NEW YORK, Jan 16, 2026, 19:27 (EST)
- Shares of Rigetti and Quantum Computing climbed following Rosenblatt’s new Buy ratings and price targets that exceed current market levels.
- Deal activity and delivery schedules in the small, volatile quantum sector have also shaped the week’s trading.
- Investors are focused on hitting technical performance targets and keeping an eye on whether proposed deals close as planned.
Shares of Rigetti Computing and Quantum Computing Inc climbed Friday after Rosenblatt Securities initiated coverage with Buy ratings, pegging price targets at $40 and $22, respectively. Rigetti jumped 3.7% to $25.62, while Quantum Computing advanced 4.0% to $12.70 in late trading. IonQ rose 6.8%, and D-Wave Quantum added 0.5%. Rosenblatt analyst John McPeake admitted he was “giving them the benefit of the doubt” on Rigetti’s near-term target. 1
Investors continue to see quantum firms as a momentum play within small-cap tech. Revenues remain thin for many in the sector, so stock moves largely depend on hitting engineering targets and meeting delivery deadlines.
This matters now because “two-qubit gate fidelity” — a key accuracy metric for quantum operations — has emerged as a quick gauge of progress, even though scaling up systems is still a distant goal. Deal-making has surged too, as firms chase manufacturing capacity, skilled workers, and new clients.
On Jan. 9, Rigetti announced it has delayed the general release of its 108-qubit Cepheus™-1-108Q system to around the end of Q1 2026. CEO Subodh Kulkarni said the extra time is needed to test and fine-tune the machine, aiming for a 99.5% median two-qubit gate fidelity. The hold-up stems from challenges with the system’s tunable couplers. 2
For investors, the numbers matter less as a one-off test and more as proof that hardware can run error-free long enough to handle real workloads. In this segment, any slip-ups get punished fast.
Quantum Computing announced Jan. 12 it has been chosen as the stalking horse bidder—setting the minimum price—in the bankruptcy sale of certain Luminar Technologies assets, valued at around $22 million. CEO Yuping Huang said the move “reflects our conviction in the strategic fit of these assets.” The company noted the transaction still requires approval from the U.S. Bankruptcy Court and a court-supervised auction. 3
Last month, the company revealed it had struck a deal to buy Luminar Semiconductor, a unit of Luminar, in an all-cash deal worth $110 million, subject to standard adjustments. On the very same day, Luminar filed voluntary Chapter 11 cases in a Texas bankruptcy court, Quantum Computing noted. The acquisition will need court approval through a Section 363 sale process. 4
On Jan. 7, D-Wave, another U.S.-listed quantum player, announced it would acquire Quantum Circuits for $550 million—$300 million in stock and $250 million in cash. The move brings gate-model hardware into D-Wave’s lineup, complementing its annealing systems, which mainly tackle optimization tasks. CEO Alan Baratz called the deal a step that “cemented its position” in superconducting quantum computing. Meanwhile, Quantum Circuits co-founder Rob Schoelkopf said “fault-tolerant error-corrected quantum computing is within our reach.” 5
IonQ announced on Jan. 14 that national security expert Katie Arrington will step in as chief information officer starting Jan. 19, reporting directly to COO and CFO Inder Singh. At the same time, Leslie Kershaw is taking on a broader role as chief information security officer. CEO Niccolo de Masi described quantum computing as “one of the most consequential technologies shaping the future of national defense,” positioning these hires as a move to strengthen cybersecurity and operational resilience. 6
Risks still lean heavily on execution. Missed milestones, regulatory holdups, or funding gaps could trigger steep pullbacks. Insider selling adds fuel: D-Wave’s Baratz disclosed offloading 35,013 shares on Jan. 14 to cover tax withholding on vested restricted stock units, according to a filing. 7
The real challenge ahead for the group is turning engineering goals into actual deployments and ongoing customer projects, rather than just optimistic reports and flashy deal announcements.
