Rigetti Computing Is Skyrocketing Today -- Is the Quantum Stock a Buy Right Now?
Key Points
Rigetti stock is surging today thanks to news that Nvidia is launching new models to support quantum development.
Nvidia's new family of models is designed to accelerate the development of useful quantum-computing applications.
Rigetti's highly growth-dependent valuation makes the stock a risky play.
- 10 stocks we like better than Rigetti Computing ›
Rigetti Computing (NASDAQ: RGTI) stock is roaring higher in Wednesday's trading. The quantum computing company's share price was up 15.5% as of 12:30 p.m. ET amid the backdrop of a 0.4% gain for the S&P 500 and a 1.2% gain for the Nasdaq Composite.
Quantum computing stocks are rallying today thanks to industry-related news from Nvidia, and Rigetti is participating in the valuation surge. After yesterday's market close, Nvidia published a press release announcing that it was launching the first suite of open source quantum artificial intelligence (AI) models with the goal of helping researchers and businesses build quantum processors that can run useful applications.
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Is Rigetti Computing stock a buy right now?
Even after a recent valuation surge, Rigetti stock is still down roughly 13% across 2026's trading. The company's share price is also down roughly 66% from its lifetime high. On the other hand, the stock's valuation pullback over the last year doesn't necessarily mean that shares are cheap right now.
While increasing support from Nvidia and other positive developments in the quantum space help support the outlook for accelerated scaling in the industry, Rigetti stock remains highly speculative and has a valuation that already prices in a lot of strong growth. As of this writing, the company is valued at roughly 285 times this year's expected sales. While the company could eventually go on to deliver breakthrough tech that makes its current valuation look cheap, it's a risky bet -- and I'd wait for a share-price pullback before betting big on the stock.
Should you buy stock in Rigetti Computing right now?
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Keith Noonan 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.
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