Alliance Global Partners analyst Brian Kinstlinger has reaffirmed a Buy rating on Rigetti Computing as the quantum computing sector extends a notable recovery rally, with RGTI shares climbing more than 1.85 percent on Friday April 17 amid broader enthusiasm triggered by Nvidia’s introduction of its new Ising AI model earlier in the week.
The Nvidia development, which launched an AI-powered workflow designed to address quantum error correction — one of the field’s most stubborn technical barriers — sparked four consecutive days of gains across the quantum sector, with Rigetti posting a single-session surge of 13.28 percent to $19.11 on Wednesday before consolidating through the end of the week.
The Ising model is not a quantum computing product itself but rather a tool for automating the calibration and decoding processes that sit at the heart of why quantum computers currently produce unreliable outputs at scale. Analysts interpreted Nvidia’s involvement as a validation of the sector’s commercial relevance, countering earlier narratives suggesting practical quantum advantage remained decades away.
Rigetti’s own news flow has also been constructive. The company announced the general availability of its Cepheus-1-108Q system, currently its highest qubit-count hardware, on both its own Quantum Cloud Services platform and Amazon Braket. The system, built on a chiplet-based architecture using twelve interconnected 9-qubit modules, represents the industry’s largest modular quantum computing system according to the company.
The stock remains more than 66 percent below its 52-week high of $58.15, and its fundamental picture is stark. Full-year 2025 revenue came in at $7.1 million — down 56 percent year on year — against a market cap that was around $4.7 billion as recently as early April. The Q4 quarterly revenue figure was $1.9 million. Cash stands at approximately $589.8 million, providing three to four years of runway at current burn rates.
The consensus analyst price target across eight covering analysts is approximately $33.50, implying significant upside from current levels but also reflecting the deep uncertainty inherent in a sector where Rigetti’s entire commercial thesis depends on regulatory progress, hardware milestones and customer adoption timelines that remain genuinely uncertain.
