Why Rigetti Computing Popped Today

Shares of Rigetti Computing (RGTI +7.40%) were moving higher today after the quantum computing company secured $100 million in CHIPS Act funding, along with quantum peer D-Wave Quantum, showing the sector becoming the latest to receive interest from the federal government, which had previously taken stakes in chip stocks like Intel and GlobalFoundries. As of 9:54 a.m. ET, Rigetti Computing stock was up 7.9% after gaining as much as 12.2% earlier in the morning. Image source: Getty Images. Rigetti gets CHIPS Act funding In a press release this morning, Rigetti said that it had signed an agreement with the Department of Commerce for a $100 million award to accelerate R&D to scale and advance superconducting quantum computers. The value of the government's stake is unclear, as the release just said that the Dept. of Commerce will receive a minority, non-controlling equity stake in the company. Rigetti currently has a market cap of around $5 billion, so taking the investment at face value would equal a stake of about 2% for the government. ExpandNASDAQ: RGTIRigetti ComputingPremium FeatureMoneyball Superscore52/100Today's Change(7.40%) $1.13Current Price$16.33Key Data PointsMarket Cap$5.1BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.Day's Range$15.91 - $17.0552wk Range$12.53 - $58.15Volume24.9MAvg Vol24MGross Margin-3975.14% What's next for Rigetti Rigetti is still barely generating revenue, reporting $5.1 million in revenue in the second quarter, and quantum computing remains an emerging technology. Still, the interest from the government is clearly a positive for Rigetti and its peers. While that funding won't make it a viable business, it should help it advance its research and bring it closer to generating meaningful revenue. Still, the stock is speculative until it can get to that point. Read NextSep 7, 2026 •By Robert IzquierdoRigetti Computing CFO Sells 25,000 Shares as the Stock Hovers Near a 52-Week LowSep 6, 2026 •By Chris NeigerWhere Will Rigetti Computing Stock Be in 3 Years?Sep 4, 2026 •By Parkev Tatevosian, CFARigetti Computing Stock: Time to Buy This Quantum Computing Stock?Sep 3, 2026 •By Rick OrfordRigetti's Massive $100M Quantum Opportunity Comes With a Critical CatchAug 24, 2026 •By Robert IzquierdoD-Wave Quantum vs. Rigetti Computing: Which Quantum Computing Stock Is a Better Investment in 2026?Aug 23, 2026 •By Robert IzquierdoRigetti Computing's COO Sells Over 9,000 Company Shares.

What Does That Mean for Investors?About the AuthorJeremy Bowman has been a contributing Motley Fool stock market analyst, covering technology, consumer goods, and macroeconomic trends since 2011.

Before The Motley Fool, Jeremy was a newspaper reporter, restaurant manager, and English teacher abroad. He holds a bachelor’s degree in English from Colorado College and a master’s degree in business administration from American University. One of his Motley Fool headlines was briefly featured on Late Night with Stephen Colbert.TMFHoboX@TMFBowmanStocks MentionedRigetti ComputingNASDAQ: RGTI$16.32(+7.34%)+$1.12Motley Fool Stock Advisor’s Latest PickGet Access---% Avg ReturnIntelNASDAQ: INTC$104.55(+9.13%)+$8.75GlobalfoundriesNASDAQ: GFS$46.51(+2.86%)+$1.30D-Wave QuantumNASDAQ: QBTS$18.36(+10.74%)+$1.78*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.