Why Rigetti Computing (RGTI) is Making Headlines?

​Rigetti Computing, Inc. (NASDAQ:RGTI) is one of the Hot Growth Stocks to Invest in Now. Rigetti Computing, Inc. (NASDAQ:RGTI) has surged by more than 20% since October 13, when JP Morgan announced to invest $1.5 trillion in the United States over the next decade. The list of critical industries mentioned by the bank also included quantum computing, thereby taking the stock to an all-time high.

​The company is making strides in the quantum computing space, as earlier on September 30, Rigetti Computing, Inc. (NASDAQ:RGTI) announced securing purchase orders for two quantum computing systems worth around $5.7 million. As per the company’s press release, the order was for two 9-qubit Novera quantum computing systems. These systems are upgradeable, meaning customers can increase the qubits for more complex research. The delivery of these systems is expected during the first half of 2026.

Overall, Wall Street appears bullish on the stock, as earlier on October 7, David Williams from Benchmark Co. raised the price target on Rigetti Computing, Inc. (NASDAQ:RGTI) from $20 to $50, while reiterating a Buy rating.

​Rigetti Computing, Inc. (NASDAQ:RGTI) develops and operates full-stack quantum computers accessible through its Quantum Cloud Services platform.

While we acknowledge the potential of RGTI to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RGTI and that has 100x upside potential, check out our report about this cheapest AI stock.

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