Rigetti Computing Expands Global Presence with UK Quantum Computer Launch
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 21 2022
0mins
Source: globenewswire
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Analyst Views on RGTI
Wall Street analysts forecast RGTI stock price to rise
10 Analyst Rating
7 Buy
3 Hold
0 Sell
Moderate Buy
Current: 20.640
Low
30.00
Averages
39.75
High
51.00
Current: 20.640
Low
30.00
Averages
39.75
High
51.00
About RGTI
Rigetti Computing, Inc. is a full-stack quantum computing company. The Company operates quantum computers over the cloud and serves global enterprise, government, and research clients through its Rigetti Quantum Cloud Services platform. The Company’s quantum-classical infrastructure provides high-performance integration with public and private clouds for practical quantum computing. It has developed a multi-chip quantum processor for scalable quantum computing systems. Through the Company’s Quantum Computing as a Service (QCaaS) platform, its machines can be integrated into any public, private or hybrid cloud. It is also engaged in the sale of quantum processing units (QPUs) and custom computing components, and development contracts and other services. Its QPUs contain fabricated silicon-based chips featuring superconducting qubits. The Company designs and manufactures its chips in-house at Fab-1, an integrated quantum device manufacturing facility.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Quantum Computing Stocks Experience Volatility and Future Prospects
- IonQ's Strong Performance: IonQ reported Q1 revenue of $64.7 million, a staggering 755% increase year-over-year, and raised its full-year guidance to between $260 million and $270 million, showcasing its robust business foundation despite a 21% drop in stock price due to market sentiment.
- D-Wave's Quantum Growth: D-Wave's Q1 revenue was modest at $2.9 million, yet its closed bookings soared to $33.4 million, up 1,994% year-over-year, indicating strong demand for its quantum computing services, even as its stock has declined approximately 23% year-to-date.
- Rigetti's Market Challenges: Rigetti Computing posted Q1 2026 revenue of $4.4 million, and while it holds over $569 million in cash and has a deal to sell a 108-qubit system, its market valuation does not reflect commercial progress, with a 19% drop in stock price year-to-date.
- Sector Revaluation Phenomenon: The IPO filing of Quantinuum at a $12.7 billion valuation has prompted a reevaluation of the quantum computing sector, indicating that while the underlying technology remains intact, investors must be cautious in selecting stocks to avoid chasing overvalued companies.
See More
Analysis of Quantum Computing Companies' Performance and Valuation
- Rigetti's Revenue Struggles: Rigetti Computing reported Q1 2026 revenue of $4.4 million, and despite having over $569 million in cash, its thin revenue base raises doubts about its valuation, indicating challenges in its commercialization journey.
- IonQ's Strong Performance: IonQ achieved $64.7 million in revenue for Q1, a 755% year-over-year increase, and raised its full-year guidance to $260-$270 million, solidifying its leadership in quantum computing, yet its stock price fell 21%, reflecting market caution about its execution capabilities.
- D-Wave's Significant Booking Growth: D-Wave Quantum's Q1 revenue was $2.9 million, but its closed bookings soared to $33.4 million, up 1994% year-over-year, including a $20 million system sale to Florida Atlantic University, suggesting the market may be underestimating its commercial momentum.
- Market Valuation Reset: While the underlying quantum technology remains intact, the market's recalibration of valuations necessitates careful assessment of each stock's potential, especially in the current economic climate where not every company in the sector merits renewed attention.
See More
Quantum Computing Stocks Volatile but One Offers Exceptional Value
- IonQ's Strong Performance: IonQ reported Q1 revenue of $64.7 million, a 755% year-over-year increase, and raised its full-year guidance to between $260 million and $270 million, showcasing a robust business foundation despite a 21% drop in stock price due to market sentiment.
- D-Wave's Business Growth: D-Wave generated $2.9 million in Q1 revenue but secured $33.4 million in bookings, reflecting a staggering 1,994% year-over-year growth, including a $20 million system sale to Florida Atlantic University, indicating strong market demand.
- Rigetti's Challenges: Rigetti Computing posted $4.4 million in revenue for Q1 2026, and despite having over $569 million in cash reserves, its thin commercial revenue base raises valuation concerns, leading to a 19% decline in stock price year-to-date.
- Market Recalibration: The quantum computing sector is undergoing a valuation recalibration, as evidenced by Quantinuum's IPO filing at a $12.7 billion valuation, reminding investors that while the underlying technology remains intact, expectations for future performance have significantly adjusted, necessitating careful stock selection.
See More
Quantinuum's IPO Transforms Quantum Computing Landscape
- IPO Impact on Quantum Sector: Quantinuum's successful IPO raised $1.68 billion with a valuation exceeding $15 billion, significantly boosting market confidence in quantum computing and forcing competitors to reassess their business models.
