Why Rigetti Computing (RGTI) Is Up 33.1% After Securing $5.7 Million in Quantum Hardware Orders

• Rigetti Computing announced it has secured approximately US$5.7 million in purchase orders for two upgradeable 9-qubit Novera™ quantum computing systems, with deliveries expected in the first half of 2026 to an Asian technology manufacturer and a California-based startup.
• This signals growing commercial interest in practical quantum hardware and marks progress toward wider adoption of Rigetti's technology beyond research labs.
• We'll explore how expanding commercial orders for the Novera system elevate Rigetti's investment narrative and ambitions in quantum computing deployment.

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What Is Rigetti Computing's Investment Narrative?

To invest in Rigetti Computing, you have to believe in the significant long-term potential of quantum computing and the company’s ability to carve out a leadership role despite ongoing losses, high valuation, and the sector’s early-stage status. The recent US$5.7 million in Novera system orders from commercial buyers marks a shift in Rigetti’s story, as it breaks away from purely research and government contracts, providing direct commercial validation. While this is a promising signal for market traction, the impact on near-term financials is relatively contained given Rigetti’s net losses and ongoing cash burn, though it could strengthen the case for accelerated commercial adoption. The main catalysts remain linked to further commercial contracts and execution of the product roadmap, while key risks persist around unprofitability, share dilution, and high Price-To-Book ratios, a combination that stirs both optimism and caution given the recent share price volatility and retail enthusiasm. The market’s eye has turned to whether contracts like these create a sustainable path to profitability or simply amplify the stock’s momentum. On the other hand, the risk from persistent losses and shareholder dilution may have only grown more pressing in recent months.

Upon reviewing our latest valuation report, Rigetti Computing's share price might be too optimistic.

Exploring Other Perspectives

The Simply Wall St Community contributes 43 individual fair value estimates for Rigetti, ranging from just US$0.22 to as high as US$26.83 per share. Some see extreme upside, while others expect little value here. Against this spectrum, the debate around losses and dilution remains front of mind for many. Explore these varied viewpoints for additional insight into Rigetti’s future.

Explore 43 other fair value estimates on Rigetti Computing - why the stock might be worth less than half the current price!

Build Your Own Rigetti Computing Narrative

Disagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Rigetti Computing research is our analysis highlighting 1 key reward and 4 important warning signs that could impact your investment decision.
• Our free Rigetti Computing research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Rigetti Computing's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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