Superconducting quantum (full-stack)
Rigetti Computing
A superconducting-qubit quantum firm. 2025 revenue $7.1M (-34%), with a $216M annual loss, pre-profit. Government and research orders are its core (AFRL $5.8M, $100M CHIPS support, India CDAC 108-qubit $8.4M), and it sells access via AWS Braket and NVIDIA hybrid. It touts a 1,000+ qubit roadmap, but milestones and capital raises move the stock more than fundamentals.
Business categories Quantum Computing · Cloud & Enterprise Software · primary
RGTI Updated Jul 12, 2026 5 AI consumers· 5 recurring
Per the valuechain.wiki graph, Rigetti Computing is directly linked to 3 companies (1 supply, 1 revenue, 1 investment relationships) and reaches 44 companies within two hops; the links are backed by 8 dated sources, 2 of them primary filings (as of 2026-07-12).
Financials & Segments
- Total revenue · 2025 revenue $7.1M (-34%)
- Customer concentration · AFRL, CHIPS, CDAC; $216M loss.
- Segments · QPU/system sales · Cloud access · Government/research
Revenue from
- Government · research (AFRL · CHIPS · CDAC) High confidence
QPUs and systems to government and research (AFRL, $100M CHIPS, India 108-qubit).Confirms EN Quantum Computing Report Published Nov 11, 2025: Rigetti 1000+ qubit roadmap and government ordersConfirms KO Korea Economic Daily Published Oct 14, 2025: From quantum chips to the cloud: Rigetti Computing takes flight - Amazon Medium confidence
Sells superconducting-QPU access via AWS Braket.Confirms EN Quantum Computing Report Published Nov 11, 2025: Rigetti 1000+ qubit roadmap and government orders
Pays to
- Cryogenics · control · materials (undisclosed) Low confidence
Dilution refrigerators, control electronics and materials. - NVIDIA Low confidence
Combines quantum and classical via NVIDIA hybrid.Confirms EN The Quantum Insider Published Mar 5, 2026: Rigetti annual loss while expanding deployments
Investors
- Quanta Computer High confidence
Quanta Computer (Taiwan ODM, TWSE:2382) made a $35M strategic equity investment (closed 2025-04-30) plus superconducting-QPU co-development (>$100M each over 5 yrs).Confirms KO Global Economic Published May 1, 2025: Rigetti Computing gains momentum with investment from Quanta ComputerConfirms EN GlobeNewswire Published Apr 30, 2025: Rigetti Computing Closes Investment by Quanta ComputerConfirms EN SEC EDGAR (Rigetti 8-K) Published Feb 27, 2025: Rigetti–Quanta Computer Strategic Collaboration ($35M investment)
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| CrowdStrike | lead2 | -3.3 | -48.6 | +142.5 | +34 | +37 | +134.7 |
| Palo Alto Networks | lead2 | +56.7 | -24.8 | +111.3 | +23.4 | +1.2 | +127.4 |
| Datadog | lead2 | +80.9 | -58.7 | +65.1 | +17.7 | -4.8 | +115.6 |
| Snowflake | lead2 | +20.4 | -57.6 | +38.6 | -22.4 | +42.1 | +68.2 |
| Illumina | lead2 | +2.8 | -46.9 | -31.1 | -1.3 | -1.8 | +66.4 |
| Schrodinger | lead2 | -56 | -46.3 | +91.5 | -46.1 | -7.3 | +52.6 |
| Schlumberger | lead2 | +39.6 | +81.2 | -0.8 | -24.5 | +3.3 | +52.3 |
| Airbnb Inc | lead2 | · | -48.6 | +59.2 | -3.5 | +3.3 | +34.1 |
| Labcorp Holdings Inc. | lead2 | +54.4 | -24.4 | +13.8 | +2.2 | +10.6 | +25.3 |
| Becton, Dickinson and Company | lead2 | +1.9 | +5.1 | -2.7 | -5.4 | -12.6 | +22.8 |
| Live Nation Entertainment, Inc. | lead2 | +62.9 | -41.7 | +34.2 | +38.4 | +10 | +21.8 |
| Carrier Global Corporation | lead2 | +45.3 | -22.7 | +41.5 | +20.3 | -21.8 | +14.3 |
| Waters Corporation | lead2 | +50.6 | -8.1 | -3.9 | +12.7 | +2.4 | +14.2 |
| Rockwell Automation, Inc. | lead2 | +41.2 | -24.8 | +22.6 | -6.2 | +38.4 | +12.3 |
