Overview
- Rigetti stock fell Friday afternoon after a sharp rally earlier in the week tied to retail interest and thin holiday trading conditions, reversing some recent gains.
- Traders focused on the company’s 2026 roadmap that targets higher-qubit systems with lower error rates, alongside a halo from moves by peers such as IonQ and D‑Wave.
- Wedbush initiated coverage with an Outperform rating and a $35 price target, citing Rigetti’s chiplet approach and vertically integrated production.
- Rigetti says it demonstrated a large multichip system and a 100+‑qubit chiplet with about 99.5% fidelity, booked two Novera orders totaling $5.7 million for H1 2026 delivery, joined Nvidia’s NVQLink, and won a three‑year $5.8 million AFRL contract with QphoX.
- Validation questions persist after Rigetti was not among the first 11 companies advancing in DARPA’s Quantum Benchmarking Initiative.