Rigetti Computing (RGTI) Stock on December 2, 2025: Price, Quantum Roadmap, Analyst Targets and Key Risks

Updated: December 2, 2025

Rigetti Computing, Inc. (NASDAQ: RGTI) remains one of the most volatile stories in quantum technology and on the Nasdaq. After a spectacular rally in 2025 and a sharp November pullback, fresh commentary on December 2 focuses on whether the latest “quantum dive” is a buying opportunity or a warning shot for investors.

Below is a detailed look at Rigetti’s share price today, the latest news and opinions dated December 2, 2025, its 2025–2027 technology roadmap, and how Wall Street and AI-driven models currently value the stock.

Rigetti Computing (RGTI) stock price today

As of late trading on December 2, 2025, Rigetti Computing stock is changing hands at about $23.98 per share, up roughly 2% on the day, with an intraday range between about $23.49 and $24.94 and heavy volume of more than 20 million shares.

That headline price sits on top of extreme volatility:

Over the last 12 months, Rigetti has delivered roughly 950–1,000% gains, moving from penny‑stock levels around $2–3 into the mid‑$20s and, at the peak, above $50. TS2 Tech
The 52‑week range runs from about $2.4 to $58.15, making RGTI one of the wildest technology names on the market. ^[1]
AI analytics platform Danelfin estimates that the stock is up about 51% in the last three months, underscoring that even after the November correction, long‑term holders remain deep in the green. ^[2]

Depending on the data provider and the exact price snapshot, Rigetti’s market capitalization currently sits between roughly $7.7 billion and $8.4 billion, a huge valuation for a company that generated only about $10.8 million in revenue in 2024 and less than $2 million last quarter. ^[3]

November’s “quantum bleed‑out” and the December 1 sell‑off

The backdrop for today’s debate is a violent reversal across quantum stocks in November:

A Benzinga recap of the sector notes that Rigetti shares fell about 40% from their early‑November levels, while D‑Wave, IonQ and Quantum Computing Inc. also suffered double‑digit declines as investors rotated out of speculative growth names. ^[4]

The pressure continued into Monday, December 1:

MarketBeat reports that RGTI fell 8.3% on Monday, sliding from a prior close of $25.57 to around $23.45, on heavy volume of roughly 29.3 million shares. The stock is now trading below its 50‑day moving average (~$35.54) but still above the 200‑day average (~$21.90). ^[5]
Technical analysis site StockInvest describes the same session as a –8.22% drop to $23.47, flagging that the name has fallen in 6 of the last 10 trading days and remains a “very high risk” stock with daily volatility above 7%. ^[6]

Despite that near‑term pain, StockInvest’s model still expects Rigetti’s price to rise about 17.9% over the next three months, with a 90% probability range between $27.67 and $71.96, while simultaneously keeping a “sell candidate” label because trend and moving‑average signals are negative. ^[7]

That paradox—ugly charts, big upside envelopes—is exactly what is drawing in traders and confusing longer‑term investors.

December 2, 2025: New opinions on Rigetti’s “quantum dive”

Two fresh pieces of coverage on December 2, 2025 frame today’s debate: one from Zacks (syndicated via Nasdaq) and another from AInvest.

Zacks / Nasdaq: Rigetti vs. D‑Wave, and what the estimates say

A new Zacks Analyst Blog published on Nasdaq compares Rigetti (RGTI) to D‑Wave Quantum (QBTS) and highlights several key points for Rigetti investors: ^[8]

Business mix: Rigetti’s revenue remains heavily tilted toward government contracts, research institutions and early pilots, which makes revenues lumpy and dependent on grant timing.
Q3 snapshot: Recent quarterly numbers show around $1.9 million in revenue, down from $2.4 million a year ago, and roughly $21 million in operating expenses, leading to a large operating loss.
Cash runway: Zacks highlights Rigetti’s “multi‑year cash runway”, thanks to a large cash balance, as a key stabilizing factor while it invests in its chiplet‑based quantum roadmap.
Estimates turning south:
- The Zacks Consensus Estimate now implies 2025 sales falling 23.8% year over year.
- Expected 2025 EPS loss has widened from about $0.09 to $0.68 per share over the last 30 days, suggesting analyst sentiment on near‑term profitability has deteriorated.
Style scores: RGTI holds a Value Score of F, Growth Score of C, Momentum Score of B and an overall Zacks Rank #3 (Hold).

