Rigetti Just Hit a New Quantum Computing Milestone. Should You Buy RGTI Stock Now?
The Berkeley-based company's breakthrough represents a 2x reduction in error rates compared to its previous best results, bringing quantum computing closer to practical applications that could generate meaningful revenue.
More News from Barchart
It's Never 'Happened in the History of Tech to Any Company Before': OpenAI's Sam Altman Says ChatGPT is Growing at an Unprecedented Rate
This Penny Stock Wants to Become the MicroStrategy of Dogecoin
Option Volatility And Earnings Report For July 21 - 25
Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else.
The achievement hinges on Rigetti's proprietary modular chip technology, which combines four 9-qubit 'chiplets' to create a 36-qubit system. This approach leverages semiconductor industry techniques to enable scaling while maintaining high performance, a critical challenge in quantum computing where error rates typically increase with system size.
'We benefit from the many advantages of superconducting qubits, including gate speeds more than 1,000x faster than other modalities like ion trap and pure atoms, and scalability,' CEO Subodh Kulkarni explained.
Unlike competitors using trapped ions or atoms, Rigetti's superconducting qubits operate at extremely low temperatures, which reduces electrical resistance and enables them to maintain quantum states for longer periods.
The timing appears favorable for quantum investments, with the sector gaining momentum as companies move from research to commercial applications. Rigetti plans to launch its 36-qubit system on Aug. 15 and deliver a system with over 100 qubits by year-end 2025.
However, investors should exercise caution. Rigetti has reported year-over-year revenue declines for four consecutive quarters, with Q2 expectations calling for adjusted losses of $0.04 per share on $1.87 million revenue. While the technical milestone is impressive, the company must still demonstrate its ability to monetize quantum supremacy.
Is RGTI Stock a Good Buy Right Now?
In Q1 2025, Rigetti Computing reported revenue of $1.5 million, down over 50% from $3.1 million in the year-ago period. While investors were worried about the decline in sales, the quantum computing pioneer secured several strategic wins that could accelerate its path to commercial viability.
Rigetti was selected for DARPA's prestigious quantum benchmarking initiative, advancing to Stage A with a $1 million award. Kulkarni emphasized the program's significance, noting that DARPA chose only 15 companies from over 100 applicants to develop 'utility-scale quantum computing' within seven years. Rigetti's proposal combines its proprietary multichip architecture with quantum error correction codes, targeting systems with over 10,000 qubits and a gate fidelity of 99.9%.
Rigetti also secured a $5.48 million Air Force consortium award to advance its breakthrough ABAA chip fabrication technology, which improves qubit frequency targeting by a factor of 10. It received three UK Innovate awards to collaborate on quantum error correction with the National Quantum Computing Center, including upgrading their existing system to 36 qubits.
Moreover, Quanta committed $250 million over five years for the development of non-QPU hardware, including control systems and manufacturing components.
This partnership enables Rigetti to focus its resources on core QPU technology while leveraging Quanta's expertise in high-volume manufacturing.
Kulkarni reaffirmed the company's chiplet roadmap, targeting 36 qubits at 99.5% fidelity by mid-2025 and over 100 qubits by year-end. He emphasized chiplets as the only viable path to scale superconducting quantum computers, noting competitors' struggles with larger monolithic chips.
While revenue remains lumpy due to the industry's R&D phase, Rigetti's strategic partnerships and technical progress position it well for the transition to commercial quantum computing expected in 3-5 years. The DARPA selection particularly validates its technology approach against major competitors, such as International Business Machines (IBM).
Is Rigetti Computing Stock Undervalued Right Now?
Analysts tracking RGTI stock anticipate sales to increase from $10.8 million in 2024 to $150 million by 2029. Comparatively, losses per share are forecast to narrow from $0.29 in 2024 to $0.16 in 2028.
Out of the six analysts covering RGTI stock, five recommend 'Strong Buy' and one recommends 'Moderate Buy'. The average RGTI stock price target is $14.83, below the current price.
