Rigetti Computing (NASDAQ:RGTI) is on a tear, climbing 32.64% to $13.039 as of 13:16 PM ET, with momentum building after Donald Trump's inauguration. Investors are piling in, betting on the company's role in the future of quantum computing.
Quantum technology is moving from theory to real-world applications, and excitement around Rigetti reflects that shift. B. Riley analyst Craig Ellis recently raised his price target to $8.50, keeping a Buy rating. His bullish outlook comes from Rigetti's progress in scaling quantum systems for tasks classical computers can't handle. Recent capital raises in late 2024 gave Rigetti a stronger financial foundation, easing concerns over its cash position.
Government interest in quantum projects also puts the company in a prime spot for major contracts. Challenges remain, with technical hurdles and profitability still in question. But growing demand for computing beyond AI signals that Rigetti could play a big role in shaping the future of quantum technology.
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