University of Kwazulu-Natal

Rigetti Stock Falls Despite Quantum Breakthrough Gurufocus

Bonisiwe Shabane
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rigetti stock falls despite quantum breakthrough gurufocus

Rigetti Computing RGTI shares fell about 3% on early Tuesday after the quantum-computing firm reported third-quarter results and updated its technology roadmap. For the quarter ended Sept. 30, Rigetti posted an adjusted loss of $0.03 per share on revenue of $1.9 million, missing year-ago sales of $2.38 million. Analysts had modelled an adjusted loss of $0.05 on $2.17 million in revenue. The company said it expects to deploy a 150+ qubit system around the end of 2026 and a 1,000+ qubit system by the end of 2027. (A qubit is a basic quantum computing unit; gate fidelity measures how reliably quantum operations run.) Rigetti projects median two-qubit gate fidelity near 99.7% for the 2026 system and about 99.8% for the 2027...

Rigetti also said it secured purchase orders for two systems in September totalling $5.7 million, with deliveries slated for the first half of next year. CEO Dr. Subodh Kulkarni said the company is seeing momentum in demand and in collaborative R&D, including work funded by the U.S. Air Force Research Laboratory. Rigetti will host a conference call at 8:30 a.m. Tuesday to discuss the quarter.

Investors will likely watch execution on the fidelity targets and delivery schedule. Quantum computing exploded onto the investment scene in late 2024, igniting a frenzy that propelled pure-play stocks to astronomical heights. Rigetti Computing (RGTI) emerged as one of the biggest beneficiaries, with shares rocketing over 800% in a single month amid breakthrough announcements and surging optimism. Over the past three years, RGTI has delivered staggering gains of more than 3,200%, and at its peak, the stock was up over 8,200% from historic lows. Early investors have undeniably struck a rich motherlode, turning modest bets into life-changing wealth. Yet for those new to the quantum sector, the ride has been brutal.

On Friday, RGTI tumbled almost 9% to close 61% below its October high of $58, erasing much of the year's explosive gains. This pullback mirrors broader pain across quantum stocks like IonQ (IONQ) and D-Wave (QBTS), which have also plunged sharply after similar booms and busts. With the entire sector reeling, investors need to ask: Is the hype surrounding quantum computing finally over – and is RGTI still a buy? Quantum computing harnesses principles of quantum mechanics, using qubits that can exist in multiple states simultaneously (superposition) and become entangled. Unlike classical bits limited to 0 or 1, this enables quantum systems to explore vast solutions exponentially faster for certain problems. The potential is transformative: faster drug discovery by simulating molecules, optimized financial models, unbreakable encryption breakthroughs, and efficient logistics routing.

Quantum could reshape industries from pharmaceuticals to materials science, unlocking solutions classical computers can't touch in reasonable time. Rigetti Computing shares dropped 2% to $33.08 after releasing third-quarter results. The quantum computing company topped earnings estimates but showed growing operating expenses. The Berkeley-based firm reported an adjusted loss of 3 cents per share on $1.9 million revenue. Wall Street expected a 5-cent loss on $2.2 million sales. Full-year projections call for a 29-cent per share loss on $8.1 million revenue.

That compares to 2024’s 36-cent loss on $10.8 million sales. $RGTI (Rigetti Computing) #earnings are out: pic.twitter.com/qms45UXbgZ — The Earnings Correspondent (@earnings_guy) November 10, 2025 Rigetti Computing’s (NASDAQ: RGTI) stock has taken Wall Street by storm, skyrocketing after the company announced a significant breakthrough in quantum computing technology. Investors, analysts, and tech enthusiasts are watching closely as Rigetti’s latest milestone signals a potential new era for commercial quantum computing—and for the company’s prospects in a sector that’s been long on promise but,... Rigetti’s meteoric rise began after it revealed that its latest quantum processor, codenamed "Aspen-M," achieved reliable error rates and algorithm performance surpassing the much-discussed quantum advantage threshold.

Quantum advantage refers to the moment when a quantum computer can solve problems faster or more efficiently than the most powerful classical supercomputers. For years, companies and researchers have been racing toward this line, with incremental progress and heavy skepticism from industry observers. The milestone achieved by Rigetti’s Aspen-M chip goes beyond simple error correction. According to company disclosures, the system now consistently runs quantum algorithms that demonstrate a tangible speedup for certain optimization and simulation problems—some of which are central to logistics, cryptography, drug discovery, and advanced material... This capability opens the door for enterprises and governments to experiment with quantum solutions that, until recently, were largely theoretical. Quantum computing is often described as the "moonshot" of information technology.

Unlike classical bits, which store data as 0 or 1, quantum bits (qubits) can exist in multiple states simultaneously due to superposition and entanglement. This makes quantum computers potentially vastly more powerful for certain classes of problems. However, practical, large-scale, and reliable quantum computers have remained elusive, hindered by noise, instability, and extremely high error rates. Rigetti’s achievement is significant because it marks one of the first credible demonstrations of a mid-scale, gate-based quantum processor reliably surpassing classical machines for targeted tasks. While other tech giants like Google, IBM, and IonQ have claimed various breakthroughs, Rigetti’s progress is unique for its focus on practical, commercially valuable applications rather than abstract benchmarks.

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