ZACKS·2025-10-16 18:10Core Insights - Rigetti Computing (RGTI) has experienced a remarkable 264% year-to-date increase, indicating potential commercial traction for its technology [1][9] - Key catalysts for this surge include new purchase orders for its 9-qubit Novera systems and a contract with the U.S. Air Force Research Laboratory, suggesting growing demand beyond research [1][9] - Rigetti's advancements in chiplet-based architecture have renewed investor confidence in its scalability and cost efficiency, positioning it as a more competitive player in the quantum computing sector [1] Company Developments - Rigetti is expanding its global presence through collaborations with India's Centre for Development of Advanced Computing (C-DAC) and Montana State University, enhancing its credibility and opportunities in quantum cloud services [2] - Despite the strong momentum, Rigetti's revenue base remains small, and the company continues to face losses, raising questions about its ability to sustain growth [3][9] Peer Updates - IonQ (IONQ) has made strategic acquisitions to enhance its quantum roadmap, improving system scalability and performance while expanding its intellectual property portfolio [4][5] - Arqit Quantum (ARQQ) is focusing on quantum-safe encryption and has joined the Oracle Defense Ecosystem, which strengthens its position in secure networks [6][7] Financial Performance - Rigetti's shares have outperformed the industry, gaining 263.8% compared to the industry's 17% growth [8] - The company currently trades at a price-to-book ratio of 32.88, which is above the industry average, and carries a Value Score of F [11] - The Zacks Consensus Estimate for Rigetti's 2025 earnings suggests a significant 86.1% increase from the previous year [12]