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.
RGTI Updated Jul 12, 2026 4 AI consumers· 1 recurring
Per the valuechain.wiki graph, Rigetti Computing is directly linked to 3 companies (1 supply, 1 revenue, 1 investment relationships) and reaches 16 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 |
|---|---|---|---|---|---|---|---|
| Datadog | lead2 | +80.9 | -58.7 | +65.1 | +17.7 | -4.8 | +89.4 |
| Palo Alto Networks | lead2 | +56.7 | -24.8 | +111.3 | +23.4 | +1.2 | +76.9 |
| CrowdStrike | lead2 | -3.3 | -48.6 | +142.5 | +34 | +37 | +59.7 |
| Illumina | lead2 | +2.8 | -46.9 | -31.1 | -1.3 | -1.8 | +45 |
| Snowflake | lead2 | +20.4 | -57.6 | +38.6 | -22.4 | +42.1 | +19.2 |
| Airbnb Inc | lead2 | · | -48.6 | +59.2 | -3.5 | +3.3 | +9.5 |
| Schrodinger | lead2 | -56 | -46.3 | +91.5 | -46.1 | -7.3 | -7.8 |
| MercadoLibre, Inc. | lead2 | -19.5 | -37.2 | +85.7 | +8.2 | +18.5 | -8 |
| Uber | lead2 | -17.8 | -41 | +149 | -2 | +35.5 | -8.8 |
| The Walt Disney Company | lead2 | -14.5 | -43.9 | +4.3 | +24.4 | +3.3 | -15.3 |
| Coupang | lead2 | · | -49.9 | +10.1 | +35.8 | +7.3 | -20.3 |
| Netflix | lead2 | +11.4 | -51.1 | +65.1 | +83.1 | +5.2 | -21.7 |
| Amazon | lead1 | +2.4 | -49.6 | +80.9 | +44.4 | +5.2 | +6.3 |
| Rigetti Computing | node | · | -92.9 | +35.1 | +1449.2 | +45.2 | -25.3 |
| Quanta Computer | benef1 | +22.2 | -12.8 | +254.5 | +12.7 | +8.9 | +33.4 |
| NVIDIA | benef2 | +125.5 | -50.3 | +239 | +171.2 | +38.9 | +13.3 |
YTD as of 2026-07-10 · source: Yahoo Finance
A full-stack superconducting-qubit quantum firm in a pre-profit stage — revenue in the $7M range against a $216M loss — so milestones and capital raises move the stock more than fundamentals. The thesis is that government and research orders underpin revenue (AFRL, $100M CHIPS, India CDAC) while Quanta's $35M strategic investment and co-development bolster manufacturing and funding — pre-commercialization, it sells access via AWS Braket and NVIDIA hybrid. Risks are the technical realization of the 1,000+ qubit roadmap and the ongoing need to raise capital, and in graph terms it rides on access channels and compute partners like Amazon and NVIDIA.
Analysis generated from returns as of 2026-07-09Analyst ratings
Consensus: Buy 2 · Hold 1 · Sell 0 · Avg. target $32 · Price $16.64 (07-11) · Upside +92%
| 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.