Rigetti Computing secures $5.7 million in orders for two upgradeable 9-qubit quantum systems, expected delivery in 2026.
Quiver AI Summary
Rigetti Computing, Inc. has announced $5.7 million in purchase orders for two 9-qubit Novera™ quantum computing systems, set to be delivered in the first half of 2026. One system will be used by an Asian technology manufacturing company to develop quantum computing capabilities and benchmark its technologies, while the other will assist a California-based startup in quantum hardware and error correction research. Rigetti’s CEO highlighted the growing demand for on-premises quantum computing systems as the industry matures. The Novera systems come equipped with a high-performance quantum processor, dilution refrigerator, and advanced control systems, catering to various research needs in quantum computing. Rigetti is recognized for its contributions to full-stack quantum computing and has been offering cloud-based quantum computer access since 2017, now expanding into on-premises solutions for further research and development.
Potential Positives
- Rigetti has secured purchase orders totaling approximately $5.7 million for two 9-qubit Novera™ quantum computing systems, indicating strong demand for its products.
- Both Novera systems are upgradeable, which enhances their value for customers seeking to engage in complex quantum computing research.
- One of the buyers is a significant Asian technology manufacturing company, which can potentially enhance Rigetti's reputation and visibility in the global market.
- The other system is being acquired by a California-based startup focused on applied physics and AI, showcasing Rigetti's ability to attract diverse customers across different sectors.
Potential Negatives
- Forward-looking statements in the release highlight inherent uncertainties and risks that could impact the company's ability to deliver products as scheduled, raising concerns among investors.
- Emphasis on the need for technological advancements and successful partnerships implies that the company may face challenges in keeping up with the fast-paced quantum computing market.
- Reference to external factors such as global supply chain issues and economic conditions may signal volatility that could negatively affect the company's operations and financial performance.
FAQ
What recent contracts did Rigetti Computing secure?
Rigetti Computing secured purchase orders totaling approximately $5.7 million for two 9-qubit Novera™ quantum computing systems.
Who are the customers for the Novera quantum systems?
One system is purchased by an Asian technology manufacturing company and the other by a California-based applied physics startup.
When is the delivery expected for the quantum systems?
The delivery for both quantum systems is expected in the first half of 2026.
What features do the Novera quantum systems offer?
The Novera systems include a 9-qubit processor, dilution refrigerator, and advanced control systems for quantum research.
What is Rigetti's role in quantum computing?
Rigetti is a pioneer in full-stack quantum computing, offering cloud-based and on-premises quantum computing systems for various sectors.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$RGTI Insider Trading Activity
$RGTI insiders have traded $RGTI stock on the open market 25 times in the past 6 months. Of those trades, 0 have been purchases and 25 have been sales.
Here’s a breakdown of recent trading of $RGTI stock by insiders over the last 6 months:
- SUBODH K KULKARNI (President and CEO) sold 1,000,000 shares for an estimated $12,004,400
- MICHAEL S. CLIFTON has made 0 purchases and 7 sales selling 300,000 shares for an estimated $4,652,490.
- THOMAS J IANNOTTI has made 0 purchases and 2 sales selling 200,000 shares for an estimated $3,619,890.
- RAY O JOHNSON has made 0 purchases and 2 sales selling 166,715 shares for an estimated $3,132,200.
- JEFFREY A. BERTELSEN (CHIEF FINANCIAL OFFICER) has made 0 purchases and 4 sales selling 235,169 shares for an estimated $2,754,483.
- HELENE GAIL SANDFORD has made 0 purchases and 7 sales selling 90,283 shares for an estimated $1,432,977.
- DAVID RIVAS (CHIEF TECHNOLOGY OFFICER) has made 0 purchases and 2 sales selling 89,170 shares for an estimated $1,191,273.
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$RGTI Hedge Fund Activity
We have seen 230 institutional investors add shares of $RGTI stock to their portfolio, and 107 decrease their positions in their most recent quarter.
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$RGTI Analyst Ratings
Wall Street analysts have issued reports on $RGTI in the last several months. We have seen 4 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Needham issued a "Buy" rating on 08/04/2025
- B. Riley Securities issued a "Buy" rating on 07/23/2025
- Cantor Fitzgerald issued a "Overweight" rating on 07/02/2025
- Benchmark issued a "Buy" rating on 05/15/2025
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$RGTI Price Targets
Multiple analysts have issued price targets for $RGTI recently. We have seen 4 analysts offer price targets for $RGTI in the last 6 months, with a median target of $19.0.
