Rigetti stock (NASDAQ: RGTI) is off to a strong start on Friday, as it surged 7% in pre-market trading. The surge comes after a string of exciting contract wins that have investors buzzing about the quantum computing company’s prospects.
The latest wins include $5.7 million in new orders for Rigetti’s Novera system, along with a $5.8 million contract from the US Air Force Research Laboratory (AFRL).
These deals highlight growing interest in Rigetti’s technology, not just from private companies, but from defense agencies as well.
Shares have been on an upward trajectory, recently hitting a 52-week high of $35.81, with trading volumes soaring past 145 million shares.
The rally reflects renewed optimism about Rigetti’s journey toward commercializing its quantum computing solutions and the market’s confidence in the company’s future.
Rigetti stock: What’s behind the bullish momentum?
Rigetti stock got a big boost thanks to a couple of exciting developments in late September.
First up, the company landed $5.7 million in orders for two of its upgradeable 9-qubit Novera™ quantum systems, scheduled for delivery in the first half of 2026.
One system is headed to an Asian tech manufacturer looking to build its own quantum expertise, while the other will help a California-based AI startup with quantum hardware and error correction research.
Rigetti CEO Dr. Subodh Kulkarni said:
The Novera QPU continues to be chosen and trusted by national labs and researchers across the world
At the same time, Rigetti secured a three-year, $5.8 million contract from the U.S. Air Force Research Laboratory, working alongside Dutch quantum transduction company QphoX.
The goal? Developing superconducting quantum networking—a key step toward distributed quantum computing and secure quantum communication over optical fiber.
Beyond the money, this deal highlights Rigetti’s technical chops and boosts its standing in the global race to build the next generation of quantum infrastructure.
What the rally mean for investors and the quantum sector?
These two big developments have sparked a wider rally across the quantum computing sector, with peers like D-Wave and IonQ also seeing gains.
Analysts are taking notice too, as B. Riley recently bumped up its price target on RGTI to $35, which is pretty much in line with current trading levels, while the overall consensus still leans “Buy,” even though the average target sits more conservatively at $19.71.
Rigetti’s balance sheet is stronger than ever, thanks to a $350 million equity offering back in June.
That gives the company the firepower to ramp up R&D while using government contracts to help cover costs.
Investors, both retail and institutional, are clearly excited, judging by the spike in trading volume and options activity.
The rally is a sign that people are starting to see quantum computing as more than just a research project, and the sector is quickly becoming among the top picks for new investors.
As one analyst put it, “Rigetti is no longer just a lab experiment, it’s becoming a real business with paying customers and strategic government backing.”
For the quantum sector as a whole, Rigetti’s momentum could be a signal that more investment and adoption are on the horizon.
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