{"id":828370,"date":"2025-02-20T08:11:34","date_gmt":"2025-02-20T14:11:34","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/02\/20\/rigetti-computing-rgti-stock-takes-a-hit-quantum-computing-race-heats-up\/"},"modified":"2025-02-20T08:11:34","modified_gmt":"2025-02-20T14:11:34","slug":"rigetti-computing-rgti-stock-takes-a-hit-quantum-computing-race-heats-up","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/02\/20\/rigetti-computing-rgti-stock-takes-a-hit-quantum-computing-race-heats-up\/","title":{"rendered":"Rigetti Computing (RGTI) Stock Takes a Hit: Quantum Computing Race Heats Up"},"content":{"rendered":"<article id=\"post-26298\">\n<div>\n<h2>TLDR:<\/h2>\n<ul>\n<li>Rigetti Computing (RGTI) stock dropped 10.92% to $10.52 on Tuesday following news about Chinese competitor Origin Quantum\u2019s 72-qubit prototype<\/li>\n<li>Origin Quantum reported over 20 million remote visits to their prototype quantum computer, causing concern among investors<\/li>\n<li>RGTI currently has an 84-qubit Ankaa-3 system and plans to release a 36-qubit system by mid-2025, followed by a 100+ qubit system by year-end<\/li>\n<li>Other quantum computing stocks like D-Wave (QBTS) and IonQ (IONQ) also experienced declines on the same day<\/li>\n<li>Despite the drop, Wall Street maintains a \u201cStrong Buy\u201d rating on RGTI with a mean target of $11 and high target of $17<\/li>\n<\/ul>\n<hr>\n<p>igetti Computing (NASDAQ: RGTI) <a href=\"https:\/\/finance.yahoo.com\/news\/why-rigetti-computing-rgti-crashed-204441663.html\">stock fell 10.92% to close at $10.52 on Tuesday<\/a>, following news about Chinese quantum computing startup Origin Quantum\u2019s technological progress. The decline came as part of a broader reaction in the quantum computing sector.<\/p>\n<p>Origin Quantum announced that its prototype quantum computer, named \u201cWukong,\u201d achieved over 20 million remote visits. The machine features 72 working qubits with fully independent intellectual property, marking a notable advancement in China\u2019s quantum computing capabilities.<\/p>\n<figure id=\"attachment_26301\" aria-describedby=\"caption-attachment-26301\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/coincentral.com\/wp-content\/uploads\/2025\/02\/rgti-stock-1.png\" alt=\"Rigetti Computing, Inc. (RGTI)\" width=\"1038\" height=\"569\"  ><figcaption id=\"caption-attachment-26301\"><a href=\"https:\/\/finance.yahoo.com\/quote\/RGTI\/\">Rigetti Computing, Inc. (RGTI)<\/a><\/figcaption><\/figure>\n<p>The news affected other players in the quantum computing space, with companies like D-Wave (QBTS) and IonQ (IONQ) also experiencing share price declines during Tuesday\u2019s trading session. The market reaction reflected investor concerns about increasing global competition in the quantum computing sector.<\/p>\n<p>Despite the market\u2019s reaction, Rigetti Computing maintains a technological edge with its existing 84-qubit Ankaa-3 system, surpassing Origin Quantum\u2019s current capabilities. The company has outlined plans to release a 36-qubit system based on four 9-qubit chips by mid-2025.<\/p>\n<p>Rigetti\u2019s development roadmap includes the planned release of a system with over 100 qubits by the end of the year. This system aims to achieve a targeted 2x reduction in error rates from current levels, demonstrating the company\u2019s focus on both capacity and accuracy improvements.<\/p>\n<p>The company reported revenue of $2.4 million in its latest quarter, while Origin Quantum remains pre-revenue. This financial performance distinction highlights the different stages of development between the established U.S. company and the Chinese startup.<\/p>\n<p>Wall Street analysts <a href=\"https:\/\/coincentral.com\/rigetti-computing-rgti-stock-price-gets-five-strong-buy-ratings-from-wall-street\/\">maintain a \u201cStrong Buy\u201d rating on RGTI shares,<\/a> with a mean price target of $11, suggesting a 5% upside from current levels. The high target of $17 indicates some analysts see potential for up to 63% growth from the current share price.