft have gained 34.6% and 16.5%, respectively, in the same time frame. The outperformance can be attributed to RGT ...

Quantum Computing Industry Overview - Quantum computing employs qubits that can exist in multiple states simultaneously, enabling complex calculations and processing large amounts of data [1] - Applications of quantum computing include financial modeling, drug discovery, and materials science [2] - The industry faces challenges with increasing errors as systems grow more complex with higher qubit counts [2] - Recent advancements by Google and Amazon in quantum computing have fueled a rally in quantum stocks [3] - $2 7 billion in government funding for quantum computing has positively impacted the sector [3] Rigetti Computing Company Analysis - Rigetti Computing is a leading player in the quantum computing ecosystem, offering a Quantum Computing as a Service (QCaaS) platform [3] - The company has developed a quantum processing unit called Novera with 9 qubits [3] - Rigetti generates revenue from development contracts with partners and focuses on QPUs for long-term sales [4] - The company could potentially sell hundreds of QPUs over the next ten years, driving stock growth [4] - RGTI stock has shown significant volatility, with returns of -92% in 2022 and 35% in 2023 [5] Investment Considerations - RGTI stock has experienced a 500% rise in a month, with potential for further growth [1] - Quantum computing remains in a developmental stage and is not yet ready for widespread practical implementation [4] - The Trefis High Quality Portfolio, which includes 30 stocks, has outperformed the S&P 500 with >91% returns since inception and less volatility compared to RGTI [2][5]

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Rigetti Computing, Inc. (RGTI) .Rigetti Computing currently has an average ...

Nvidia's Growth and Market Position - A $1,000 investment in Nvidia over the past 10 years would have grown to roughly $265,840, largely driven by its data center GPUs for AI tasks [1] - Nvidia's revenue grew at a CAGR of 31% from fiscal 2014 to fiscal 2024, with analysts expecting a CAGR of 56% from fiscal 2024 to fiscal 2027 as the AI market expands [3] - Nvidia is the world's second-most valuable company with a market cap of $3.35 trillion, but investors seeking bigger gains might look to small-cap companies in nascent growth industries [4] Quantum Computing Market Potential - Quantum computers use qubits to process data faster than traditional binary computers, though they are still massive, expensive, and error-prone [6] - The quantum computing market is expected to expand at a CAGR of 34.8% from 2024 to 2032 as companies work to miniaturize QPUs and improve error correction [7] Rigetti Computing Overview - Rigetti Computing, a $335 million quantum computing stock, has rallied nearly 80% this year and aims to become a leader in the quantum computing niche [5] - The company designs and manufactures quantum integrated circuits and offers a cloud platform for developers to write quantum algorithms, making it a "full-stack" quantum computing company [8][9] - Rigetti went public via a SPAC merger in March 2022, despite the high costs of manufacturing, operating, and maintaining quantum computing hardware [10] Rigetti's Financial Performance and Challenges - Rigetti's revenue grew from $8 million in 2021 to $13 million in 2022 but declined to $12 million in 2023, missing its pre-merger projection of $34 million in 2023 [11] - The company faced challenges including uneven government contracts, leadership changes, rising interest rates, and persistent losses, leading to a stock price low of $0.38 in May 2023 [12] Rigetti's Technological Advancements and Future Plans - Rigetti launched its 9-qubit Novera QPU in December 2023, priced at $900,000, with orders from customers like SQMS, AFRL, and Horizon Quantum Computing [13] - The company plans to deploy its 84-qubit Ankaa-3 system by the end of 2024, a 36-qubit modular system in 2025, and a 100-qubit non-modular system by the end of 2025, with long-term goals for a 336-qubit system [14] - Analysts expect Rigetti's revenue to decline 8% to $11 million in 2024 but grow 47% to $16.2 million in 2025 and surge 130% to $37.3 million in 2026 as it scales up its business [15] Rigetti's Speculative Potential - Rigetti's stock is priced at 9 times its 2026 sales, and while it has grand ambitions in the quantum computing market, it remains a highly speculative play with risks of running out of cash before scaling up [16]

