TLDR
- Rigetti Computing stock jumped 10.9% after Nvidia CEO Jensen Huang called quantum computing an “inflection point” technology
- Company completed a $350 million equity offering on June 11, 2025, providing major funding for operations
- First-quarter results showed turnaround to $43 million profit from previous $21 million loss
- Cooler inflation data boosted investor appetite for speculative growth stocks like quantum computing companies
- Shares trade at 31.7% discount to analyst price target of $14.80 with 41.3% annual revenue growth expected
Rigetti Computing stock surged 10.9% Wednesday as quantum computing stocks caught fire following bullish comments from Nvidia’s CEO. The rally reflected multiple positive catalysts hitting the quantum computing specialist.
Nvidia CEO Jensen Huang kicked off the company’s GTC Paris conference with promising remarks about quantum computing. “Quantum computing is reaching an inflection point,” Huang told attendees during his keynote speech.
The comments sparked another powerful rally across quantum computing stocks. Rigetti’s shares climbed as much as 20.6% earlier in the session before settling back.
Jensen Huang says quantum computing is hitting an inflection point — logical qubits are finally scaling fast
Moore’s law–style explosion:
"i could expect 10x more every 5 years, 100x every 10"Quantum-classical computing is now within reach for solving some interesting… pic.twitter.com/DwRxkdPLCl
— Haider. (@slow_developer) June 11, 2025
The quantum computing specialist also benefited from better-than-expected inflation data. The Bureau of Labor Statistics released May’s consumer price index figures Wednesday morning.
Core CPI rose 2.8% annually, below the 2.9% economists expected. Monthly inflation ticked up just 0.1% compared to April’s reading, also below the 0.2% forecast.
The cooler inflation data supports the case for potential Federal Reserve rate cuts this year. Lower interest rates typically benefit speculative growth stocks like Rigetti.
Major Capital Injection
Rigetti completed a $350 million equity offering on June 11, 2025. The funding provides substantial capital for the company’s quantum computing operations and research.
The timing of the equity raise coincided with positive market sentiment. Both the S&P 500 and Nasdaq posted gains as trade tensions eased and inflation data came in favorable.
The fresh capital comes as Rigetti continues advancing its quantum computing technology. The company has formed strategic collaborations with QphoX and the National Quantum Computing Centre.
These partnerships strengthen Rigetti’s position in the growing quantum computing market. The company’s focus on quantum advancements appears to be paying off with investors.
The $350 million equity offering represents one of the largest funding rounds in Rigetti’s history. It provides the company with runway for growth initiatives.
Financial Performance Turnaround
Rigetti’s first-quarter earnings showed a dramatic turnaround. The company reported a $43 million profit, reversing a $21 million loss from the previous period.
This swing to profitability came despite declining sales during the quarter. The earnings beat demonstrates improved operational efficiency at the quantum computing firm.
However, Rigetti remains unprofitable on an annual basis. Analysts don’t expect the company to achieve sustained profitability over the next three years.
The company’s shares have delivered exceptional returns over the past year. Rigetti outperformed both the broader US market return of 12.8% and the semiconductor industry’s 11.8% gain.
Current trading levels represent a 31.7% discount to the consensus analyst price target of $14.80. This gap suggests potential upside if the company can execute on its growth plans.
Revenue forecasts show promise with analysts expecting 41.3% annual growth. The successful equity offering provides the capital needed to fund this expansion.
On June 10, 2025, Rigetti held its Annual Meeting of Stockholders. Two Class III Directors, Michael Clifton and Ray Johnson, were elected to serve until 2028.
Stockholders also ratified the appointment of BDO USA, P.C. as the independent registered public accounting firm for fiscal year 2025. The most recent analyst rating on RGTI stock is a Buy with a $2.00 price target.
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