In plain English: Zacks sees decent momentum and a solid technology story, but weakening fundamental estimates and a stretched valuation, leaving the stock in “hold” territory for now.

AInvest: Buying opportunity or valuation trap?

At 11:34 a.m. ET on December 2, AInvest published an AI‑assisted article titled “Rigetti Computing: Is the Quantum Dive a Buying Opportunity or a Valuation Trap?” that digs into the same tension. ^[9]

Key takeaways from that analysis:

Q3 2025 results:
- Revenue: $1.9 million, up 5.6% quarter‑over‑quarter but down 20.6% year‑over‑year. ^[10]
- GAAP net loss: $201 million, driven largely by a $182 million non‑cash loss from derivative warrant liabilities. ^[11]
- Operating expenses: about $21 million, implying a roughly $20.5 million quarterly operating burn. ^[12]
Cash and runway: Rigetti holds around $600 million in cash, cash equivalents and investments after warrant exercises, giving it a multi‑year runway despite heavy losses. ^[13]
Valuation context: AInvest notes that RGTI’s ~$7.8 billion market cap stands in stark contrast to mega‑caps like Microsoft, underscoring that investors are paying for future quantum potential, not current revenues. ^[14]
Sector backdrop: The broader quantum computing market is projected to grow at roughly 34.6% CAGR from 2025 to 2030, which could justify high valuations if leaders execute. ^[15]

AInvest’s conclusion is deliberately balanced: Rigetti isn’t clearly a screaming buy or an obvious trap; instead, it’s a “calculated bet on the future” where investors must weigh bleeding‑edge tech and strong R&D against minimal revenue and intense competition.

Q3 2025 earnings: tiny revenue, huge accounting loss, big cash pile

Third‑quarter results, released in November, are still driving most of the current commentary.

Independent coverage from Quantum Computing Report and The Quantum Insider outlines the numbers and context: ^[16]

Revenue:
- $1.9 million in Q3 2025
- +5.6% vs Q2 2025
- –20.6% vs Q3 2024
Operating expenses: About $21.0 million, up 12.9% year‑over‑year, reflecting continued heavy R&D investment.
Operating loss: Around –$20.5 million.
GAAP net loss:–$201.0 million, largely due to the non‑cash $182 million warrant revaluation.
Non‑GAAP net loss: Roughly –$10.7 million, a better proxy for underlying operations.
Cash:
- $558.9 million in cash and investments at quarter‑end.
- Increased to around $600 million by November 6, 2025, after additional warrant exercises.

24/7 Wall St.’s live earnings coverage characterises Rigetti as a classic “deep‑tech duration story”: lots of liquidity and R&D capacity, but limited near‑term revenue catalysts and significant execution risk. ^[17]

Technology roadmap: 100+ qubits in 2025, 1,000+ qubits by 2027

If the financials are sobering, Rigetti’s technology roadmap is the main reason the stock commands such a premium.

According to the company’s Q3 materials and independent summaries, Rigetti’s updated roadmap looks like this: ^[18]

2025 target (on track):
- Delivery of a 100+ qubit chiplet‑based quantum system
- ~99.5% median two‑qubit gate fidelity
2026 target:
- 150+ qubit system
- ~99.7% median two‑qubit fidelity
2027 target:
- 1,000+ qubit system
- ~99.8% median two‑qubit fidelity

Earlier in 2025, Rigetti also demonstrated a 36‑qubit multi‑chip system with roughly 2× reduction in two‑qubit gate errors versus previous generations, showing that the chiplet architecture is progressing beyond theory. TS2 Tech+2Quantum Computing Report+2

Zacks and other analysts view this roadmap as the core of the bull case: if Rigetti can reliably ship higher‑fidelity, higher‑qubit systems on schedule, it could secure a durable spot among the leaders in universal, gate‑based quantum computing.

Commercial traction: government contracts, Novera sales and global expansion

Rigetti’s revenue base is still small, but the company has notched a series of meaningful contracts and partnerships that underpin the current valuation.

