Overview
- Shares of IonQ, Rigetti and D‑Wave edged higher Wednesday after recent losses, lifted by the Energy Department’s $625 million five‑year commitment to quantum R&D.
- Rigetti illustrates the disconnect, trading near 1,000 times sales with operations still unprofitable despite a Q1 accounting gain, according to financial filings and LSEG data.
- Analyst views diverge, with Benchmark raising its Rigetti target to $50 while B. Riley cut the rating to Neutral and lifted its target to $42, citing a premium valuation and potential shutdown headwinds.
- Policy and corporate signals remain key drivers, as JPMorgan outlined up to $10 billion for strategic sectors including quantum and the Commerce Department said it is not negotiating equity‑for‑funding deals.
- Technical news supported sentiment, including D‑Wave’s BASF manufacturing workflow proof‑of‑concept and Google’s Willow chip showing verifiable quantum advantage, with IonQ due after Wednesday’s close, D‑Wave Thursday morning and Rigetti on Nov. 11.