Benchmark Reaffirms Buy Rating on Rigetti (RGTI) as Quantum Roadmap Strengthens

Rigetti Computing, Inc. (NASDAQ:RGTI) ranks among the best computer hardware stocks to invest in. Benchmark kept its Buy rating on Rigetti Computing, Inc. (NASDAQ:RGTI) and increased its price target from $14 to $20 on August 13. The hike comes after Rigetti’s strong second-quarter earnings plus additional advancements in its scaling approach based on chiplets. By year’s end, the company remains on track to deliver a 100-qubit multi-chiplet QPU with 99.5% two-qubit gate integrity, which is a significant step toward quantum advantage.

Photo by Anton Maksimov juvnsky on Unsplash

Moreover, Rigetti Computing, Inc. (NASDAQ:RGTI) recently unveiled its Cepheus-1 system, which reduced error rates and achieved the fidelity target. This introduction confirms that Rigetti’s design is scalable and is the largest multi-chip quantum processor in the industry.

According to Benchmark, these developments support Rigetti’s plan for a system with 1,000+ qubits, error correction, 99.9% fidelity, and gate speeds below 50 ns, all of which are required to achieve quantum advantage.

Rigetti Computing, Inc. (NASDAQ:RGTI) is a quantum computing company that manufactures and operates quantum computers that are intended to resolve complicated issues faster and more effectively. The company’s scalable, unique multi-chip architecture serves as the foundation for next-generation technologies that aim to transform healthcare, AI, and the climate.

READ NEXT: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds.

Disclosure: None. This article is originally published at Insider Monkey.