- IonQ's Strong Performance: IonQ reported a 755% year-over-year revenue increase to $64.7 million in Q1, exceeding guidance by 30%, and raised its full-year revenue guidance to between $260 million and $270 million, showcasing its competitive edge in the quantum computing market.
- D-Wave's Surge in Orders: Despite a staggering 81% drop in Q1 revenue to $2.9 million, D-Wave's bookings skyrocketed 1994% year-over-year to $33.4 million, indicating a rapid growth in enterprise demand that could translate into significant future revenue.
- Rigetti's Market Pressure: Rigetti's Q1 revenue stood at $4.4 million, and while it boasts $569 million in cash with no debt, it faces intense competitive pressure from Quantinuum, necessitating a faster commercialization process to maintain its market position.
See More
New Landscape in Quantum Computing IPOs
- Quantum Market Shakeup: Quantinuum's successful IPO in June raised $1.68 billion at a valuation exceeding $15 billion, marking a significant turning point in the quantum computing sector and putting pressure on existing players like IonQ, Rigetti, and D-Wave.
- Rigetti's Challenges: With Q1 2026 revenue at $4.4 million and $569 million in cash with no debt, Rigetti faces competitive pressure from Quantinuum, necessitating an accelerated commercialization process to maintain its market position.
- D-Wave's Turnaround: Despite a staggering 81% drop in Q1 revenue to $2.9 million, D-Wave's bookings surged 1,994% year-over-year to $33.4 million, indicating strong potential in the quantum computing services market, particularly through partnerships with large enterprises.
- IonQ's Edge: IonQ reported a 755% year-over-year revenue increase to $64.7 million in Q1, raising its full-year guidance to $260 million to $270 million, showcasing robust growth and competitive strength in the quantum computing landscape, positioning it as the clear winner post-Quantinuum's IPO.
See More
HPE Partners with Quantum Tech Firms for Hybrid Computing
- Quantum Computing Collaboration: HPE announced a partnership with Intel, Rigetti, and six other quantum technology firms to build a hybrid quantum-supercomputing platform, aiming to enhance real-world quantum applications by integrating quantum, AI, and high-performance computing systems.
- Technology Integration Strategy: The initiative is designed to support the development of future hybrid computing environments capable of addressing complex scientific, industrial, and national security challenges, which is expected to enhance HPE's competitive position in the quantum computing sector.
- Performance Growth Momentum: HPE's stock has performed exceptionally well in 2026, gaining over 168% year-to-date, primarily driven by increasing demand for AI infrastructure, with its Cloud and AI segment generating $7.7 billion in revenue in Q2, up 22.8% year-on-year.
- Retail Investor Sentiment: Despite bearish sentiment on Stocktwits, with a 385% increase in message volume over 24 hours, there is growing market interest in HPE's initiative to integrate quantum computing with AI, indicating potential for significant upward movement in stock price.
See More
Quantum Computing Stocks Experience Volatility and Future Prospects
- IonQ's Strong Performance: IonQ reported Q1 revenue of $64.7 million, a staggering 755% increase year-over-year, and raised its full-year guidance to between $260 million and $270 million, showcasing its robust business foundation despite a 21% drop in stock price due to market sentiment.
- D-Wave's Quantum Growth: D-Wave's Q1 revenue was modest at $2.9 million, yet its closed bookings soared to $33.4 million, up 1,994% year-over-year, indicating strong demand for its quantum computing services, even as its stock has declined approximately 23% year-to-date.
- Rigetti's Market Challenges: Rigetti Computing posted Q1 2026 revenue of $4.4 million, and while it holds over $569 million in cash and has a deal to sell a 108-qubit system, its market valuation does not reflect commercial progress, with a 19% drop in stock price year-to-date.
- Sector Revaluation Phenomenon: The IPO filing of Quantinuum at a $12.7 billion valuation has prompted a reevaluation of the quantum computing sector, indicating that while the underlying technology remains intact, investors must be cautious in selecting stocks to avoid chasing overvalued companies.
See More
Analysis of Quantum Computing Companies' Performance and Valuation
- Rigetti's Revenue Struggles: Rigetti Computing reported Q1 2026 revenue of $4.4 million, and despite having over $569 million in cash, its thin revenue base raises doubts about its valuation, indicating challenges in its commercialization journey.
- IonQ's Strong Performance: IonQ achieved $64.7 million in revenue for Q1, a 755% year-over-year increase, and raised its full-year guidance to $260-$270 million, solidifying its leadership in quantum computing, yet its stock price fell 21%, reflecting market caution about its execution capabilities.
