Rigetti Continues To Surge Amid Quantum Stocks Rally, Lifting Retail Sentiment Even As CEO Calls For Caution

Rigetti Computing Inc. (RGTI) saw its stock surge nearly 5% in after-market trading on Wednesday, following a 22% increase during regular trading hours. 

The gains come as part of a broader rally in quantum stocks, spurred by Nvidia CEO Jensen Huang’s announcement of a “Quantum Day” at the upcoming GPU Technology Conference (GTC), just days after he said practical applications of quantum computing were at least 20 years away. 

The uptick came despite Rigetti CEO Subodh Kulkarni warning investors to “tamp down expectations,” in a Yahoo Finance podcast, after the stock jumped by 48% 

“Particularly because of the hype that is going on in the quantum computing space and some erroneous statements are being made, including by people in the industry, we have to tamp down some expectations,” Kulkarni said.

"So I have to tell [investors] that it's still not the time to talk about sales and sales growth because we are still very much in the technology development mode,” he added.

Kulkarni’s comments reflect the ongoing challenges faced by quantum computing firms, including Rigetti, which has yet to turn a profit from its quantum chipmaking endeavors. 

For the third quarter of 2024, Rigetti posted a net loss of $45 million. 

Recently, the company also filed a report suggesting it may need additional funding by the second quarter of 2026 to continue pursuing its ambitious chipmaking goals.

Rigetti Computing Inc. Sentiment and Message Volume on Jan.16 as of 00:50 a.m. ET | Source: Stocktwits

On Stocktwits, retail sentiment remained in the’bullish’ zone amid ‘high’ levels of chatter in after-market trade on Wednesday.

Investors on the platform are optimistic, with many expecting the stock to see further gains at market opening on Thursday.

Rigetti is currently a favorite among retail investors, according to an ongoing Stocktwits poll, where 34% of respondents have chosen Rigetti over its quantum peers such as SEALSQ Corp. (LAES), IonQ Inc. (IONQ), and D-Wave Quantum Inc. (QBTS).

Stocktwits Poll Asking Retail Investors Which Quantum Computing Stock They're Most Bullish On. | Source: Stocktwits

Rigetti’s stock price has skyrocketed more than 777% in the past year, bringing its market capitalization to over $2 billion. 

It has also been a regular fixture among the top-trending tickers on Stocktwits, signaling strong investor interest.

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