Rigetti Computing, Inc. (RGTI)

Rigetti Computing's stock (RGTI) has experienced a significant surge in the past six months, with an increase of over 368%. This rise is attributed to technological breakthroughs, including achieving 99.5% median two-qubit gate fidelity on its 36-qubit modular system, Cepheus-1, and 99.2% two-qubit fidelity on the Ankaa-3 system. The company secured a $5.8 million deal with the U.S. Air Force Research Laboratory and has benefited from discussions about government equity stakes. Rigetti received purchase orders totaling approximately $5.7 million for two of its 9-qubit Novera™ quantum computing systems, signaling commercial validation. The company completed a $350 million equity offering, and analysts from B. Riley and Benchmark raised Rigetti's stock price target. The broader "quantum hype" and increased capital pouring into the quantum computing sector have also driven the stock higher. Despite the stock appreciation, some analysts have raised concerns about Rigetti's weak fundamentals, including increased operating losses and decreased revenue in Q2 2025, and a lofty valuation.

The provided search results do not contain specific information about the demand seasonality for Rigetti Computing, Inc.'s products and services. Demand is primarily driven by research and development initiatives, government contracts, and early commercial adoption in specialized fields. Demand is more likely influenced by technological breakthroughs, funding availability, and the evolving needs of its enterprise, government, and research clients.

Rigetti Computing, Inc., based in Berkeley, California, specializes in full-stack quantum computing, operating in the Technology sector, primarily in Computer Hardware, but also touching upon Computer Processing Hardware, EDP Services, and Internet - Software. The company designs and builds quantum computers and the superconducting quantum processors that power them. Its major products and services include Quantum Processing Units (QPUs), Quantum Computing Systems, Forest Cloud Platform, Quantum Cloud Services (QCS), Professional Services, and Fab-1.

Rigetti Computing is headquartered in Berkeley, California, and operates its Fab-1 manufacturing facility in Fremont, California. While the company derives the majority of its revenue from the United States, it also builds quantum computers and superconducting quantum processors for clients in the United Kingdom, the rest of Europe, and Asia.

Rigetti Computing's brand reputation in the past year has been significantly shaped by its technological advancements and strategic partnerships, positioning it as a frontrunner in the quantum computing sector. Achieving high two-qubit gate fidelity on its quantum systems and securing a $5.8 million contract with the U.S. Air Force Research Laboratory have bolstered its reputation. Purchase orders for its Novera quantum computing systems demonstrate growing commercial interest, and positive analyst ratings reflect confidence in the company's trajectory. Despite these positive developments, Rigetti faces challenges typical of a deep-tech firm, with financial performance leading to some skepticism regarding its valuation and long-term commercial viability.

Rigetti Computing, Inc. (RGTI) stock ownership is a mix of institutional, insider, and retail investors. Approximately 38.40% to 39.33% of the company's stock is held by institutional shareholders, while insiders hold about 17.46%. Retail investors own approximately 44.14% of the company. Bessemer Venture Partners X LP is the largest individual Rigetti Computing shareholder, owning 12.49% of the company.