Rigetti Computing (NASDAQ: RGTI) Extends Rally with $100 Million Partnership and Ambitious Quantum Roadmap
$100 Million Investment to Fuel Quantum Innovation
Rigetti Computing has extended its rally, surging nearly 10% on Friday to close at $9.35 per share. The bullish momentum follows the announcement of a significant partnership with Quanta Computer, which includes a $35 million investment and a $100 million commitment over the next five years to accelerate the development and commercialization of quantum computing technologies.
As part of the agreement, Quanta purchased RGTI shares at $11.59 apiece, signaling strong institutional confidence in Rigetti’s future growth prospects. This partnership underscores the growing interest and potential within the quantum computing sector, with both companies aiming to push the boundaries of quantum technology in the coming years.
Alliance Global Partners Boosts Price Target
Following the news of this transformative partnership, Alliance Global Partners raised its price target for Rigetti, increasing it from $15 to $16 while maintaining a “Buy” rating. The firm’s optimism is fueled by Rigetti’s aggressive development timeline and the high potential impact of its upcoming quantum computing systems. Investors are now looking closely at the company’s execution and ability to deliver on its ambitious goals.
Upcoming Quantum Breakthroughs in 2025
Rigetti’s roadmap for 2025 includes key advancements in quantum computing. By mid-2025, the company plans to launch a 36-qubit system built from four 9-qubit chips. Additionally, Rigetti anticipates unveiling a system with over 100 qubits by the end of the year. A significant focus will be on achieving a 2x reduction in error rates, a critical milestone toward making quantum computing commercially viable and scalable.
As quantum computing continues to evolve, Rigetti’s innovations position it as one of the frontrunners in the race to unlock the full potential of quantum technology. Investors are eagerly watching the company’s progress and execution of its ambitious goals in the months ahead.
Investor Sentiment and Future Outlook
Rigetti’s latest developments, paired with significant institutional backing, have sparked optimism among analysts and investors. The growing excitement around its future breakthroughs in quantum computing is reflected in its recent stock rally, with investors closely monitoring the company’s next steps in making quantum computing a mainstream reality. As Rigetti advances on its ambitious roadmap, the company’s ability to achieve these milestones will be crucial in shaping its future trajectory in the quantum computing industry.
