RGTI

Rigetti Computing's stock has declined 19% in 2026 despite broader quantum computing industry momentum, including Google's Willow chip development. The company reported quarterly revenue of just $1.9M against operating losses of $18.5M, with no clear path to near-term profitability. The article flags risks of equity dilution while noting sufficient cash reserves, and positions diversified semiconductor plays as alternatives pending quantum commercialization.

D-Wave Quantum (QBTS) surged 3.41% to $21.52 on April 16, 2026, with volume hitting ~90 million shares (~3x average), after Nvidia launched its Ising open model family, sparking renewed quantum AI interest. D-Wave's CEO publicly challenged Nvidia's GPU-AI dominance at the Semafor World Economy conference, citing quantum's energy efficiency and revenue growth. Peer quantum computing stocks IonQ and Rigetti Computing also posted gains on sector-wide momentum.

Rigetti Computing's latest Cepheus-1-108Q quantum system achieved 99.9% gate fidelity, but 2025 revenue fell 34% to $7.1 million, leaving the stock trading at a P/S ratio above 600. Wall Street consensus projects 2026 revenue to triple to ~$22.5 million, though one analyst forecasts a 50%+ stock decline over the next 12 months on valuation grounds. The article targets a price of ~$7 or lower for RGTI within one year.