| Agilent Technologies, Inc. | lead2 | +35.5 | -5.5 | -6.4 | -2.7 | +1.9 | +11.5 |
| Automatic Data Processing, Inc. | lead2 | +42.6 | -1.3 | -0.2 | +28.4 | -10.2 | +9.6 |
| Hilton Worldwide Holdings Inc. | lead2 | +40.2 | -18.7 | +44.7 | +36.1 | +16.5 | +8.5 |
| 3M Company | lead2 | +4.9 | -29.6 | -3.3 | +46.1 | +26.4 | +6.8 |
| Expedia Group, Inc. | lead2 | +36.5 | -51.5 | +73.3 | +22.8 | +53.3 | +5.8 |
| Hubbell Incorporated | lead2 | +35.6 | +15.1 | +42.4 | +28.9 | +7.4 | +4.7 |
| MercadoLibre, Inc. | lead2 | -19.5 | -37.2 | +85.7 | +8.2 | +18.5 | -1.8 |
| DoorDash, Inc. | lead2 | · | -67.2 | +102.6 | +69.6 | +35 | -6.5 |
| The Walt Disney Company | lead2 | -14.5 | -43.9 | +4.3 | +24.4 | +3.3 | -6.7 |
| Uber | lead2 | -17.8 | -41 | +149 | -2 | +35.5 | -7.3 |
| Roper Technologies | lead2 | +14.7 | -11.6 | +26.9 | -4.1 | -13.8 | -7.9 |
| Workday, Inc. | lead2 | +14 | -38.7 | +65 | -6.5 | -16.8 | -8.8 |
| Axon Enterprise, Inc. | lead2 | +28.1 | +5.7 | +55.7 | +130.1 | -4.4 | -9.2 |
| Constellation Brands, Inc. | lead2 | +16.1 | -6.4 | +5.8 | -7.1 | -36 | -9.2 |
| Salesforce, Inc. | lead2 | +14.2 | -47.8 | +98.5 | +27.8 | -20.2 | -12.9 |
| GE HealthCare Technologies Inc. | lead2 | · | · | · | +1.3 | +5.1 | -15.9 |
| Netflix | lead2 | +11.4 | -51.1 | +65.1 | +83.1 | +5.2 | -16.5 |
| Stryker Corporation | lead2 | +10.2 | -7.4 | +23.8 | +21.3 | -1.5 | -20.4 |
| IDEXX Laboratories, Inc. | lead2 | +31.7 | -38 | +36.1 | -25.5 | +63.6 | -20.9 |
| Comcast Corporation | lead2 | -2.2 | -28.7 | +29.1 | -11.8 | -17.3 | -22.3 |
| Adobe Inc. | lead2 | +13.4 | -40.7 | +77.3 | -25.5 | -21.3 | -23.9 |
| Autodesk, Inc. | lead2 | -7.9 | -33.5 | +30.3 | +21.4 | +0.1 | -26.4 |
| Coupang | lead2 | · | -49.9 | +10.1 | +35.8 | +7.3 | -35.2 |
| Fair Isaac Corporation | lead2 | -15.1 | +38 | +94.5 | +71 | -15.1 | -44.9 |
| Intuit Inc. | lead2 | +70.3 | -39.1 | +61.8 | +1.2 | +6.1 | -53.7 |
| Corteva, Inc. | lead2 | +23.6 | +25.6 | -17.5 | +20.2 | +18.9 | -80.1 |
| Amazon | lead1 | +2.4 | -49.6 | +80.9 | +44.4 | +5.2 | +12 |
| Rigetti Computing | node | · | -92.9 | +35.1 | +1449.2 | +45.2 | -31.4 |
| Quanta Computer | benef1 | +22.2 | -12.8 | +254.5 | +12.7 | +8.9 | +21.2 |
| NVIDIA | benef2 | +125.5 | -50.3 | +239 | +171.2 | +38.9 | +23.2 |
YTD as of 2026-09-04 · source: Yahoo Finance
Rigetti Computing operates across Superconducting quantum (full-stack). After +45.2% in 2025, it gave back -31.4% in 2026. The supply side (avg +23.7%) has moved harder than the stock (-31.4%). That is the classic bottleneck pattern: supplier volume leverage is being priced before this layer's own margin. Among connected nodes the furthest ahead is NVIDIA (+23.7%) and the furthest behind is Amazon (+12%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. It touts a 1,000+ qubit roadmap, but milestones and capital raises move the stock more than fundamentals.
Analysis generated from returns as of 2026-09-04Analyst ratings
Consensus: Buy 2 · Hold 1 · Sell 0 · Avg. target $32 · Price $15.203 (09-05) · Upside +110%
| Broker | Rating | Target | Published | |
|---|---|---|---|---|
| Rosenblatt Securities · John McPeake | Buy | $40 | Jun 10, 2026 | Report ↗ |
| Northland Securities · Nehal Chokshi | Market Perform | $20 | May 12, 2026 | Report ↗ |
| Alliance Global Partners · Brian Kinstlinger | Buy | $37 | May 12, 2026 | Report ↗ |
Buy calls dominate in May-June 2026 (Rosenblatt $40, AGP $37) while Northland holds at Market Perform with a $20 target, balancing quantum commercialization hopes against valuation caution.
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