- D-Wave's Significant Booking Growth: D-Wave Quantum's Q1 revenue was $2.9 million, but its closed bookings soared to $33.4 million, up 1994% year-over-year, including a $20 million system sale to Florida Atlantic University, suggesting the market may be underestimating its commercial momentum.
- Market Valuation Reset: While the underlying quantum technology remains intact, the market's recalibration of valuations necessitates careful assessment of each stock's potential, especially in the current economic climate where not every company in the sector merits renewed attention.
See More
Quantum Computing Stocks Volatile but One Offers Exceptional Value
- IonQ's Strong Performance: IonQ reported Q1 revenue of $64.7 million, a 755% year-over-year increase, and raised its full-year guidance to between $260 million and $270 million, showcasing a robust business foundation despite a 21% drop in stock price due to market sentiment.
- D-Wave's Business Growth: D-Wave generated $2.9 million in Q1 revenue but secured $33.4 million in bookings, reflecting a staggering 1,994% year-over-year growth, including a $20 million system sale to Florida Atlantic University, indicating strong market demand.
- Rigetti's Challenges: Rigetti Computing posted $4.4 million in revenue for Q1 2026, and despite having over $569 million in cash reserves, its thin commercial revenue base raises valuation concerns, leading to a 19% decline in stock price year-to-date.
- Market Recalibration: The quantum computing sector is undergoing a valuation recalibration, as evidenced by Quantinuum's IPO filing at a $12.7 billion valuation, reminding investors that while the underlying technology remains intact, expectations for future performance have significantly adjusted, necessitating careful stock selection.
See More
Quantinuum's IPO Transforms Quantum Computing Landscape
- IPO Impact on Quantum Sector: Quantinuum's successful IPO raised $1.68 billion with a valuation exceeding $15 billion, significantly boosting market confidence in quantum computing and forcing competitors to reassess their business models.
- IonQ's Strong Performance: IonQ reported a 755% year-over-year revenue increase to $64.7 million in Q1, exceeding guidance by 30%, and raised its full-year revenue guidance to between $260 million and $270 million, showcasing its competitive edge in the quantum computing market.
- D-Wave's Surge in Orders: Despite a staggering 81% drop in Q1 revenue to $2.9 million, D-Wave's bookings skyrocketed 1994% year-over-year to $33.4 million, indicating a rapid growth in enterprise demand that could translate into significant future revenue.
- Rigetti's Market Pressure: Rigetti's Q1 revenue stood at $4.4 million, and while it boasts $569 million in cash with no debt, it faces intense competitive pressure from Quantinuum, necessitating a faster commercialization process to maintain its market position.
See More
New Landscape in Quantum Computing IPOs
- Quantum Market Shakeup: Quantinuum's successful IPO in June raised $1.68 billion at a valuation exceeding $15 billion, marking a significant turning point in the quantum computing sector and putting pressure on existing players like IonQ, Rigetti, and D-Wave.
- Rigetti's Challenges: With Q1 2026 revenue at $4.4 million and $569 million in cash with no debt, Rigetti faces competitive pressure from Quantinuum, necessitating an accelerated commercialization process to maintain its market position.
- D-Wave's Turnaround: Despite a staggering 81% drop in Q1 revenue to $2.9 million, D-Wave's bookings surged 1,994% year-over-year to $33.4 million, indicating strong potential in the quantum computing services market, particularly through partnerships with large enterprises.
- IonQ's Edge: IonQ reported a 755% year-over-year revenue increase to $64.7 million in Q1, raising its full-year guidance to $260 million to $270 million, showcasing robust growth and competitive strength in the quantum computing landscape, positioning it as the clear winner post-Quantinuum's IPO.
See More
HPE Partners with Quantum Tech Firms for Hybrid Computing
- Quantum Computing Collaboration: HPE announced a partnership with Intel, Rigetti, and six other quantum technology firms to build a hybrid quantum-supercomputing platform, aiming to enhance real-world quantum applications by integrating quantum, AI, and high-performance computing systems.
- Technology Integration Strategy: The initiative is designed to support the development of future hybrid computing environments capable of addressing complex scientific, industrial, and national security challenges, which is expected to enhance HPE's competitive position in the quantum computing sector.
- Performance Growth Momentum: HPE's stock has performed exceptionally well in 2026, gaining over 168% year-to-date, primarily driven by increasing demand for AI infrastructure, with its Cloud and AI segment generating $7.7 billion in revenue in Q2, up 22.8% year-on-year.
- Retail Investor Sentiment: Despite bearish sentiment on Stocktwits, with a 385% increase in message volume over 24 hours, there is growing market interest in HPE's initiative to integrate quantum computing with AI, indicating potential for significant upward movement in stock price.
See More