Here are some recent targets:
- Craig Ellis from B. Riley Securities set a target price of $35.0 on 09/22/2025
- David Williams from Benchmark set a target price of $20.0 on 08/13/2025
- Quinn Bolton from Needham set a target price of $18.0 on 08/04/2025
- Troy Jensen from Cantor Fitzgerald set a target price of $15.0 on 07/02/2025
Full Release
BERKELEY, Calif., Sept. 30, 2025 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (Nasdaq: RGTI) (“Rigetti” or the “Company”), a pioneer in full-stack quantum-classical computing, announced today that it has secured purchase orders totaling approximately $5.7 million for two 9-qubit Novera™ quantum computing systems. Both systems are upgradeable, allowing the customers to increase the system qubit count for more complex computations and research. Delivery for both systems is expected in the first half of 2026.
One system is being purchased by an Asian technology manufacturing company. The system will serve as a testbed to develop internal quantum computing expertise. They also plan to benchmark and validate their own quantum computing technologies with the Novera system.
The other system is being purchased by a California-based applied physics and artificial intelligence startup. The system will be used for quantum hardware and error correction research.
“The Novera QPU continues to be chosen and trusted by national labs and researchers across the world to advance quantum computing technology R&D,” says Dr. Subodh Kulkarni, Rigetti CEO. “We are excited to see the increased demand for on-premises quantum computing systems as the industry matures.”
Rigetti’s Novera quantum computing systems includes all of the components needed for a hands-on and high performance quantum computing R&D:
- A 9-qubit quantum processor based on Rigetti’s Ankaa™-class architecture, featuring a square lattice of qubits and tunable couplers for high fidelity two-qubit operations
- A compatible dilution refrigerator to keep the qubits cold and vacuum-sealed
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Rigetti’s state-of-the-art control systems to control, calibrate, and read out the qubit states
The Novera quantum computing system is ideal for pursuing research to better understand key areas of quantum computing, including: (1) how qubits operate, (2) how to optimize control systems, (3) testing how to design and characterize gates, (4) ways to mitigate decoherence, and (5) how to develop more efficient quantum algorithms.
The Novera QPU is manufactured in Rigetti’s Fab-1, the industry’s first dedicated and integrated quantum device manufacturing facility.
About Rigetti
Rigetti is a pioneer in full-stack quantum computing. The Company has operated quantum computers over the cloud since 2017 and serves global enterprise, government, and research clients through its Rigetti Quantum Cloud Services platform. In 2021, Rigetti began selling on-premises quantum computing systems with qubit counts between 24 and 84 qubits, supporting national laboratories and quantum computing centers. Rigetti’s 9-qubit Novera™ QPU was introduced in 2023 supporting a broader R&D community with a high-performance, on-premises QPU designed to plug into a customer’s existing cryogenic and control systems. The Company’s proprietary quantum-classical infrastructure provides high-performance integration with public and private clouds for practical quantum computing. Rigetti has developed the industry’s first multi-chip quantum processor for scalable quantum computing systems. The Company designs and manufactures its chips in-house at Fab-1, the industry’s first dedicated and integrated quantum device manufacturing facility. Learn more at
https://www.rigetti.com/
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Rigetti Computing Media Contact:
[email protected]
Cautionary Language and Forward-Looking Statements
Certain statements in this communication may be considered “forward-looking statements” within the meaning of the federal securities laws, including statements with respect to the Company’s expectations with respect to its future success and performance, including expectations for delivering the systems in the first half of 2026. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by the Company and its management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: the Company’s ability to achieve milestones, technological advancements, including with respect to its technology roadmap; Company’s ability to deliver products to customers in time or at all, including actions by customers, such as cancelling orders; the ability of the Company to obtain government contracts successfully and in a timely manner and the availability of government funding; the potential of quantum computing; the success of the Company’s partnerships and collaborations; the Company’s ability to accelerate its development of multiple generations of quantum processors; the outcome of any legal proceedings that may be instituted against the Company or others; the ability to maintain relationships with customers and suppliers and attract and retain management and key employees; costs related to operating as a public company; changes in applicable laws or regulations; the possibility that the Company may be adversely affected by other economic, business, or competitive factors; the Company’s estimates of expenses and profitability; the evolution of the markets in which the Company competes; the ability of the Company to implement its strategic initiatives and expansion plans; the expected use of proceeds from the Company’s past and future financings or other capital; the sufficiency of the Company’s cash resources; unfavorable conditions in the Company’s industry, the global economy or global supply chain, including rising inflation and interest rates, deteriorating international trade relations, political turmoil, natural catastrophes, warfare, and terrorist attacks; and other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 and other documents filed by the Company from time to time with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements other than as required by applicable law. The Company does not give any assurance that it will achieve its expectations.