Rigetti Computing Stock Surges Amid Competitor News
On Monday, July 27, 2026, Rigetti Computing (NASDAQ: RGTI) saw its stock rise by approximately 7.7% in early trading hours. The surge was partly attributed to news from rival quantum computing company D-Wave Quantum (NYSE: QBTS), which announced a partnership with AT&T (NYSE: T). Under this collaboration, AT&T will use D-Wave's annealing quantum technology for network optimization tasks such as improving AI agent efficiency and detecting outages. Analysts suggest that AT&T’s openness to evaluating multiple quantum technologies could also benefit Rigetti. In addition to the competitor news, Benchmark analyst David Williams initiated coverage of Rigetti with a 'Buy' rating and set a $25 price target—implying potential for an additional 67% gain. The analyst emphasized that quantum computing is not likely to be dominated by one company alone, suggesting investors should consider diversifying their investments across the sector. Despite these positive developments, most analysts believe it will take five or more years before any quantum computing companies become profitable. While Rigetti may emerge as a leader in this space, expectations for rapid gains remain cautious.
Topics: AT&T partnership Benchmark analyst coverage D-Wave Quantum Rigetti Computing