TLDR
- Rigetti Computing secured an $8.4 million order for a 108-qubit quantum computing system
- Wedbush analyst raised the price target to $40 from $35 with an Outperform rating intact
- This follows $5.7 million in orders for two smaller systems announced four months earlier
- The deals indicate growing preference for owned quantum hardware versus cloud-only solutions
- Analyst consensus rates the stock a Moderate Buy with a $39.78 average price target
Rigetti Computing shares moved higher after the company revealed an $8.4 million order for a 108-qubit quantum computer. The sale signals changing buyer preferences in the quantum space.
Antoine Legault from Wedbush Securities bumped his price target to $40 from $35. He kept his Outperform rating unchanged.
The order marks a turning point. Customers are buying quantum computers instead of just renting cloud access.
Order Flow Picking Up
Rigetti announced $5.7 million in orders back in September for two 9-qubit Novera systems. Those machines are slated for first-half 2026 delivery.
Legault interprets these transactions as evidence of real demand. Governments and scientific organizations want quantum computers they can own and operate.
Commercial buyers will likely follow the same path. As the technology matures, companies will want their own quantum infrastructure.
In quantum computing, actual purchase orders carry more weight than press releases. Nobody knows yet which technology or company will dominate.
When buyers with deep technical knowledge place orders, they’re choosing a specific approach. These customers are selecting Rigetti’s superconducting technology over alternatives.
Analyst Outlook
Legault expects additional customers to make similar purchases as Rigetti expands its capabilities. Higher qubit counts and improved performance will attract more buyers.
Gate fidelity matters a lot. Systems need to achieve 99.9% accuracy or better for mainstream adoption.
Selling complete quantum systems represents the logical progression of the market. More customers will buy hardware as systems become more powerful.
Eleven analysts cover Rigetti with a Moderate Buy consensus rating. Their average target of $39.78 suggests 59% potential upside.
Market Response
The $8.4 million contract follows growing interest from institutional buyers. National governments and research facilities are adding quantum computers to their computing setups.
Legault views these purchase orders as confirmation of Rigetti’s technical direction. Sophisticated buyers are making calculated decisions about superconducting quantum systems.
The company keeps pushing its qubit counts higher while working to improve gate fidelities. These technical advances will determine future customer adoption.
Two orders worth $5.7 million came in four months ago. The latest $8.4 million deal is for a more advanced 108-qubit configuration.
The transactions show quantum computing hardware is gaining commercial traction. Buyers are committing real money to own their systems.
Rigetti continues delivering on orders while scaling its technology. The company has demonstrated it can increase qubit counts in its systems.
As system accuracy approaches the 99.9% threshold, Legault anticipates more customers and partners will place orders. The analyst sees selling complete systems as the natural evolution of the quantum computing business.
