Overview

• On July 2, Cantor Fitzgerald analyst Troy Jensen began coverage of Rigetti with an Overweight rating and $15 price target, sending shares up nearly 10%.
• Following a $350 million June equity offering, Rigetti holds about $575 million in cash and carries no debt.
• A five-year co-investment deal with Quanta Computer commits $250 million from each firm to advance Rigetti’s quantum technology and commercialization efforts.
• Rigetti’s 84-qubit Ankaa-3 system achieved an industry-leading 99.5% median two-qubit gate fidelity, highlighting progress toward practical quantum hardware.
• Despite a 1,000% year-over-year rally, Rigetti remains in the early stages of commercializing its quantum computing platform, with broad applications still years away.