NASDAQ:DWAV News 21 January 2026

January 23, 2026, 9:57 AM EST. Rigetti Computing (NASDAQ: RGTI) shares gained around 5% on January 22 following an $8.4 million order from India's C-DAC for a 108-qubit quantum system, signaling market optimism. B. Riley upgraded the stock to "Buy," with a target price of $35, while Wedbush analysts suggest $40. Key growth drivers include scaling quantum systems to 100+ qubits by mid-2026, expanding order pipelines in India and beyond, and leveraging a $600 million cash reserve to advance research and development. Partnerships, such as a $100 million joint venture with Quanta Computer, further support Rigetti's competitive positioning. However, risks remain: quantum computing progress is complex, and sector hype may falter if peers outperform. Investors eyeing a potential doubling of Rigetti's stock to $50 by late 2027 should weigh these catalysts against market volatility and execution challenges.