Why Rigetti Computing Stock Soared Today

Key Points

• Rigetti Computing announced a new $5.8 million deal today.

• It wasn't the only deal in the sector moving quantum computing stocks.

• 10 stocks we like better than Rigetti Computing ›

Rigetti Computing (NASDAQ: RGTI) stock soared Thursday morning after the company announced a new deal. The news sent Rigetti shares to an all-time high. Shares of the developer and builder of quantum computing systems were up by 14.1% near the session high, as of 11:53 a.m. ET.

Rigetti announced today that it was awarded a new three-year contract worth $5.8 million. It wasn't the only deal in the quantum computing space that has the stock and its peers moving higher today.

Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More »

Image source: Getty Images.

A quantum computing wave is coming

Rigetti announced a three-year $5.8 million contract from the Air Force Research Laboratory "to advance superconducting quantum networking." The deal is meant to investigate the transformative potential of quantum networking. Rigetti and Dutch research and product development company QphoX will work to find if quantum networks can scale up to larger and more powerful systems in a similar way to classical high-performance computing. The goal is to enable multiple quantum processors to collaboratively solve problems.

Rigetti quantum computing peer IonQ also just announced a new deal yesterday. That company has signed a memorandum of understanding (MoU) with the U.S. Department of Energy to promote the development and deployment of quantum technologies in space. IonQ stock is also on the rise today.

Investors are likely happy to be starting to see legitimacy and practicality for quantum computing. As an example, IonQ CEO Niccolo de Masi said of its new MoU, "we aim to demonstrate the power of quantum computing and networking to enable new applications for secure communications."

As more practical applications are discussed, investors want to get a foot in the door with quantum computing stocks. Those that do, though, should remain vigilant of the risks and likely volatility ahead.

Should you invest $1,000 in Rigetti Computing right now?

Before you buy stock in Rigetti Computing, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Rigetti Computing wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $662,520!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,043,346!*

Now, it’s worth noting Stock Advisor’s total average return is 1,056% — a market-crushing outperformance compared to 188% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.

See the 10 stocks »

*Stock Advisor returns as of September 15, 2025

Howard Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.