Analyst revamps Rigetti price target for one unexpected reason originally appeared on TheStreet.
Quantum computing may still sound like science fiction to some, but a few pure-play stocks are turning that dream into serious market firepower.
Call it hype or the future, but quantum computing stocks continue to deliver on Wall Street, building on their late-2024 surge.
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Even with the bubble chatter, some niche players continue racking up big gains, while building tech that promises to flip the script on modern computing.
One standout, though, is proving it can efficiently scale its cutting-edge quantum tech and build real momentum outside the lab.
Backed by heavyweight partnerships and a ton of cash, this frontrunner just scored a fresh Wall Street nod as it rockets ahead.
Rigetti Computing (RGTI) has quickly become one of the bellwethers in the quantum computing space.
It has set itself apart in delivering a full-stack system, combining its own superconducting qubit chips, control hardware, and a cloud-ready software platform.
At the heart of it all is Rigetti Quantum Cloud Services (QCS). For developers, QCS streamlines things, offering instant access to Rigetti’s processors along with simple APIs and SDKs to run mixed quantum-classical workflows.
On the financial front, Rigetti is in a relatively impressive position. In its first quarter, it posted $1.5 million in revenue and $42.6 million in net income ( mostly due to non-cash gains).
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More importantly, it wrapped up the quarter with a hefty $209 million in its cash till.
It was later supercharged in June by raising another $350 million through an at-the-market equity offering, bringing those cash reserves to about $575 million.
Moreover, 2025 has been a busy year for its business. Rigetti locked in a $35 million equity deal with Quanta Computer to scale quantum module production.
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In a foray into the Asia-Pacific region, it also signed an MOU with South Korea’s Norma to launch an 84-qubit system.
On the R&D front, it was among the 15 finalists in DARPA’s Quantum Benchmarking Initiative, a critical government push to get superconducting systems to “utility-scale” performance by 2033.
Also, with partnerships with the UK’s National Quantum Computing Centre, Rigetti is showing that it’s not just building chips, but an entire ecosystem.
