Is Rigetti Computing a Buy?

Group 1: Industry Overview - Quantum computing is seen as a transformative technology that could address significant global challenges and create new markets [1] - Google has developed a quantum computing chip that can perform calculations in five minutes that would take current top computers 10 septillion years [2] - The quantum computing market is projected to be worth between $1 billion and$2 billion after 2030, indicating a long wait for substantial market opportunities [8] Group 2: Company Analysis - Rigetti Computing is competing in the quantum computing space but faces challenges in achieving practical applications of its technology [6][7] - The company has a market capitalization of $2.6 billion, but its stock may be overvalued given the projected market size and potential revenue [9][10] - Rigetti's share count has doubled since going public, leading to concerns about share dilution and the need for significantly higher revenue to maintain valuation [10][11] Group 3: Investment Considerations - The consensus among industry leaders is that practical quantum computers are still 5 to 30 years away, suggesting that investors may need to be patient [7][8] - Rigetti's potential revenue by 2030, if it captures a tenth of the projected market, would result in a high price-to-sales ratio of 13, raising questions about profitability [10] - The likelihood of larger cloud companies like Amazon, Microsoft, and Google dominating the early quantum computing market raises doubts about Rigetti's competitive position [13]