Rigetti Advances Toward Quantum Advantage With Cepheus Push

Rigetti Computing RGTI is strengthening its position in the quantum computing race through a combination of technological advancements and expanding customer adoption. During the first quarter of 2026, the company made its 108-qubit Cepheus-1-108Q system generally available through Rigetti Quantum Cloud Services, Amazon Braket, Microsoft Azure Quantum and qBraid. Management believes the platform is among the world’s most powerful gate-based quantum computers and the largest modular quantum computing system currently on the market.Built using 12 interconnected 9-qubit chiplets, the system validates Rigetti’s chiplet-based scaling architecture, a key element of its long-term roadmap toward larger and more capable quantum systems. The company also highlighted continued progress in improving gate fidelity and performance, with management targeting approximately 99.5% median two-qubit gate fidelity later in 2026 while maintaining its speed advantages.Beyond technology milestones, Rigetti continues to gain customer traction across both cloud and on-premises deployments. First-quarter revenues nearly tripled year over year to $4.4 million, primarily driven by deliveries of Novera quantum processing units (QPUs) and related contracts. The company continues to expand its installed base through sales to universities, research institutions and national laboratories. It is also reporting growing interest from commercial customers in industries such as materials science, logistics and financial services.Importantly, management reiterated its belief that Rigetti can achieve quantum advantage within roughly three years, targeting a system with around 1,000 qubits, 99.9% two-qubit gate fidelity and integrated error mitigation capabilities. Backed by approximately $569 million in cash and no debt, Rigetti is well positioned to continue investing aggressively in scaling its technology platform and capitalizing on emerging opportunities in the rapidly evolving quantum computing market.Peers UpdatesIonQ IONQ recently opened a new 22,000-square-foot quantum computing R&D laboratory and semiconductor chip testing facility in Boulder, CO, to support the development of future generations of its trapped-ion quantum computing systems. The facility will enable the company to design, test and refine advanced semiconductor ion-trap chips, with plans to install its first quantum computer later this year. By expanding its presence in Colorado's growing quantum technology ecosystem and leveraging the region's deep-tech talent pool, IONQ aims to accelerate innovation, scale production capabilities and advance its roadmap toward fault-tolerant quantum computing.D-Wave Quantum QBTS recently announced that it has entered into a non-binding Letter of Intent with the U.S. Department of Commerce for proposed funding of up to $100 million under the CHIPS and Science Act. The initiative aims to support the advancement and large-scale deployment of the company’s annealing and gate-model quantum computing technologies. As part of the proposed arrangement, the U.S. government would receive a $100 million equity stake in D-Wave.The funding is expected to help expand quantum system development at D-Wave’s planned facility in Boca Raton, FL, as well as its existing research and development operations. The investment could accelerate the commercialization of next-generation quantum platforms, including a 100,000-qubit annealing system and a 10,000-qubit gate-model computer. It could also enhance D-Wave’s competitive standing in the rapidly evolving quantum computing market and support U.S. leadership in critical advanced technologies.Rigetti Computing’s Price Performance, Valuation and EstimatesShares of RGTI have lost 1.8% in the year-to-date period compared with the industry’s decline of 11%.Image Source: Zacks Investment ResearchFrom a valuation standpoint, Rigetti trades at a price-to-book ratio of 12.39, above the industry average. RGTI carries a Value Score of F.Image Source: Zacks Investment ResearchThe Zacks Consensus Estimate for Rigetti’s 2026 earnings implies a significant 70.3% improvement from the year-ago period.The company currently has a Zacks Rank #4 (Sell).Image Source: Zacks Investment ResearchYou can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum Stocks Now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks