NEW YORK, December 29, 2025, 11:49 ET — Regular session
- Rigetti shares fell about 3% in morning trade as quantum-computing stocks stayed volatile into year-end.
- Recent swings in the group have been driven by profit-taking, thin holiday volumes and valuation concerns, Investors Business Daily reported.
- Traders are watching for updates tied to Rigetti’s late-2025 technology milestone and the next earnings timeline.
Rigetti Computing’s shares fell about 3% on Monday, extending a late-December pullback in quantum-computing stocks as traders booked gains and waited for fresh catalysts.
The moves matter now because the quantum group has become a momentum trade into year-end, where lighter holiday liquidity can magnify swings in high-volatility names. Investors Business Daily said the sector’s recent slide followed a brief pop earlier this month that arrived “without major news,” and was later met by profit-taking and valuation jitters. Investors.com
Rigetti has drawn attention alongside peers such as IonQ and D-Wave, but much of the day-to-day trading has been driven by shifting sentiment toward the whole theme rather than a single company headline. Investors have been reassessing how quickly early-stage quantum companies can turn research progress into repeatable revenue.
Rigetti (RGTI.O) was down $0.66 at $21.72, after trading between $22.55 and $21.54. About 14.6 million shares had changed hands by late morning.
IonQ (IONQ.N) was down about 1.4% and Quantum Computing Inc (QUBT.O) was down about 2.6%, while D-Wave Quantum (QBTS.N) was up roughly 0.5%.
Quantum computers use “qubits” — the quantum version of a bit — which can in theory tackle certain problems faster than classical machines. For now, most pure-play quantum firms generate uneven revenue and rely heavily on R&D spending, which can leave their stocks sensitive to shifts in risk appetite. Investors.com
Rigetti’s most recent detailed update came with its third-quarter results filing in November, when it reported $1.9 million in revenue and an operating loss of $20.5 million for the quarter. The company said cash, cash equivalents and available-for-sale investments totaled $558.9 million as of Sept. 30, and about $600 million as of Nov. 6, helped by warrant exercises.
Investors have also been focused on whether Rigetti can deliver on near-term performance targets. “We remain on track to deliver our 100+ qubit chiplet-based quantum system … by the end of 2025,” Chief Executive Subodh Kulkarni said in the earnings release. SEC
Two-qubit gate fidelity — a common benchmark in quantum computing — measures how accurately the machine performs operations involving two qubits, with higher percentages indicating fewer errors. Rigetti has said it expects 99.5% median two-qubit gate fidelity for its 100+ qubit system.
In the same release, the company laid out targets for a 150+ qubit system by around the end of 2026 with 99.7% median two-qubit gate fidelity, and a 1,000+ qubit system by around the end of 2027 with 99.8% median two-qubit gate fidelity.
On the commercial side, Rigetti has pointed to purchase orders totaling about $5.7 million for two 9-qubit Novera systems, with delivery expected in the first half of 2026. The company has also highlighted government-backed work, including a $5.8 million Air Force Research Laboratory contract with QphoX, as it looks to build out networking capabilities for superconducting quantum systems.
Traders are watching whether the stock stabilizes after hitting $21.54 at its session low, and whether the group gets any new catalyst beyond year-end repositioning. The next major scheduled check-in is earnings: Zacks expects Rigetti’s next report around March 4, 2026, though the company has not announced a date.
