Rigetti faces questions over valuation as quantum stocks hit CHIPS test
Rigetti shares hovered near $20 as investors weighed a $100 million government funding letter of intent and a new 108-qubit processor against a $6.85 billion valuation, with analysts warning the stock could drop 50% or more if revenue—just $4.4 million last quarter—fails to catch up, and noting the funding is not yet finalized.