Rigetti Computing Shares Rise on Competitor News and Analyst Upgrade
On July 27, 2026, Rigetti Computing (NASDAQ: RGTI) saw its stock rise by approximately 7.7% after a major development involving rival D-Wave Quantum (NYSE: QBTS). AT&T announced it would use D-Wave's quantum computing technology to optimize network operations and improve AI efficiency in managing data traffic and detecting outages. The news indirectly benefited Rigetti, as analysts noted that the market remains open for multiple quantum approaches. Benchmark analyst David Williams initiated coverage of Rigetti with a 'Buy' rating and set a $25 price target—implying potential upside of 67% from current levels. This added momentum to Rigetti's stock. While D-Wave received direct attention, the broader implication is that quantum computing remains in its early stages, with no clear winner yet. Analysts suggest taking a diversified approach by investing across multiple companies in this emerging sector.
Topics: AT&T partnership Benchmark analyst coverage D-Wave Quantum Rigetti Computing