Rigetti Stock Jumps 50% After 108-Qubit Launch and $100 Million U.S. Funding
Updated
Updated · The Motley Fool · Jun 1
Rigetti Stock Jumps 50% After 108-Qubit Launch and $100 Million U.S. Funding
2 articles · Updated · The Motley Fool · Jun 1
Rigetti shares have surged more than 50% in a month as investors piled into quantum-computing names after the company unveiled its 108-qubit Cepheus-1-108Q system.
$100 million in U.S. funding, part of a broader $2 billion quantum package, added momentum to the rally and reinforced bets on Rigetti as a pure-play contender.
Revenue rose to $4.4 million from $1.5 million a year earlier, but the company still burned about $20 million in free cash flow in the quarter despite holding more than $400 million in cash.
That gap between promise and business scale has left Rigetti trading at nearly 900 times sales, making the stock highly exposed if enthusiasm for speculative AI-adjacent bets fades.