On the date of publication, Aditya Raghunath did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
17 minutes ago
- Yahoo
Canada Awards New Patent to bioAffinity Technologies for CyPath® Lung, Company's Noninvasive Lung Cancer Diagnostic
New patent protects market expansion to the north where lung cancer is leading cause of cancer deaths SAN ANTONIO, July 22, 2025--(BUSINESS WIRE)--bioAffinity Technologies, Inc. (Nasdaq: BIAF; BIAFW), a biotechnology company advancing early-stage cancer diagnostics including CyPath® Lung, the Company's commercially available test for early-stage lung cancer, today announced its patent related to a method to detect lung disease through flow cytometry analysis of sputum has been allowed by the Canadian Patent Office. This patent strengthens the international protection of the Company's diagnostic platform that powers its flagship test, CyPath® Lung. "As with the recent announcement of the award of our patent in China, this Canadian patent reflects our continued execution toward building long-term shareholder value through innovation, protection of our unique assets, and a clear focus on early cancer detection that can save lives," said Maria Zannes, President and CEO of bioAffinity Technologies. Lung cancer is the leading cause of cancer death in Canada, according to the Canadian Cancer Society. In 2024, approximately 31,000 Canadians were diagnosed with lung cancer, and approximately 20,700 people died of the disease. More than 70% of the lung cancer deaths were linked to smoking. "We believe that the award of this patent by the Canadian Patent Office further validates the diagnostic platform behind CyPath® Lung, expands the global footprint of our intellectual property portfolio and highlights the strength of our science," Ms. Zannes said. "Recent case studies highlight CyPath Lung's ability to detect lung cancer at its earliest stages, making our test all the more valuable in Canada where 50% of all lung cancer cases are diagnosed late at Stage IV with the five-year survival rate overall of about 19% in Canada, according to government statistics." The Canadian patent (Patent No. 3,136,245) – titled "System and Method for Determining Lung Health" – protects the use of defined antibodies and the porphyrin TCPP to label cell populations in sputum and the use of flow cytometry to determine the presence of lung cancer cells in the sputum. CyPath® Lung is the Company's first commercial product, with clinical study results demonstrating 92% sensitivity, 87% specificity and 88% accuracy in detecting lung cancer in patients at high risk for the disease who had small lung nodules less than 20 millimeters. About CyPath® Lung CyPath® Lung uses proprietary advanced flow cytometry and artificial intelligence (AI) to identify cell populations in patient sputum that indicate malignancy. Automated data analysis helps determine if cancer is present or if the patient is cancer-free. CyPath® Lung incorporates a fluorescent porphyrin that is preferentially taken up by cancer and cancer-related cells. Clinical study results demonstrated that CyPath® Lung had 92% sensitivity, 87% specificity and 88% accuracy in detecting lung cancer in patients at high risk for the disease who had small lung nodules less than 20 millimeters. Diagnosing and treating early-stage lung cancer can improve outcomes and increase patient survival. For more information, visit About bioAffinity Technologies, Inc. bioAffinity Technologies, Inc. addresses the need for noninvasive diagnosis of early-stage cancer and other diseases of the lung and broad-spectrum cancer treatments. The Company's first product, CyPath® Lung, is a noninvasive test that has shown high sensitivity, specificity and accuracy for the detection of early-stage lung cancer. CyPath® Lung is marketed as a Laboratory Developed Test (LDT) by Precision Pathology Laboratory Services, a subsidiary of bioAffinity Technologies. For more information, visit Forward-Looking Statements Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements regarding the benefits to be derived from the patent, the Company's ability to safeguard its intellectual property, and the ability to market CyPath® Lung in Canada. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict, that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the benefits to be derived from the patent, the Company's ability to safeguard its intellectual property, and the ability to market CyPath® Lung in Canada, and other factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. Such forward-looking statements are based on facts and conditions as they exist at the time such statements are made and predictions as to future facts and conditions. While the Company believes these forward-looking statements are reasonable, readers of this press release are cautioned not to place undue reliance on any forward-looking statements. The information in this release is provided only as of the date of this release, and the Company does not undertake any obligation to update any forward-looking statement relating to matters discussed in this press release, except as may be required by applicable securities laws. View source version on Contacts bioAffinity Technologies Julie Anne OvertonDirector of Communicationsjao@ Investor Relations Dave GentryRedChip Companies Inc.1-800-RED-CHIP (733-2447) or 407-491-4498BIAF@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17 minutes ago
- Yahoo
UN chief urges tech sector to power data centers with renewables
