Why Rigetti Computing Stock Keeps Going Up
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Yesterday, as you've probably heard, The Wall Street Journal reported on a Trump Administration plan to award $2 billion to nine quantum computing companies -- Rigetti Computing (RGTI +20.87%) among them -- and to take government equity stakes in the companies in return. Rigetti shares started moving one day before the announcement was made, then rocketed higher yesterday -- and higher again today. Up 18% through 10:55 a.m. Friday morning, Rigetti shares have gained an astounding 63% in just three days of trading, and investors are wondering: Is any price too high to pay for this quantum computing stock? Image source: Getty Images. And now it's official Shortly after WSJ broke the story, the U.S. Department of Commerce confirmed that not only does it plan to award grants, but it has in fact already signed letters of intent to do so. Operating under the CHIPS and Science Act, Commerce will "support and accelerate critical research and manufacturing of technologies for the quantum ecosystem to ensure continued United States leadership and national security." Two quantum foundries, Globalfoundries (GFS +7.54%) and International Business Machines (IBM +1.56%), will receive $375 million and $1 billion, respectively. Rigetti and five others will receive $100 million apiece, and the ninth company will receive $38 million. Each of the seven non-foundry recipients will focus on specific technologies needed to build quantum computers. Rigetti in particular will focus on miniaturization and cryostat devices for maintaining extremely low temperatures. ExpandNASDAQ: RGTIRigetti ComputingToday's Change(20.87%) $4.60Current Price$26.64Key Data PointsMarket Cap$7.3BDay's Range$22.67 - $26.7252wk Range$10.30 - $58.15Volume3.6MAvg Vol30.6MGross Margin-5945.49% What does this mean for Rigetti stock? The question now is how much good even this money can do for Rigetti, which is burning more than $80 million a year. Even if Rigetti gets all of the "up to $100 million" it's allotted, this adds only about 15 months to its lifespan. Rigetti's not out of the woods yet.Read NextMay 22, 2026 •By Brett SchaferWhy Quantum Stock Rigetti Computing Shot Up Almost 50% This WeekMay 21, 2026 •By Scott LevineWhy Rigetti Computing Stock Is Rocketing Higher TodayMay 19, 2026 •By Anthony Di PizioPrediction: Rigetti Computing Stock Will Be Worth This Much in 1 YearMay 19, 2026 •By Leo SunPrediction: This Will Be Rigetti Computing's Stock Price in 1 YearMay 19, 2026 •By David Jagielski, CPARigetti Computing Tripled Its Revenue Last Quarter.
Has It Become a Safer Stock to Buy?May 15, 2026 •By Leo SunRigetti Computing vs. IonQ: Which Quantum Computing Stock Has Better Revenue Momentum?About the AuthorRich Smith is a contributing Motley Fool defense and stock market analyst covering publicly traded and emerging companies in defense, space, aerospace, and other sectors. Prior to The Motley Fool, Rich practiced international corporate law for Clifford Chance in Russia, and for the Russian-Ukrainian Legal Group in Moscow, Kyiv, and Washington, D.C. He holds a bachelor’s degree in international relations from the College of William & Mary, a law degree from the University of Baltimore, and a language certification from the International Institute of Russian Language & Culture in Tver, Russian Federation. The Globe and Mail once featured him as “one of the best stock pickers since 2009.”TMFDittyX@RichSmithFoolStocks MentionedRigetti ComputingNASDAQ: RGTI$26.50(+20.24%)+$4.46International Business MachinesNYSE: IBM$257.05(+1.61%)+$4.08GlobalFoundriesNASDAQ: GFS$87.23(+7.23%)+$5.88*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.