New York, June 7, 2026, 13:08 (EDT)
- Rigetti Computing ended Friday at $20.68, falling 14.4% during the session and around 19% off last Friday’s finish, market data showed.
- Nasdaq Composite dropped 4.18% as chip stocks slid after a strong U.S. jobs report renewed concerns about rates.
- No new Rigetti event is listed on the company’s calendar for the week ahead. Investors are watching for macro headwinds, recent insider and ownership filings, and waiting on a U.S. government funding letter that hasn’t landed yet.
Rigetti Computing stock is set to reopen Monday under pressure after losing almost 20% last week. The quantum-computing name ended Friday at $20.68, dropping 14.4% just in that session, from $25.54 the week before. Investors moved out of pricey tech as the week wrapped up.
The timing is key here. With no weekend trading to change things up, Friday saw investors get more cautious on long-duration tech stocks. These are the companies with profits way out in the future, which take a bigger hit when rate expectations move up.
Wall Street took a sharp hit. The Nasdaq Composite dropped 4.18% on Friday. The Philadelphia semiconductor index posted its biggest one-day fall since March 2020, as May payrolls rose by 172,000. That stoked worry the Federal Reserve might keep policy tight for longer. “The dam just broke today,” Ryan Detrick, chief market strategist at Carson Group, told Reuters. Reuters
Rigetti wasn’t the only big mover. Shares of IonQ slipped 13.5%, D-Wave Quantum gave up 13.7%, and Quantum Computing Inc. finished down 11.0%. RGTI’s loss tracked with a wider pullback across quantum and speculative tech, not just company specifics.
Rigetti has been trading on news of its own. In May, the stock got a boost from a letter of intent with the U.S. Department of Commerce for a possible $100 million award over three years to speed up its superconducting quantum computing R&D. The company said the government would get an equity stake equal to the funding.
Chief Executive Subodh Kulkarni said in the announcement the investment will help Rigetti “tackle key scaling bottlenecks” and get closer to utility-scale quantum computing. That means systems strong enough for tasks beyond research demos, but Rigetti is not claiming it has reached that point. Rigetti & Co, LLC
Rigetti posted first-quarter revenue of $4.4 million and an operating loss of $26.0 million. Cash, cash equivalents and available-for-sale investments totaled $569.0 million as of March 31. CEO Kulkarni said the company is still focused on “disciplined execution” as it works on system fidelity and scale. Investing News Network (INN)
Quantum computers are often pitched on the number of qubits they can run. Rigetti said its Cepheus-1-108Q processor, with 108 qubits, is now generally available on Rigetti QCS, Amazon Braket, Microsoft Azure Quantum and qBraid. The processor is built from twelve 9-qubit chiplets, smaller blocks patched together in a larger unit.
But risks still loom. The Commerce Department letter is not binding. Rigetti has flagged uncertainties around final deal terms, the timing of cash, dilution for shareholders, technical progress, shipping to customers, and whether government money comes through.
Monday’s trading will get the first move from the market, not company news. Rigetti’s investor page lists its most recent events as May sessions plus the Q1 call. The filings page just shows Forms 4 and 144 dated June 1-3, related to insider or beneficial owner trades.
Next week looks less like a catalyst event for Rigetti and more like a test of whether buyers step back into high-growth tech after the rate move on Friday. Yields pushing up again, or more weakness in IonQ and D-Wave, could keep RGTI under pressure. If the Nasdaq steadies, investors could look at Rigetti’s government money story and hardware roadmap again.
