The U.S. government’s $2 billion quantum push gave Rigetti a $100 million boost—sending its stock soaring 65%—but the rally fizzled as technical hurdles persist. With 108 qubits and a self-controlled supply chain, Rigetti’s hardware is advancing, but error rates still block real-world use. They aim for improved accuracy by 2026, yet revenue growth (nearly 200% Q1) can’t offset massive losses or an overvalued stock. Despite a big new order, investors face a tough call: the company’s market cap far outpaces its modest earnings, and with Q2 results looming August 6, more drops may be ahead.
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