By Valerie Volcovici WASHINGTON (Reuters) -U.N. Secretary General António Guterres on Tuesday called on tech companies to power the build out of data centers with 100% renewable energy by 2030, even as the industry turns to gas and coal-fired power plants to meet surging demand. The secretary general made his case for why he believes energy-hungry data centers should lock in a future of clean energy, saying the transition to renewable energy is inevitable, even as some countries and companies still embrace fossil fuels. "The future is being built in the cloud," Guterres said in a speech at the United Nations' headquarters in New York. "It must be powered by the sun, the wind, and the promise of a better world." His appeal to technology companies comes a day before U.S. President Donald Trump unveils his administration's AI Action Plan, which is expected to contain a number of executive actions aimed at easing restrictions on land use and energy production to unleash artificial intelligence development. Trump has declared a national energy emergency to address the vast amounts of energy needed by data centers to power AI to compete with China and enable him to ease environmental restrictions to build more power plants fueled by gas, coal and nuclear. Top economic rivals, the U.S. and China, are locked in a technological arms race over who can dominate AI. At the same time, Trump has issued executive orders and signed the One Big Beautiful Bill Act that curtails the use of incentives for wind and solar energy, which dominate the queue of new power generation waiting to connect to the electric grid. Guterres also appealed to governments to ready new national climate plans to deliver the goals of the Paris climate agreement by September that will lock-in a transition away from fossil fuels. He said this moment is an opportunity for governments to meet all new electricity demand with renewables and use water sustainably in cooling systems.
Yahoo
17 minutes ago
- Yahoo
Tony Robbins' Top 3 Tips That Will Save Retirees From Financial Disaster
One of the most popular and well-known money gurus out there today is Tony Robbins. For decades, Robbins has been releasing books, conducting seminars and giving financial wisdom to those who are seeking answers for how to get their money on track. Read Next: Find Out: One group that might need an extra bit of help are retirees. Luckily, Robbins has a bounty of methods for making sure they do not run their finances into the ground. Here are Tony Robbins' top three tips that will save retirees from disaster. Plan For Your Retirement Now For some of us, retirement might be just around the corner. For others, it can feel like lightyears away. Don't miss out on that time, whatever it might be, to allow for your retirement savings to grow, which means starting as soon as you can. To figure out the number you'll need to retire comfortably, Robbins recommends that you take it in several steps: calculate how much money it takes to maintain your current lifestyle, multiply that total amount by 20. It's important to be conservative with your numbers instead of overly optimistic. Once that figure has been estimated, it's time to start figuring out a retirement plan. 'The number you come up with may be massive — but don't be afraid to dream big,' advised Robbins. 'With the right mindset and relentless focus, you can go beyond 'How much do I need for retirement?' and start asking 'How much do I want for retirement?'' Consider This: Build a Money Machine How much someone saves for retirement will vary, as well as how they do it. But Robbins urges everyone to start building what he calls the 'money machine.' This happens by 'harnessing the power of compounding to create an income stream for the rest of your lifetime. In other words, you must automate your savings in a tax efficient manner and utilize an investment strategy that will keep earning in any season,' according to Robbins. Robbins highlights that one way to build the money machine is through compounding interest, which only can be truly utilized to its fullest with time. You can cultivate money in savings so that interest from these investments eventually generates enough income without needing to work a job. 'When you enter the second act of your life, you will have the freedom to work only if you want to,' Robbins said. Coordinate Your Planning for Retirement and Taxes 'With traditional plans, you don't pay taxes on your contributions at the time they are made,' Robbins explained. 'Taxes are deferred until you begin withdrawing from your plan — and then you are taxed at the current tax rate for your income bracket.' The plans that Robbins recommends retirees or those who are starting to think about retirement include traditional ones such as a 401(k), an IRA, and a Roth IRA. Knowing how much of your retirement plan will be going to taxes each year will help you plan accordingly versus getting a surprise tax bill. 'Don't be blindsided by the hit taxes can take against your nest egg,' warned Robbins. 'Protect your nest egg and protect your road to retirement. Ultimately, you're protecting your financial future — and nothing is more important than that.' More From GOBankingRates 3 Luxury SUVs That Will Have Massive Price Drops in Summer 2025 6 Popular SUVs That Aren't Worth the Cost -- and 6 Affordable Alternatives 3 Reasons Retired Boomers Shouldn't Give Their Kids a Living Inheritance (And 2 Reasons They Should) This article originally appeared on Tony Robbins' Top 3 Tips That Will Save Retirees From Financial Disaster
