Rigetti Computing (RGTI) Is Down 11.8% After DARPA Snub And Cepheus Delay Reshape Its Quantum Path - simplywall.st

United States/Semiconductors/NasdaqCM:RGTIRigetti Computing (RGTI) Is Down 11.8% After DARPA Snub And Cepheus Delay Reshape Its Quantum Path January 29, 2026Simply Wall StReviewed by Sasha JovanovicShareCopy Link In recent days, Rigetti Computing has come under pressure after being excluded from a key DARPA quantum benchmarking contract and delaying its 108-qubit Cepheus-1-108Q system to focus on improving error rates and gate fidelity. This setback not only highlights Rigetti’s technology gap versus leading quantum peers but also raises questions about its long-term competitiveness and funding options in a crowded field. With these DARPA and technology challenges in focus, we’ll examine how they reshape Rigetti’s investment narrative and longer-term risk profile. Find companies with promising cash flow potential yet trading below their fair value.AdvertisementWhat Is Rigetti Computing's Investment Narrative?For Rigetti, you really have to believe that its full‑stack, vertically integrated approach can still carve out a place in quantum computing, even as setbacks pile up. The recent exclusion from DARPA’s quantum benchmarking contract and the delay to the 108‑qubit Cepheus‑1‑108Q system go straight to the heart of the short‑term story: technology credibility, access to non‑dilutive funding, and customer confidence. Near‑term catalysts that once centered on rapid system launches and marquee government validation now look more contingent on proving better error rates and gate fidelity, defending existing partnerships, and showing that forecast revenue growth can be converted into a clearer path toward lower cash burn. With the share price already down sharply in recent months, the DARPA miss feels material because it amplifies Rigetti’s key risk: falling behind better funded rivals while still relying heavily on equity issuance. However, there is one funding-related risk here that investors really should not ignore. Despite retreating, Rigetti Computing's shares might still be trading above their fair value and there could be some more downside. Discover how much.Exploring Other PerspectivesRGTI 1-Year Stock Price Chart Forty five Simply Wall St Community fair values for Rigetti span roughly US$0.22 to US$45.21, underlining just how far apart individual expectations sit. Set against the recent DARPA setback and ongoing losses, that spread shows why many market participants are rethinking how quickly Rigetti’s technology and funding story might realistically come together.Explore 45 other fair value estimates on Rigetti Computing - why the stock might be worth over 2x more than the current price!Build Your Own Rigetti Computing NarrativeDisagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.A great starting point for your Rigetti Computing research is our analysis highlighting 2 key rewards and 4 important warning signs that could impact your investment decision.Our free Rigetti Computing research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Rigetti Computing's overall financial health at a glance.Searching For A Fresh Perspective?Our daily scans reveal stocks with breakout potential. Don't miss this chance:AI is about to change healthcare. These 110 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early.The end of cancer? These 29 emerging AI stocks are developing tech that will allow early identification of life changing diseases like cancer and Alzheimer's.These 14 companies survived and thrived after COVID and have the right ingredients to survive Trump's tariffs. Discover why before your portfolio feels the trade war pinch. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.

Simply Wall St has no position in any stocks mentioned.New: AI Stock Screener & AlertsOur new AI Stock Screener scans the market every day to uncover opportunities.• Dividend Powerhouses (3%+ Yield)• Undervalued Small Caps with Insider Buying• High growth Tech and AI CompaniesOr build your own from over 50 metrics.Explore Now for FreeHave feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.comAbout NasdaqCM:RGTIRigetti ComputingThrough its subsidiaries, builds quantum computers and the superconducting quantum processors the United States, the United Kingdom, rest of Europe, Asia, and internationally.See The Free Research ReportExcellent balance sheet with slight risk.See The Free Research ReportSimilar CompaniesNasdaqGS:INTCIntelNasdaqGS:GOOGLAlphabetMarket InsightsHow to invest when commodity prices get messy ⚖️Richard BowmanWhy Didn’t Oil React to Venezuela? 🇻🇪Stella OngWhich Markets Will Sink or Swim in 2026? 🌍Richard BowmanAdvertisementWeekly PicksJolt_Communications on Myseum · 7 days agoThe Future of Social Sharing Is Private and People Are ReadyFair Value:US$7.9575.5% undervalued8 followersusers have followed this narrative·0 commentsusers have commented on this narrative·0 likesusers have liked this narrativeTokyo on ASML Holding · 14 days agoEU#3 - From Philips Management Buyout to Europe’s Biggest CompanyFair Value:€1.31k8.7% undervalued25 followersusers have followed this narrative·1 commentusers have commented on this narrative·9 likesusers have liked this narrativeYIyiannisz on Booking Holdings · 15 days agoBooking Holdings: Why Ground-Level Travel Trends Still Favor the Platform GiantsFair Value:US$5.47k6.9% undervalued6 followersusers have followed this narrative·0 commentsusers have commented on this narrative·3 likesusers have liked this narrativeCOcomposite32 on Shell · 23 days agoA fully integrated LNG business seems to be ignored by the market.Fair Value:UK£36.124.3% undervalued35 followersusers have followed this narrative·0 commentsusers have commented on this narrative·9 likesusers have liked this narrativeRecently Updated NarrativesBLBlackGoat on Tesla · 1 day agoTesla’s Nvidia Moment – The AI & Robotics Inflection PointFair Value:US$588.1826.6% undervalued171 followersusers have followed this narrative·28 commentsusers have commented on this narrative·0 likesusers have liked this narrativeTokyo on LVMH Moët Hennessy - Louis Vuitton Société Européenne · 2 days agoEU#4 - Turning Heritage into the World’s Strongest Luxury EmpireFair Value:€750.0427.6% undervalued1 followerusers have followed this narrative·0 commentsusers have commented on this narrative·0 likesusers have liked this narrativeRERecMag on Proximus · 2 days agoProximus: The State-Backed Backup Plan with 7% Gross Yield and 15% Currency Upside.Fair Value:€17.1356.5% undervalued37 followersusers have followed this narrative·0 commentsusers have commented on this narrative·0 likesusers have liked this narrativePopular NarrativesWEWealthAP on PayPal Holdings · about 1 month agoThe "Sleeping Giant" Stumbles, Then Wakes UpFair Value:US$8234.0% undervalued82 followersusers have followed this narrative·6 commentsusers have commented on this narrative·35 likesusers have liked this narrativeOOOOO97 on Neo Performance Materials · 28 days agoUndervalued Key Player in Magnets/Rare EarthFair Value:CA$25.3321.8% undervalued70 followersusers have followed this narrative·0 commentsusers have commented on this narrative·18 likesusers have liked this narrativeANAnalystConsensusTarget on NVIDIA · about 1 month agoNVDA: Expanding AI Demand Will Drive Major Data Center Investments Through 2026Fair Value:US$253.0224.3% undervalued1042 followersusers have followed this narrative·6 commentsusers have commented on this narrative·31 likesusers have liked this narrativeTrending DiscussionHOHolger on IREN · 6 days agoReported: Revenue growth: 2024 → 2025 sharp increase of approx. 165%. Assuming moderate annual growth of 40%, a fair value in three years would be approx. $170. Given the customer base and the story, this should be possible. I find the most valuable “property” particularly interesting, as it solves the electricity problem.1|0WIwindows96 on Oracle · 7 days ago45x is exactly what NVDA is trading at right now... if the data centre hype comes true, could happen1|0USUser on VeriSign · 1 day agoNot sure why the author wrote a hit piece based upon hearsay but this article is an embarrassment to Simply Wall St. This is an absurd article, the share price valuation is pure fiction and I say this as someone who does NOT like Verisign.