Recent highlights from Quantum Computing Report and The Quantum Insider include: ^[19]

System sales:
- Two 9‑qubit Novera™ systems sold via purchase orders totaling about $5.7 million, one to an Asian technology manufacturer and another to a California AI/physics startup. Deliveries are expected in the first half of 2026.
Defense and networking:
- A $5.8 million, three‑year contract from the U.S. Air Force Research Laboratory (AFRL), in collaboration with Dutch startup QphoX, focused on superconducting quantum networking and microwave‑to‑optical transduction—key for linking quantum computers over fiber.
Hybrid quantum–AI integration:
- Support for NVIDIA’s NVQLink platform, aimed at integrating AI supercomputing with quantum processors for hybrid workloads.
International and academic partnerships:
- A memorandum of understanding with India’s Centre for Development of Advanced Computing (C‑DAC) to co‑develop hybrid quantum‑classical systems and tools.
- A collaboration with Montana State University, which now hosts an on‑premises 9‑qubit Novera processor—the first academic institution with its own Rigetti QPU.
- Plans to open an Italian subsidiary to tap into Europe’s growing quantum market.

The recurring theme: Rigetti is deeply embedded in government, research and early enterprise testbeds, which provide validation and non‑dilutive funding but have not yet translated into scaled, recurring commercial revenue.

Analyst ratings, price targets and AI forecasts

Wall Street consensus: “Moderate Buy” with wide dispersion

MarketBeat’s forecast page shows that, as of early December: ^[20]

7 Wall Street analysts have current ratings on Rigetti:
- 5 Buy, 1 Hold, 1 Sell
The consensus rating is “Moderate Buy.”
The average 12‑month price target is $25.43, implying about 6% upside from a price around $23.9–24.0.
Targets range from $12 on the low end to $40 on the high end, underlining just how uncertain the outcome is.

QuiverQuant’s compilation of recent analyst moves reinforces that dispersion: ^[21]

Median target among four recent analysts: $30.
Notable calls include:
- $50 target from Benchmark (Oct 2025).
- $42 target from B. Riley (Nov 2025).
- $18 target from Needham (Aug 2025).
- $15 target from Cantor Fitzgerald (Jul 2025).

StockAnalysis, which aggregates a slightly different analyst set, shows a “Strong Buy” average rating with a $24.00 target, essentially flat to today’s price, suggesting that some forecasters see the stock as fairly valued after the recent drop. ^[22]

AI‑driven view: Danelfin’s 8/10 score

Danelfin, an AI‑based stock‑scoring platform, currently gives Rigetti an AI Score of 8/10 (“Buy”), estimating: ^[23]

62.6% probability that RGTI will beat the market over the next three months, about 7.7 percentage points above the average U.S. stock.
An average analyst target price of $40.5, implying roughly 70%+ upside from current levels.
A 12‑month trading range over the last year of $2.42–$58.15, mirroring the wild swings seen in 2025.

Technical models: high risk, conflicting signals

StockInvest’s purely technical model currently: ^[24]

Labels RGTI a “sell candidate” despite acknowledging a positive long‑term trend.
Notes that the stock holds sell signals from both short‑ and long‑term moving averages.
Identifies support around $22.80 and resistance near $24.74, viewing the intraday risk/reward as attractive for active traders.
Projects “very high risk” given ~7%+ daily volatility.

In short: fundamental and AI‑driven models lean bullish, while short‑term technical indicators are more cautious.

Ownership, insider selling and ETF interest

Sentiment around Rigetti is also shaped by who is buying and who is selling.

Heavy insider selling…

QuiverQuant’s dashboard highlights substantial insider selling over the last six months, with zero reported insider purchases: ^[25]

26 insider sale transactions, 0 buys.
Notable examples:
- CEO Subodh Kulkarni sold 1,000,000 shares, estimated at about $12 million.
- Several other executives and directors, including the CFO and CTO, have also sold hundreds of thousands of shares.

For many investors, that pattern raises questions about management’s confidence in the stock at elevated levels, even if some selling is expected after a multi‑thousand‑percent rally.

…but strong institutional accumulation

At the same time, QuiverQuant notes that 261 institutional investors have added Rigetti shares, while 129 have reduced positions in their most recent filings. ^[26]

Big “adds” include:

Vanguard Group: +9.2 million shares (+40.4% in Q3 2025).
BlackRock: +6.0 million shares (+39.4% in Q2 2025).

