Why Rigetti Computing (RGTI) is Making Headlines?

​Rigetti Computing, Inc. (NASDAQ:RGTI) is one of the Hot Growth Stocks to Invest in Now. Rigetti Computing, Inc. (NASDAQ:RGTI) has surged by more than 20% since October 13, when JP Morgan announced to invest $1.5 trillion in the United States over the next decade. The list of critical industries mentioned by the bank also included quantum computing, thereby taking the stock to an all-time high.

​The company is making strides in the quantum computing space, as earlier on September 30, Rigetti Computing, Inc. (NASDAQ:RGTI) announced securing purchase orders for two quantum computing systems worth around $5.7 million. As per the company’s press release, the order was for two 9-qubit Novera quantum computing systems. These systems are upgradeable, meaning customers can increase the qubits for more complex research. The delivery of these systems is expected during the first half of 2026.

Overall, Wall Street appears bullish on the stock, as earlier on October 7, David Williams from Benchmark Co. raised the price target on Rigetti Computing, Inc. (NASDAQ:RGTI) from $20 to $50, while reiterating a Buy rating.

​Rigetti Computing, Inc. (NASDAQ:RGTI) develops and operates full-stack quantum computers accessible through its Quantum Cloud Services platform.

While we acknowledge the potential of RGTI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.

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