Rigetti Computing (RGTI) stock jumps 10% after 108-qubit system goes live

TLDR

• Rigetti Computing launches its 108-qubit Cepheus-1-108Q, which now runs on Amazon Braket and its own private cloud platform
• The system is the industry’s largest multi-chip modular quantum computer, tripling Rigetti’s previous 36-qubit platform.
• Rigetti plans to invest up to $100 million in the UK to deploy a system with more than 1,000 qubits within 3 to 4 years.
• Benchmark maintained a Buy rating on RGTI; Mizuho still rates its performance as outperforming by over 100%
• RGTI stock went from around $12.90 on March 30 to $16.79 on April 14

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Shares of Rigetti Computing ( RGTI ) rose more than 10% on Tuesday after the company launched general availability of its 108-qubit Cepheus-1-108Q quantum system. The device is now available to customers through Amazon Braket and Rigetti’s private cloud platform.

Rigetti Computing Corporation, RGTI

Cepheus-1-108Q is the largest multi-chip quantum computer in the industry. It triples the number of qubits from the previous 36-qubit Rigetti platform.

The system reported a two-qubit gate accuracy of 99.1%. Rigetti is targeting 99.5% later in 2026, making this a step forward in terms of both scale and accuracy.

Customers can access the system directly through the Rigetti Cloud or via AWS Amazon Brackett. This puts the devices in front of enterprise, government, and research users already operating within the AWS ecosystem.

RGTI rose from around $12.90 on March 30 to $16.79 on April 14. During the day, the stock opened at $15.72 before rising to a high of $16.81.

UK expansion and academic sales

He ignores It also announced plans to invest up to $100 million in the UK to deploy a system with more than 1,000 qubits within 3 to 4 years. The move is in line with the UK Government’s program of up to £2 billion of quantitative financing.

On the academic side, Righetti sold the nine-qubit Novera processing unit to the University of Saskatchewan. This makes Righetti the backbone of the university’s first quantum system, supporting research into materials, algorithms and architecture.

Analysts’ reaction

Benchmark cut the price target on RGTI from $35 to $25 but maintained a Buy rating. After discussion with management, the company said its confidence in Righetti’s technology and strategy has already increased.

Mizuho also lowered its target from $43 to $33, due to increased competition and higher spending. But it maintained an Outperform rating, calling RGTI a quantitative story entering an inflection phase with over 100% of the upside still on the table.

Financially, Righetti is at an early stage. The company reported approximately $7.1 million in annual revenue with very negative margins and EBITDA of approximately -$15.8 million last quarter. It has approximately $443.5 million in cash and short-term investments with minimal debt.

The price-to-sales ratio is over 700, which means the stock is driven by news, roadmaps and sentiment — not earnings.

Year to date, the RGTI is still down 31.69% heading into today’s session, giving context to how sharp the recent rebound from the $13 low has been.

Direct operation of the Cepheus-1-108Q system, accessible through Amazon Braket, is the latest development leading the charge today.