Story perspectives

Rigetti Stock Dips 25% Amid Quantum Valuation Concerns

10/23/2025

Summary

Story summary

Rigetti Computing's stock closed at $36.06 after a 25% drop from its peak of $56.34.
Benchmark's David Williams raised a price target to $50, citing operational execution and early contracts.
However, concerns persist about the sustainability of high valuations as Rigetti and peers remain unprofitable.
The broader quantum computing sector shows high expectations and lacks evidence of widespread commercialization, which suggests valuations may not be sustainable.

History

Historical Context

The quantum computing sector saw a surge in investment around 2018, with funding reaching approximately $1 billion, driven by high expectations for technological advancements. However, despite significant progress, a 2023 report highlighted that current quantum computers remain largely impractical for real-world applications, echoing historical trends where speculative investments often outpaced actual commercial viability, prompting a reassessment of investor expectations.

1 of 2

Story summary

Rigetti Computing's stock closed at $36.06 after a 25% drop from its peak of $56.34.
Benchmark's David Williams raised a price target to $50, citing operational execution and early contracts.
However, concerns persist about the sustainability of high valuations as Rigetti and peers remain unprofitable.
The broader quantum computing sector shows high expectations and lacks evidence of widespread commercialization, which suggests valuations may not be sustainable.

1 / 2