Why Is Rigetti Computing Stock Surging Monday?
Rigetti Computing Inc. (NASDAQ:RGTI) stock rose on Monday after the company expanded its collaboration with Hewlett Packard Enterprise Co. (NYSE:HPE) and the Pittsburgh Supercomputing Center.
The stock outperformed the technology sector, which fell 1.68%. Rigetti also benefited from a sector-wide rally after D-Wave Quantum Inc. (NYSE:QBTS) announced a commercial agreement with AT&T Inc. (NYSE:T), lifting shares of other quantum computing companies.
TangleLab Quantum Testbed
Rigetti will supply a 9-qubit Novera quantum computing system for the Pittsburgh Supercomputing Center’s TangleLab testbed, funded by a $5 million National Science Foundation grant.
The company will work with HPE and the center to integrate the quantum system with a classical high-performance computer.
The project will support hybrid quantum-classical research and testing for institutions, public-sector organizations and enterprises.
Construction is expected to begin September 1, 2026, with full operations planned for 2027.
Research And Training Access
The center will allocate access through a competitive proposal process. Researchers may receive dedicated system time, while educators can use the platform for classes and workshops.
The center will also provide onboarding, training, and research consulting.
“We are excited to have a Novera at the core of TangleLab, which will provide researchers and educators access to a state-of-the-art hybrid quantum-classical computer to push the boundaries of quantum computing innovation and discovery,” Rigetti CEO Subodh Kulkarni said.
Rigetti Computing Technical Outlook
Currently, Rigetti’s stock price is $15.22, which is 6.1% below its 20-day simple moving average (SMA) of $16.21.
The moving average convergence divergence (MACD) is above its signal line, suggesting that downside pressure is easing, indicating a potential shift toward improved momentum.
The stock is also significantly below its longer-term moving averages, with the 50-day SMA at $19.39 and the 200-day SMA at $22.62, reflecting a bearish trend in the longer term.
However, the recent news may provide a catalyst for a reversal if momentum continues to build.
RGTI Earnings And Analyst Outlook
Rigetti Computing is set to report earnings on August 6, 2026 (confirmed).
- EPS Estimate: Loss of 5 cents (up from Loss of 13 cents)
- Revenue Estimate: $5.09 million (up from $1.80 million)
Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price forecast of $30.75. Recent analyst moves include:
- Rosenblatt: Buy (Maintains forecast to $40.00) (June 11)
- Mizuho: Outperform (Lowers forecast to $27.00) (May 12)
- Needham: Buy (Maintains forecast to $31.00) (May 12)
Rigetti Computing Price Action
RGTI Stock Price Activity: Rigetti Computing shares were up 7.60% at $15.23 at the time of publication on Monday, according to Benzinga Pro data.
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