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Can Rigetti Computing's USask Deal Boost Its Quantum Growth Story?
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Key Takeaways
RGTI sold a 9-qubit Novera QPU to USask, marking its entry into the university's first quantum platform.
Rigetti expands beyond cloud with on-premise systems, integrating third-party tech for flexibility.
RGTI targets academic adoption to drive early-stage use and support its scalable quantum roadmap.
Rigetti Computing (RGTI - Free Report) continues to deepen its foothold in the emerging quantum computing ecosystem with the sale of its 9-qubit Novera QPU to the University of Saskatchewan (USask). The system will be the main part of USask’s first quantum computing platform, showing growing adoption of Rigetti’s full-stack approach that combines its own hardware with a growing partner network. While the deal size is unlikely to be financially material in the near term, its strategic value lies in strengthening Rigetti’s presence in academic and research institutions, an important customer segment that drives early-stage adoption, experimentation, and long-term pipeline development in quantum computing.
More importantly, the deployment highlights Rigetti’s ability to commercialize its technology beyond cloud access and into on-premise quantum systems, a key differentiator in the current landscape. By integrating its Novera QPU with third-party components like cryogenic infrastructure, control systems, and automation software, Rigetti is positioning itself as a flexible platform provider rather than just a hardware vendor. This partner-led ecosystem approach not only broadens its addressable market but also reinforces its long-term vision of scalable quantum systems, including its roadmap toward higher qubit architectures under the Cepheus platform.
Peers Updates
At NVIDIA GTC, IonQ (IONQ - Free Report) announced a Memorandum of Understanding with the Korea Institute of Science and Technology Information to jointly explore quantum–high-performance computing hybrid technologies and strengthen the quantum ecosystem in South Korea. Additionally, IonQ has partnered with the University of Cambridge to launch the IonQ Quantum Innovation Centre, aimed at advancing research and collaboration, further reinforcing IonQ’s growing role in the global quantum landscape.
Quantum Computing Inc. (QUBT - Free Report) is steadily positioning itself as a versatile player in applied quantum technologies, expanding its presence across government, aerospace and commercial domains. QUBT recently secured a contract from National Institute of Standards and Technology to design and develop thin-film lithium niobate photonic integrated circuits, highlighting QUBT’s growing strength in advanced photonics.
In addition, QUBT won a subcontract tied to NASA Langley Research Center, where QUBT is working on quantum-driven methods to eliminate solar noise from space-based LiDAR data. This development underscores QUBT’s increasing involvement in cutting-edge aerospace applications and reinforces QUBT’s broader innovation capabilities.
RGTI’s Price Performance, Valuation and Estimates
Shares of RGTI have lost 35.9% in the year-to-date period compared with the industry’s decline of 18.2%.
Image Source: Zacks Investment Research
From a valuation standpoint, Rigetti Computing trades at a price-to-book ratio of 8.64, above the industry average. RGTI carries a Value Score of F.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Rigetti Computing’s 2026 earnings implies a significant 74.3% improvement from the year-ago period.
View the Zacks #1 Rank List
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Can Rigetti Computing's USask Deal Boost Its Quantum Growth Story?
Key Takeaways
Rigetti Computing (RGTI - Free Report) continues to deepen its foothold in the emerging quantum computing ecosystem with the sale of its 9-qubit Novera QPU to the University of Saskatchewan (USask). The system will be the main part of USask’s first quantum computing platform, showing growing adoption of Rigetti’s full-stack approach that combines its own hardware with a growing partner network. While the deal size is unlikely to be financially material in the near term, its strategic value lies in strengthening Rigetti’s presence in academic and research institutions, an important customer segment that drives early-stage adoption, experimentation, and long-term pipeline development in quantum computing.
More importantly, the deployment highlights Rigetti’s ability to commercialize its technology beyond cloud access and into on-premise quantum systems, a key differentiator in the current landscape. By integrating its Novera QPU with third-party components like cryogenic infrastructure, control systems, and automation software, Rigetti is positioning itself as a flexible platform provider rather than just a hardware vendor. This partner-led ecosystem approach not only broadens its addressable market but also reinforces its long-term vision of scalable quantum systems, including its roadmap toward higher qubit architectures under the Cepheus platform.
Peers Updates
At NVIDIA GTC, IonQ (IONQ - Free Report) announced a Memorandum of Understanding with the Korea Institute of Science and Technology Information to jointly explore quantum–high-performance computing hybrid technologies and strengthen the quantum ecosystem in South Korea. Additionally, IonQ has partnered with the University of Cambridge to launch the IonQ Quantum Innovation Centre, aimed at advancing research and collaboration, further reinforcing IonQ’s growing role in the global quantum landscape.
Quantum Computing Inc. (QUBT - Free Report) is steadily positioning itself as a versatile player in applied quantum technologies, expanding its presence across government, aerospace and commercial domains. QUBT recently secured a contract from National Institute of Standards and Technology to design and develop thin-film lithium niobate photonic integrated circuits, highlighting QUBT’s growing strength in advanced photonics.
In addition, QUBT won a subcontract tied to NASA Langley Research Center, where QUBT is working on quantum-driven methods to eliminate solar noise from space-based LiDAR data. This development underscores QUBT’s increasing involvement in cutting-edge aerospace applications and reinforces QUBT’s broader innovation capabilities.
RGTI’s Price Performance, Valuation and Estimates
Shares of RGTI have lost 35.9% in the year-to-date period compared with the industry’s decline of 18.2%.
Image Source: Zacks Investment Research
From a valuation standpoint, Rigetti Computing trades at a price-to-book ratio of 8.64, above the industry average. RGTI carries a Value Score of F.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Rigetti Computing’s 2026 earnings implies a significant 74.3% improvement from the year-ago period.
Image Source: Zacks Investment Research
The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.