<\/p>\n<h3>Partnerships<\/h3>\n<p>Rigetti\u2019s partnerships with major technology companies, including Nvidia and Microsoft, remain in place. These collaborations represent ongoing institutional confidence in the company\u2019s technological capabilities and market position.<\/p>\n<p>The stock\u2019s current price represents a more than 50% increase from its recent low, even after Tuesday\u2019s decline. This overall upward trend suggests sustained investor interest despite periodic market volatility.<\/p>\n<p>Trading volume remained robust during Tuesday\u2019s session, with the stock meeting minimum market requirements of $5 million in daily trading volume and maintaining a market capitalization above $2 billion.<\/p>\n<p>Origin Quantum\u2019s development<a href=\"https:\/\/moneycheck.com\/nvidia-nvda-stock-deepseeks-ai-bombshell-why-nvidia-investors-can-rest-easy\/\"> has drawn comparisons to DeepSeek<\/a>, another Chinese startup that impacted U.S. technology stocks in January 2025 with its AI model announcement. However, market observers note that DeepSeek\u2019s initial market impact proved temporary.<\/p>\n<p>Similar to the DeepSeek situation, some analysts suggest that Origin Quantum\u2019s impact <a href=\"https:\/\/blockonomi.com\/googles-willow-quantum-chip-a-step-forward-in-computing-but-bitcoin-remains-secure\/\">on established quantum computing companies<\/a> may be overstated, pointing to Origin Quantum\u2019s status as a private company not directly competing for public investor capital.<\/p>\n<p>Rigetti\u2019s planned quantum computing advancements for 2025 include both the mid-year 36-qubit system release and the year-end 100+ qubit system launch, providing concrete development milestones for investors to monitor.<\/p>\n<\/p><\/div>\n<section>\n<p>\t<img loading=\"lazy\" alt src=\"https:\/\/secure.gravatar.com\/avatar\/9eb3aeab1807087154cda7b62b4a98e3?s=95&#038;r=g\"  height=\"95\" width=\"95\" decoding=\"async\">\t<\/p>\n<div>\n<p><a href=\"https:\/\/coincentral.com\/author\/oli\/\" title=\"Posts by Oliver Dale\" rel=\"author\">Oliver Dale<\/a><\/p>\n<p>Editor-in-Chief of CoinCentral and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology &#038; a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch &#038; More. Contact <span \n                data-original-string='EYKJ1iE3P9f1ut0wTFMfcA==7f41\/8bBq59AOcKw1cPiCouAfc34ZRs28iBHcoj0VzrHJg='\n                class='apbct-email-encoder'\n                title='This contact has been encoded by Anti-Spam by CleanTalk. Click to decode. To finish the decoding make sure that JavaScript is enabled in your browser.'>Ol<span class=\"apbct-blur\">****<\/span>@<span class=\"apbct-blur\">*********<\/span>al.com<\/span><\/p>\n<\/p><\/div>\n<\/section>\n<p><a href=\"https:\/\/coincentral.com\/rigetti-computing-rgti-stock-takes-a-hit-quantum-computing-race-heats-up\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Oliver Dale<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TLDR: Rigetti Computing (RGTI) stock dropped 10.92% to $10.52 on Tuesday following news about Chinese competitor Origin Quantum\u2019s 72-qubit prototype Origin Quantum reported over 20 million remote visits to their prototype quantum computer, causing concern among investors RGTI currently has an 84-qubit Ankaa-3 system and plans to release a 36-qubit system by mid-2025, followed by<\/p>\n","protected":false},"author":1,"featured_media":828371,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4442,141850],"tags":[],"class_list":{"0":"post-828370","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-computing","8":"category-rigetti"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/828370","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=828370"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/828370\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/828371"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=828370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=828370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=828370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}