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    Rigetti Computing (RGTI) Lands CHIPS Act Funding, Is It A Bargain?

    Simply Wall St·10/29/2026 08:38:20
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    Rigetti Computing (RGTI) is heading into its November 10 Q3 2026 earnings call with two focal points for investors: fresh CHIPS Act funding and a closer look at its quantum roadmap.

    Rigetti Computing’s share price has swung sharply over the past year, with the latest close at $12.40 and a year to date share price return down 47.46%, while the 1 year total shareholder return is down 70.84% despite a very large 3 year total shareholder return. This hints that enthusiasm has cooled as investors weigh rapid revenue growth, fresh CHIPS Act funding and execution risk around upcoming milestones.

    Scan how Rigetti Computing compares to other potential quantum and advanced computing plays by reviewing the hand picked 25 quantum computing stocks that could be next in line for attention.

    Bulls point to Rigetti Computing’s rapid 44.84% annual revenue growth and the fresh US$100 million CHIPS Act award, while bears focus on the sharp share price decline and heavy losses. Which story does the current valuation lean toward?

    Most Popular Narrative: 22% Undervalued

    Rigetti Computing’s most followed narrative pins fair value at $16.00 per share, compared with the recent close at $12.40. As a result, the discussion centers on whether the market is discounting its quantum hardware progress too heavily.

    Rigetti looks better today than it did in the prior version of the thesis, mainly because the company now has a fresher proof point: Q1 2026 revenue of $4.4 million, up sharply year over year, helped by Novera system deliveries, while still maintaining $569 million of cash, cash equivalents, and investments and zero debt. That matters because Rigetti had been easier to like as a technology concept than as a business. Q1 does not solve that gap, but it narrows it.

    See why 41 investors see Rigetti Computing as 22% undervalued.

    Result: Fair Value of $16.00 (UNDERVALUED)

    Still, Rigetti Computing’s heavy losses and the wide gap between its market value and current revenue leave the narrative exposed to any stumble in technical delivery.

    Find out about the key risks to this Rigetti Computing narrative.

    Next Steps

    Mixed messages in the Rigetti Computing story are clear, with both concern and optimism in play. Check the data now and weigh the 1 key reward and 3 important warning signs.

    Looking For More Investment Ideas Beyond Rigetti Computing?

    If you stop at Rigetti Computing, you risk missing other opportunities that might fit your goals even better. Consider expanding your search before the market moves.