Rigetti Computing (RGTI)
Builds superconducting quantum systems from in-house chip fabrication to cloud access.
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Builds superconducting quantum processors, on-premises Novera and Cepheus systems, and cloud access through Quantum Cloud Services. Most revenue comes from technology-development contracts, while an in-house fabrication facility and chiplet architecture support a vertically integrated hardware-to-cloud stack.
Designs, fabricates, and operates superconducting quantum computers across a full stack of processors, control electronics, software, and cloud services. Novera QPUs and Cepheus systems are sold for on-premises use, while Quantum Cloud Services provides direct access and distribution through Amazon Braket and Microsoft Azure Quantum.
Pairs a proprietary chiplet architecture with in-house production at Fab-1, allowing processor design, fabrication, testing, system integration, and cloud operation within one organization. Customers span government agencies, national laboratories, universities, research centers, and enterprises in the United States and international markets.
Generates most revenue from technology-development contracts, with QPU sales and cloud services forming the longer-term commercial model. Demand remains centered on research and development, and government-funded programs are governed by procurement rules; systems and technology also face U.S. export controls.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 7, 2026 | Jefferies | Reiterate | Rating: —Target: $30 | Target: $18 |
| Jul 27, 2026 | Benchmark | Initiate | Rating: — | |
| May 12, 2026 | Mizuho Securities | Target | Target: $50 | Target: $27 |
| Apr 20, 2026 | Northland Securities | Target | Target: — | Target: $20 |
| Mar 5, 2026 | Rosenblatt Securities | Target | Target: — | Target: $40 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $393.7M · Total debt $7.7M · Total assets $648.2M · Shareholders' equity $537.4M
- Revenue
- $5.1M
- Operating income
- −$28.1M
- Net income
- −$52.6M
No dividends on record.
| Institutions | 52.91% | 176.60M shares | |
|---|---|---|---|
| 543 holders · as of Jun 30, 2026 | |||
| Insiders | 0.50% | 1.66M shares | |
| 9 holders · as of Sep 10, 2026 | |||
| Strategic holders | 5.67% | 18.92M shares | |
| 1 holder · as of Nov 18, 2024 | |||
| Other | 40.92% | 136.60M shares | |
| remainder | |||
333.77M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 8.55% | 28.53M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 5.96% | 19.90M | as of Jun 30, 2026 |
Bessemer Venture Partners X L.P.Strategic10 percent owner | 5.67% | 18.92M | filed Nov 18, 2024 |
Vanguard Capital Management LLCInstitution | 4.32% | 14.43M | as of Jun 30, 2026 |
State Street CorpInstitution | 3.54% | 11.83M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 9, 2026 | Subodh K. Kulkarni | director, officer: President and CEO | −120,000 | $15.68 |
| Sep 3, 2026 | Jeffrey A. Bertelsen | officer: CHIEF FINANCIAL OFFICER | −25,000 | $15.00 |
| Aug 20, 2026 | Andrew Joseph Bestwick | officer: CHIEF TECHNOLOGY OFFICER | −5,791 | $16.81 |
| Aug 20, 2026 | David Rivas | officer: CHIEF OPERATING OFFICER | −9,038 | $16.79 |
| Aug 20, 2026 | Jeffrey A. Bertelsen | officer: CHIEF FINANCIAL OFFICER | −3,860 | $16.89 |
- IBM
Superconducting QPU leader with Heron, IBM Quantum Network, and Qiskit.
- Alphabet Class A
Superconducting leader with Willow chip and first verifiable quantum advantage.
- Microsoft
Azure Quantum cloud platform plus topological Majorana qubit roadmap.
- IonQ
Trapped-ion pure-play; highest revenue among public peers; gov/defense leader.
- Amazon
AWS Braket quantum marketplace and Ocelot chip R&D; named in Rigetti 10-K.
- D-Wave Quantum
Dual-platform pure-play (annealing + gate-model) with proven QCaaS traction.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Rigetti Computing | $16.31 | −1.33% | $5.49B | — | — | 411.5 | +185.3% |
| IBM | $233.62 | +0.73% | $218.51B | 20.5 | 18.3 | 3.2 | +1.1% |
| Alphabet Class A | $361.40 | +1.81% | $4.30T | 17.8 | 26.9 | 9.6 | +24.2% |
| Microsoft | $500.21 | −0.28% | $3.72T | 27.9 | 25.5 | 11.2 | +17.8% |
| IonQ | $40.38 | −0.32% | $15.12B | — | — | 61.3 | +286.8% |
| Amazon | $257.88 | −0.22% | $2.78T | 20.8 | 27.6 | 3.6 | +19.6% |
| D-Wave Quantum | $17.40 | −1.72% | $6.50B | — | — | 523.2 | −0.6% |
| Median | 20.7 | 26.2 | 10.4 | +18.7% |