We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Rigetti Gains From Potential $100 Million U.S. Quantum R&D Backing
Read MoreHide Full Article
Key Takeaways
Rigetti signed an LOI for up to $100M in U.S. funding to advance superconducting quantum computing.
Proposed funding could support R&D, ease balance-sheet pressure and speed commercialization efforts.
The agreement would give the U.S. Commerce Department an equity stake tied to funding awarded.
Rigetti Computing (RGTI - Free Report) recently announced that it has signed a letter of intent (LOI) with the U.S. Department of Commerce for an award of up to $100 million over three years to accelerate research and development efforts in superconducting quantum computing. The proposed funding, which falls under the CHIPS Act's Research and Development Office program, is intended to support projects aimed at overcoming key technical challenges associated with scaling quantum computers.
The agreement underscores the U.S. government's commitment to strengthening domestic leadership in next-generation technologies and positions Rigetti among a select group of companies expected to play a critical role in advancing the country's quantum computing capabilities. Under the terms of the LOI, the Department of Commerce would receive an equity stake in Rigetti tied to the amount of funding ultimately awarded.
The development represents a meaningful strategic and financial catalyst for Rigetti as it seeks to accelerate the commercialization of its quantum computing platform. The potential funding could help the company pursue ambitious R&D initiatives without placing additional pressure on its balance sheet, while speeding efforts to address scalability bottlenecks that remain a key hurdle for the broader quantum industry.
Management believes the investment will bring Rigetti closer to utility-scale quantum computing, a milestone that could unlock opportunities across national security, advanced materials research, drug discovery, financial modeling and energy applications. Beyond the capital infusion, the government's willingness to partner with Rigetti serves as a strong endorsement of the company's technology and may strengthen its competitive position as quantum computing investment and adoption continue to expand.
Peers Updates
IonQ (IONQ - Free Report) recently opened a new 22,000-square-foot quantum computing R&D laboratory and semiconductor chip testing facility in Boulder, CO, to support the development of future generations of its trapped-ion quantum computing systems. The facility will enable the company to design, test and refine advanced semiconductor ion-trap chips, with plans to install its first quantum computer later this year. By expanding its presence in Colorado's growing quantum technology ecosystem and leveraging the region's deep-tech talent pool, IONQ aims to accelerate innovation, scale production capabilities and advance its roadmap toward fault-tolerant quantum computing.
D-Wave Quantum (QBTS - Free Report) also recently announced that it has signed an LOI with the U.S. Department of Commerce for $100 million in proposed funding under the CHIPS and Science Act to accelerate the development and scaling of its annealing and gate-model quantum computing technologies. The funding, which would be accompanied by a $100 million equity stake for the U.S. government, is expected to support quantum system development at D-Wave’s upcoming Boca Raton, FL, facility and its existing R&D centers. The initiative could help accelerate the delivery of advanced quantum systems, including a 100,000-qubit annealing computer and a 10,000-qubit gate-model system, while strengthening the company’s position in the growing quantum computing market and supporting broader U.S. technology leadership objectives.
Rigetti Computing’s Price Performance, Valuation and Estimates
Shares of RGTI have gained 15.7% in the year-to-date period against the industry’s decline of 6.2%.
Image Source: Zacks Investment Research
From a valuation standpoint, Rigetti trades at a price-to-book ratio of 14.59, above the industry average. RGTI carries a Value Score of F.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Rigetti’s 2026 earnings implies a significant 70.3% improvement from the year-ago period.
Image Source: Zacks Investment Research
The company currently carries a Zacks Rank #4 (Sell).
View the Zacks #1 Rank List
Image: Bigstock
Rigetti Gains From Potential $100 Million U.S. Quantum R&D Backing
Key Takeaways
Rigetti Computing (RGTI - Free Report) recently announced that it has signed a letter of intent (LOI) with the U.S. Department of Commerce for an award of up to $100 million over three years to accelerate research and development efforts in superconducting quantum computing. The proposed funding, which falls under the CHIPS Act's Research and Development Office program, is intended to support projects aimed at overcoming key technical challenges associated with scaling quantum computers.
The agreement underscores the U.S. government's commitment to strengthening domestic leadership in next-generation technologies and positions Rigetti among a select group of companies expected to play a critical role in advancing the country's quantum computing capabilities. Under the terms of the LOI, the Department of Commerce would receive an equity stake in Rigetti tied to the amount of funding ultimately awarded.
The development represents a meaningful strategic and financial catalyst for Rigetti as it seeks to accelerate the commercialization of its quantum computing platform. The potential funding could help the company pursue ambitious R&D initiatives without placing additional pressure on its balance sheet, while speeding efforts to address scalability bottlenecks that remain a key hurdle for the broader quantum industry.
Management believes the investment will bring Rigetti closer to utility-scale quantum computing, a milestone that could unlock opportunities across national security, advanced materials research, drug discovery, financial modeling and energy applications. Beyond the capital infusion, the government's willingness to partner with Rigetti serves as a strong endorsement of the company's technology and may strengthen its competitive position as quantum computing investment and adoption continue to expand.
Peers Updates
IonQ (IONQ - Free Report) recently opened a new 22,000-square-foot quantum computing R&D laboratory and semiconductor chip testing facility in Boulder, CO, to support the development of future generations of its trapped-ion quantum computing systems. The facility will enable the company to design, test and refine advanced semiconductor ion-trap chips, with plans to install its first quantum computer later this year. By expanding its presence in Colorado's growing quantum technology ecosystem and leveraging the region's deep-tech talent pool, IONQ aims to accelerate innovation, scale production capabilities and advance its roadmap toward fault-tolerant quantum computing.
D-Wave Quantum (QBTS - Free Report) also recently announced that it has signed an LOI with the U.S. Department of Commerce for $100 million in proposed funding under the CHIPS and Science Act to accelerate the development and scaling of its annealing and gate-model quantum computing technologies. The funding, which would be accompanied by a $100 million equity stake for the U.S. government, is expected to support quantum system development at D-Wave’s upcoming Boca Raton, FL, facility and its existing R&D centers. The initiative could help accelerate the delivery of advanced quantum systems, including a 100,000-qubit annealing computer and a 10,000-qubit gate-model system, while strengthening the company’s position in the growing quantum computing market and supporting broader U.S. technology leadership objectives.
Rigetti Computing’s Price Performance, Valuation and Estimates
Shares of RGTI have gained 15.7% in the year-to-date period against the industry’s decline of 6.2%.
Image Source: Zacks Investment Research
From a valuation standpoint, Rigetti trades at a price-to-book ratio of 14.59, above the industry average. RGTI carries a Value Score of F.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Rigetti’s 2026 earnings implies a significant 70.3% improvement from the year-ago period.
Image Source: Zacks Investment Research
The company currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.