Rigetti Computing (RGTI) is deepening its commercial and government reach as it pushes forward on its superconducting quantum computing roadmap toward quantum advantage.
The company recently expanded its partnership with Hewlett Packard Enterprise (HPE) and the Pittsburgh Supercomputing Center by supplying a full 9-qubit Novera system for the NSF-funded TangleLab testbed.
Researchers at TangleLab will use the system to develop hybrid quantum-classical high-performance computing workloads, marking a meaningful step in real-world quantum integration.
Management confirmed that on-premises deployments remain on track, including the 108-qubit C-DAC system currently being deployed in India.
Demand from universities, national laboratories, and commercial organizations seeking direct access to quantum hardware for research and experimentation continues to grow.
Rigetti also highlighted technical progress on its 108-qubit Cepheus platform, which delivers roughly 99.9% median single-qubit gate fidelity and 99.1% two-qubit gate fidelity.
The Cepheus platform is also achieving gate speeds of approximately 60 nanoseconds, a figure the company is actively working to reduce through ongoing chip design and materials innovations.
Rigetti is targeting systems with around 1,000 qubits, 99.9% two-qubit fidelity, and sub-40-nanosecond gate speeds within the next three years as global quantum competition intensifies.
A proposed U.S. Department of Commerce funding package of up to $100 million, along with planned investments in the United Kingdom, is expected to bolster Rigetti’s manufacturing capabilities and chiplet-based development efforts.
Despite its technical momentum, shares of RGTI have fallen 29.3% in the year-to-date period, significantly underperforming the industry’s decline of just 0.9%.
From a valuation standpoint, Rigetti trades at a price-to-book ratio of 9.72, above the industry average, and carries a Value Score of F according to Zacks Investment Research.
The Zacks Consensus Estimate for Rigetti’s 2026 earnings implies a significant 71.9% improvement from the year-ago period, though the company currently holds a Zacks Rank of #5, designated Strong Sell.
On the competitive front, IonQ (IONQ) strengthened its full-stack quantum platform by completing the SkyWater and Nexus acquisitions, expanding its merchant supplier capabilities across the United States and allied markets.
IonQ also advanced its technology roadmap by moving closer to demonstrating a 256-qubit quantum computer while progressing its quantum error-correction research.
Meanwhile, D-Wave Quantum (QBTS) posted $3.1 million in revenues in the second quarter of 2026, essentially flat year over year, with commercial enterprises accounting for roughly 62.4% of revenues, up from 45.1% a year earlier.
D-Wave’s QCaaS subscription revenues jumped 50% year over year to $1.9 million, while professional services revenues grew more than 18% to roughly $900,000, signaling steady momentum in its recurring revenue base.
