Why Regetti (RGTI) Stock Is Jumping Today?

Sep 19 - Rigetti Computing RGTI surged about 15% on Friday after securing a three-year, $5.8 million contract with the U.S. Air Force to advance superconducting quantum networking technology in partnership with QphoX. The deal underscores the strategic importance of U.S. leadership in quantum information science, a sector where Rigetti has been steadily building momentum.

Shares of RGTI recently touched an all-time high of $26, lifting the company's market capitalization to about $6.5 billion. The rally extends a remarkable run in 2025, with the stock climbing more than 2,400% year-to-date. Despite the spike, InvestingPro data shows Rigetti trades above its fair value, adding a layer of caution for investors.

Financial results remain mixed. In Q2 2025, Rigetti posted revenue of $1.8 million, slightly below forecasts, and a per-share loss of $0.05. Yet analysts remain optimistic. Benchmark boosted its price target to $20, while Cantor Fitzgerald and Needham reiterated bullish views, citing progress in Rigetti's chiplet-based scaling strategy.

The combination of government backing and analyst support has fueled confidence, keeping Rigetti a closely watched quantum stock in U.S. markets.