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Rigetti Expands Quantum Footprint as 1,000-Qubit Roadmap Advances
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Key Takeaways
Rigetti is expanding commercial and government deployments as demand for direct quantum hardware access grows.
RGTI's 108-qubit Cepheus platform delivers about 99.1% two-qubit fidelity and gate speeds near 60 nanoseconds.
Rigetti targets about 1,000 qubits, 99.9% two-qubit fidelity and sub-40-nanosecond gates within three years.
Rigetti Computing (RGTI - Free Report) is expanding its commercial and government presence as it advances its superconducting quantum computing roadmap toward quantum advantage. The company recently deepened its partnership with Hewlett Packard Enterprise and the Pittsburgh Supercomputing Center by supplying a full 9-qubit Novera system for the NSF-funded TangleLab testbed, where researchers will develop hybrid quantum-classical HPC workloads. Management also said that on-premises deployments remain on track, including the 108-qubit C-DAC system in India, while demand is increasing from universities, national laboratories and commercial organizations seeking direct access to quantum hardware for research and experimentation.
Rigetti also highlighted continued technical progress on its 108-qubit Cepheus platform, which is delivering roughly 99.9% median single-qubit gate fidelity, 99.1% two-qubit gate fidelity and gate speeds of about 60 nanoseconds. The company is working to improve coherence times through chip design and materials innovations while targeting systems with around 1,000 qubits, 99.9% two-qubit fidelity and sub-40-nanosecond gate speeds over the next three years. Meanwhile, a proposed U.S. Department of Commerce funding package of up to $100 million and planned investments in the United Kingdom are expected to strengthen Rigetti's manufacturing, infrastructure and chiplet-based development efforts as global competition in quantum computing accelerates.
Peers Updates
IonQ's (IONQ - Free Report) strengthened its full-stack quantum computing platform by completing the SkyWater and Nexus acquisitions, expanding its merchant supplier capabilities across the United States and allied markets. The company also advanced its technology roadmap by moving closer to demonstrating a 256-qubit quantum computer and progressing its quantum error-correction research, positioning it to capitalize on long-term growth opportunities in the quantum computing market.
D-Wave Quantum (QBTS - Free Report) posted $3.1 million in revenues in the second quarter of 2026, essentially flat year over year. The company recognized revenues from approximately 100 customers, with commercial enterprises accounting for roughly 62.4% of revenues, up from 45.1% a year earlier.
D-Wave’s QCaaS subscription revenues jumped 50% year over year to $1.9 million, while professional services revenues grew more than 18% to roughly $900,000. Systems and other revenues were $300,000, largely from installation and site preparation related to the $20 million Florida Atlantic University sale.
Rigetti’s Price Performance, Valuation and Estimates
Shares of RGTI have lost 29.3% in the year-to-date period compared with the industry’s decline of 0.9%.
Image Source: Zacks Investment Research
From a valuation standpoint, Rigetti trades at a price-to-book ratio of 9.72, 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 71.9% improvement from the year-ago period.
Image Source: Zacks Investment Research
The company currently has a Zacks Rank #5 (Strong Sell).
View the Zacks #1 Rank List
Image: Bigstock
Rigetti Expands Quantum Footprint as 1,000-Qubit Roadmap Advances
Key Takeaways
Rigetti Computing (RGTI - Free Report) is expanding its commercial and government presence as it advances its superconducting quantum computing roadmap toward quantum advantage. The company recently deepened its partnership with Hewlett Packard Enterprise and the Pittsburgh Supercomputing Center by supplying a full 9-qubit Novera system for the NSF-funded TangleLab testbed, where researchers will develop hybrid quantum-classical HPC workloads. Management also said that on-premises deployments remain on track, including the 108-qubit C-DAC system in India, while demand is increasing from universities, national laboratories and commercial organizations seeking direct access to quantum hardware for research and experimentation.
Rigetti also highlighted continued technical progress on its 108-qubit Cepheus platform, which is delivering roughly 99.9% median single-qubit gate fidelity, 99.1% two-qubit gate fidelity and gate speeds of about 60 nanoseconds. The company is working to improve coherence times through chip design and materials innovations while targeting systems with around 1,000 qubits, 99.9% two-qubit fidelity and sub-40-nanosecond gate speeds over the next three years. Meanwhile, a proposed U.S. Department of Commerce funding package of up to $100 million and planned investments in the United Kingdom are expected to strengthen Rigetti's manufacturing, infrastructure and chiplet-based development efforts as global competition in quantum computing accelerates.
Peers Updates
IonQ's (IONQ - Free Report) strengthened its full-stack quantum computing platform by completing the SkyWater and Nexus acquisitions, expanding its merchant supplier capabilities across the United States and allied markets. The company also advanced its technology roadmap by moving closer to demonstrating a 256-qubit quantum computer and progressing its quantum error-correction research, positioning it to capitalize on long-term growth opportunities in the quantum computing market.
D-Wave Quantum (QBTS - Free Report) posted $3.1 million in revenues in the second quarter of 2026, essentially flat year over year. The company recognized revenues from approximately 100 customers, with commercial enterprises accounting for roughly 62.4% of revenues, up from 45.1% a year earlier.
D-Wave’s QCaaS subscription revenues jumped 50% year over year to $1.9 million, while professional services revenues grew more than 18% to roughly $900,000. Systems and other revenues were $300,000, largely from installation and site preparation related to the $20 million Florida Atlantic University sale.
Rigetti’s Price Performance, Valuation and Estimates
Shares of RGTI have lost 29.3% in the year-to-date period compared with the industry’s decline of 0.9%.
Image Source: Zacks Investment Research
From a valuation standpoint, Rigetti trades at a price-to-book ratio of 9.72, 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 71.9% improvement from the year-ago period.
Image Source: Zacks Investment Research
The company currently has a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.