Overview
- Rigetti shares rose about 15% on Thursday, extending a three-day rebound tied to growing expectations for a Federal Reserve rate cut next week.
- The stock’s moves remain extreme, with a roughly 667% gain over the past year offset by a drop of about 57% from October highs and a 42% slide over the last month.
- Third-quarter results underscored weak fundamentals, with revenue near $1.9 million, down about 18% year over year, and a sharply wider net loss of roughly $201 million alongside a $20.5 million operating loss.
- The company says it is seeing momentum for on‑premises systems and R&D partnerships, and it targets a 150+‑qubit system by late 2026 and a 1,000+‑qubit system in 2027 with high two‑qubit gate fidelities.
- Commentary highlights Rigetti as a high‑risk speculative play, with some recommending IBM as a steadier quantum option given its 120‑qubit Nighthawk system and an internal projection to produce systems at scale by 2029.