Rigetti Seen Growing Sales After 185% Revenue Jump as Repeating 718% Stock Surge Looks Unlikely
Updated
Updated · The Motley Fool · Sep 6
Rigetti Seen Growing Sales After 185% Revenue Jump as Repeating 718% Stock Surge Looks Unlikely
2 articles · Updated · The Motley Fool · Sep 6
Summary
Rigetti is expected to add customers and expand quantum-computing sales over the next three years, but analysts see little chance its shares repeat the past three years’ 718% climb.
Q2 revenue rose 185% to just over $5.1 million, underscoring management’s view that commercial revenue is still early and meaningful sales likely depend on reaching quantum advantage in about three years.
Rigetti is still building toward that goal through an expanded Hewlett Packard-Pittsburgh Supercomputing Center collaboration, a letter of intent for up to $100 million from the U.S. Commerce Department, and $541 million in cash with no debt.
The stock outlook is capped by a tougher market backdrop: investor momentum has shifted toward profitable AI companies, with global AI infrastructure spending projected to top $1 trillion next year.