Meanwhile, TechStock²’s recent coverage points to rising ETF interest and quantum‑themed funds incorporating RGTI, adding another channel for inflows—but also another source of volatility if those funds rebalance. TS2 Tech+1

Options, short interest and trading dynamics

Beyond shares, Rigetti is also a battleground in the derivatives market.

TechStock²’s December 1 recap of RGTI trading highlights: TS2 Tech

Unusual options activity with 10 “extraordinary” trades flagged in a single day, split between calls and puts, and concentrated in the $20–$30 strike range.
About 58,000 contracts traded, with a put/call ratio of 0.41, showing call volume dominating but with notable hedging.
Implied volatility (IV30) near 96.6, implying an expected daily move of about $1.56.
Short interest around 15.9% of free float, meaning a meaningful cohort is betting against the stock.

Put together, the tape shows a name dominated by speculative flows, active hedging and high leverage, rather than a quiet growth stock slowly compounding higher.

Key risks to the Rigetti bull case

Current analysis across Zacks, AInvest, The Quantum Insider, Benzinga and others generally converges on several major risks: ^[27]

Limited revenue vs. very high valuation
- Revenues remain in the low single‑digit millions per quarter, while the market values Rigetti in the multi‑billion‑dollar range. Any delays in commercialization or roadmap execution can trigger sharp multiple compression.
Ongoing losses and potential dilution
- Even excluding accounting noise, Rigetti is burning ~$20 million per quarter in operating losses, which will eventually require either significantly higher revenue or future capital raises.
Execution risk on an aggressive roadmap
- Hitting 100+ qubits in 2025 and 1,000+ qubits by 2027 with high fidelity is a tall order. Missing technical milestones could damage credibility and the investment case.
Competition from tech giants and other quantum players
- Companies like IBM, Microsoft, Alphabet and NVIDIA are investing heavily in quantum, often with far more resources and existing cloud/AI customer bases.
Macro and sentiment risk
- As November’s “quantum bleed‑out” showed, risk‑off rotations can hit speculative names like Rigetti extremely hard, regardless of company‑specific news.

What to watch next

Looking ahead from December 2, 2025, investors focused on Rigetti Computing stock are watching several catalysts: ^[28]

Delivery of the 100+ qubit system
- Confirmation that Rigetti meets its 2025 hardware milestone—in terms of both qubit count and gate fidelity—could be a major sentiment driver.
Follow‑on contracts and system deployments
- Additional Novera system sales, expanded AFRL work, or new large‑scale partnerships would help justify the current valuation.
Updates on cash usage and burn
- With ~$600 million in liquidity, investors will track whether the quarterly operating loss narrows—or if Rigetti leans even harder into R&D spending.
Next earnings report
- StockInvest and other trackers currently list March 4, 2026 as the next earnings date, which will likely be another key inflection point for the stock. ^[29]
Sector sentiment
- Whether November’s “quantum correction” proves to be a healthy reset or the start of a longer de‑rating cycle across quantum names.

Bottom line: A high‑beta quantum moonshot

As of December 2, 2025, Rigetti Computing stock sits at the crossroads of:

Cutting‑edge quantum hardware with an ambitious roadmap to 1,000+ qubits by 2027,
Deep, cash‑burning R&D supported by a large cash pile and government contracts,
Extreme volatility, with 10x‑plus 12‑month gains followed by a 40% November drawdown, and
Mixed but generally optimistic forecasts from Wall Street and AI‑driven models.

For short‑term traders, RGTI is likely to remain a high‑beta playground driven by options flows, momentum, and macro risk appetite.

For long‑term investors, the key questions are whether Rigetti can:

Hit its road‑map milestones on time,
Convert technology leadership into recurring commercial revenue, and
Do so before its cash runway shortens enough to trigger more aggressive dilution.

Until those questions are answered, Rigetti Computing (RGTI) will remain a speculative quantum bet—potentially rewarding, but undeniably risky.

Disclosure: This article is for informational and educational purposes only and does not constitute financial, investment or trading advice. Always do your own research and consider consulting a licensed financial advisor before making investment decisions.