Rigetti Computing Inc. (NASDAQ:RGTI) are trending on Friday.
Check out the current price of RGTI stock here.
After-Hours Performance Highlights
RGTI shares rose 2.34% during after-hours trading, reaching $36.23 on Thursday.
The quantum computing company finished the day's regular trading with an 18.59% increase, adding to its 4,620% growth over the past year.
$5.7 Million Purchase Orders Drive Momentum
Last week, the Californian company revealed it had secured purchase orders worth around $5.7 million for two 9-qubit Novera quantum computing systems. These systems are upgradeable, allowing customers to boost the number of qubits for more advanced computations and research.
The systems are expected to be delivered in the first half of 2026.
Customer Base Expanding Globally
One of the systems will be used by a tech manufacturing company in Asia as a testing platform to build quantum computing knowledge and evaluate their own technologies.
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The second system was bought by a California-based startup focused on applied physics and artificial intelligence, and will be used for research in quantum hardware and error correction.
Technical Specifications and Research Applications
The Novera systems are built with 9-qubit processors that use Rigetti’s Ankaa-class architecture. They feature a square grid layout and adjustable connections between qubits for precise two-qubit operations. Each system comes with a matching dilution refrigerator and advanced control systems.
The platform enables research in qubit operations, control system optimization, gate design, decoherence mitigation, and quantum algorithm development.
“The Novera QPU continues to be chosen and trusted by national labs and researchers across the world to advance quantum computing technology R&D,” said Dr. Subodh Kulkarni, Rigetti CEO. “We are excited to see the increased demand for on-premises quantum computing systems as the industry matures.”
Analyst Sentiment Remains Bullish
Five analysts recently rated RGTI with four bullish and one somewhat bullish view, setting an average price target of $21.40.
Over the past year, Rigetti Computing’s stock has fluctuated between $0.73 and $35.81. With a market capitalization of $11.48 billion, the company has an average trading volume of 64.40 million shares.
Price Action: According to Benzinga Pro data, RGTI closed at $35.40 on Thursday.
With a strong Momentum in the 99th percentile, Benzinga’s Edge Stock Rankings indicate that RGTI has a positive price trend across all time frames. Know how its momentum lines up with other well-known names.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
