Why Rigetti Computing Stock Is Skyrocketing Today
Summarize this article with:
Rigetti Computing (RGTI +18.67%) stock is seeing another round of huge gains in Friday's trading. The quantum computing company's share price was up 22.8% as of 1 p.m. ET. The S&P 500 and the Nasdaq Composite were each up 0.4% at the same point in the daily session. Rigetti stock had been up as much as 26.4% earlier in the day. Along with bullish momentum for the broader market today, Rigetti Computing's valuation is getting another boost from yesterday's news that some leading quantum-computing dare set to receive funding through the U.S. CHIPS and Science Act. As of this writing, Rigetti Computing is now up roughly 19% in 2026. Image source: Getty Images. CHIPS Act funding has been a bullish catalyst for Rigetti In a press release published yesterday, Rigetti announced that it had signed a letter of intent with the U.S. Department of Commerce to secure an investment of up to $100 million. The funding will be used to accelerate the company's development of quantum technologies and is on track to be dispersed over three years. In exchange for the funding, Rigetti will sell new shares of its stock to the Department of Commerce. ExpandNASDAQ: RGTIRigetti ComputingToday's Change(18.67%) $4.12Current Price$26.16Key Data PointsMarket Cap$7.3BDay's Range$22.67 - $27.7952wk Range$10.30 - $58.15Volume5.8MAvg Vol30.6MGross Margin-5945.49% What's next for Rigetti? In a note published this morning, TD Cowen stated that it viewed Rigetti as one of the three biggest beneficiaries of the U.S. Department of Commerce's investments in quantum computing. The other two companies on its list were D-Wave Quantum and GlobalFoundries. TD Cowen's analysts said that the Department of Commerce's investment moves "underscore the strategic value" of the quantum computing industry. With Rigetti and other quantum-computing players receiving another significant vote of confidence from the U.S. government, the industry's growth opportunities could continue becoming increasingly legitimate and attractive in the eyes of investors. Read NextMay 22, 2026 •By Brett SchaferWhy Quantum Stock Rigetti Computing Shot Up Almost 50% This WeekMay 22, 2026 •By Rich SmithWhy Rigetti Computing Stock Keeps Going UpMay 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?About the AuthorKeith Noonan is a contributing writer at The Motley Fool covering technology, consumer goods, and other sectors. He holds a bachelor’s degree in English from Boston College.TMFNoonsStocks MentionedRigetti ComputingNASDAQ: RGTI$26.16(+18.69%)+$4.12GlobalFoundriesNASDAQ: GFS$86.67(+6.54%)+$5.32D-Wave QuantumNYSE: QBTS$29.06(+12.90%)+$3.32*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.