Core Viewpoint - Rigetti Computing (RGTI) has significantly outperformed major competitors and the broader technology sector in year-to-date performance, indicating strong market positioning and growth potential in the quantum computing space [1][2]. Year-to-Date Performance - RGTI shares have appreciated by 96.9% year-to-date, compared to Salesforce (28.8%), IBM (38.2%), and Alphabet (20%), while the broader sector has seen a 27.6% increase [1]. - In the Zacks Internet - Software industry, RGTI outperformed with a return of 96.9% against the industry's 31.2% [2]. Expansion of Portfolio - Rigetti's advancements in quantum computing technology are driving growth, with the introduction of a new modular system architecture and plans for a 36-qubit system by mid-2025 and a 100-qubit system by the end of 2025 [5]. - The company achieved a 99.4% median 2-qubit gate fidelity on its 9-qubit chips, which is essential for scaling quantum systems [5]. - The introduction of the Alternating Bias-Assisted Annealing technique enhances the fidelity and performance of quantum processors, supporting multi-chip architecture and scaling efforts [6]. Market Positioning - RGTI's modular chip architecture allows for efficient scaling by linking multiple identical chips, positioning the company to meet increasing market demand for scalable quantum systems [7]. - The quantum computing market is projected to grow at a CAGR of 20.1% from 2024 to 2030, indicating a favorable environment for RGTI's growth [8]. Clientele Expansion - Partnerships with Riverlane, NQCC, and collaborations with NVIDIA and Quantum Machines are significant growth drivers for Rigetti [9]. - Rigetti and Riverlane's development of quantum error correction technology is crucial for improving stability and reliability in quantum computing [10]. - Rigetti's technology is being utilized at the National Quantum Computing Centre in the UK, enhancing its profile in the international quantum research community [12]. Financial Performance - The Zacks Consensus Estimate for fourth-quarter revenues is projected at $2.40 million, reflecting a decline of 28.99% year-over-year [13]. - The consensus for earnings indicates a loss of 8 cents per share, which is an 11.11% increase from the previous year's quarter [14]. - RGTI's forward 12-month Price/Sales ratio is 35.50X, significantly higher than the sector's 3.02X, suggesting that the stock may not be undervalued [17].

Market Performance - U.S. stocks experienced a positive trading session, with the Dow Jones index increasing by over 400 points, closing up 0.95% at 44,718.05. The NASDAQ rose 0.25% to 19,050.84, and the S&P 500 gained 0.29% to 5,986.39 [1]. Sector Performance - Consumer discretionary shares saw a notable increase of 1.6% on Monday [2]. - Energy shares, in contrast, fell by 1.8% [3]. Company News - BridgeBio Pharma, Inc. (BBIO) shares surged 19% to $27.80 following FDA approval of Attruby for treating adults with ATTR-CM [5]. - Quantum Computing Inc. (QUBT) shares rose 12% to $6.80 after AWS announced the Quantum Embark program [5]. - Rigetti Computing, Inc. (RGTI) shares increased by 56% to $2.7211 after completing a $100 million at-the-market equity offering aimed at working capital and advancements in superconducting quantum computing technology [5]. - Cassava Sciences, Inc. (SAVA) shares plummeted 81% to $4.7301 after announcing that Simufilam did not significantly reduce cognitive decline in Alzheimer's patients [6]. - Oncternal Therapeutics, Inc. (ONCT) shares dropped 46% to $0.6201 due to NASDAQ's plans to delist its stock [6]. - CareMax, Inc. (CMAX) shares fell 14% to $0.6205 amid restructuring and bankruptcy challenges [6]. Commodity Market - Oil prices decreased by 3.3% to $68.92, while gold prices fell by 3.4% to $2,621.10 [7]. - Silver also declined by 3.4% to $30.265, while copper saw a slight increase of 0.2% to $4.0925 [8]. European Market - European shares showed positive movement, with the eurozone's STOXX 600 gaining 0.06%, Germany's DAX up 0.43%, and France's CAC 40 rising 0.03% [9]. - The Ifo Business Climate indicator for Germany decreased to 85.7 in November from 86.5 in October, falling short of market expectations [9]. Asian Market - Asian markets closed mixed, with Japan's Nikkei 225 gaining 1.30% and India's BSE Sensex up 1.25%, while Hong Kong's Hang Seng Index fell by 0.41% and China's Shanghai Composite Index decreased by 0.11% [10].

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Core Insights - Rigetti Computing, Inc. is a pioneer in full-stack quantum-classical computing and is set to present at SEMICON Europa 2024, discussing the transformative potential of superconducting quantum computing [1][2]. Group 1: Keynote Presentation - Dr. Subodh Kulkarni, CEO of Rigetti, will deliver a keynote titled "Superconducting Quantum Computing: Building on Decades of Semiconductor Innovation for Transformative Computational Power" at SEMICON Europa [3]. - The keynote will focus on advancements in quantum computing, neuromorphic computing, and trusted electronics, exploring the ecosystems surrounding these technologies [3]. Group 2: Future Roadmap - Rigetti has announced a 2025 roadmap that includes a new modular system architecture, with plans to release a 36-qubit system by mid-2025 and a system with over 100 qubits by the end of 2025, both targeting a 99.5% median 2-qubit fidelity [4]. - The upcoming systems will utilize the Alternating-Bias Assisted Annealing (ABAA) chip fabrication technique, which allows for precise qubit frequency targeting, forming the basis of Rigetti's scaling strategy [5]. Group 3: Technological Advantages - The company asserts that superconducting qubits are the leading modality for high-performance quantum computers, achieving gate speeds of 60-80 nanoseconds, significantly faster than other modalities like ion traps and neutral atoms [6]. - Rigetti's multi-chip architecture aims to leverage its strengths in technology stack and modular QPU design to enhance performance optimization [6]. Group 4: Company Overview - Rigetti has been operating quantum computers over the cloud since 2017, serving a diverse clientele including global enterprises, government, and research institutions through its Rigetti Quantum Cloud Services platform [7]. - The company has developed the industry's first multi-chip quantum processor and manufactures its chips in-house at Fab-1, the first dedicated quantum device manufacturing facility [7].