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Rigetti Shares Stay Hot as Benchmark Sets $50 Target and AI Trade Drives Volatile Gains

Investors are keying off a $50 target, $21 million in 2025 work, a $571 million war chest.

Overview

  • Rigetti closed up about 9% on Thursday while the S&P 500 and Nasdaq slipped, extending a sharp recent rally tied to advanced-compute themes.
  • Shares swung on Friday as markets weakened following President Donald Trump’s social media threat of higher tariffs on Chinese goods.
  • Benchmark’s David Williams reiterated a Buy rating earlier this week and raised his price target to $50, citing sector momentum and Rigetti’s positioning.
  • The company reported $21 million in contracts for 2025 and disclosed $5.7 million in orders for its 9‑qubit Novera systems, with delivery targeted in the first half of 2026.
  • Rigetti says it holds roughly $571 million in cash after a recent raise, while investors also highlight Nvidia ties and a chiplet architecture as potential advantages.