Rigetti Stock Hits Record High. The Move Is Lifting Quantum Players Like D-Wave and IonQ.

Rigetti Computing said it had secured purchase orders for two quantum-computing systems totaling $5.7 million. (Drew Bird Photography / Rigetti Computing)

Key Points

• Rigetti Computing secured purchase orders for two Novera quantum computing systems, totaling $5.7 million.
• Rigetti Computing’s stock reaches a record intraday high.
• Other quantum computing companies like D-Wave Quantum, IonQ, and Quantum Computing also see gains.

Rigetti Computing stock extended its rally on Thursday, climbing to a record intraday high.

Shares have gained for the past three days, starting on Sept. 30, when the company said it had secured purchase orders for two Novera quantum computing systems. There’s more on the line than just the $5.7 million price tag: For a company whose identity is rooted in research and development, it’s a promising sign that the technology is gradually making its way out of the lab.

While Rigetti declined to name the buyers, they’re implied to be commercial clients. One system is being purchased by an Asian technology manufacturing company, while the other is going to an applied physics and artificial-intelligence start-up based in California. Delivery for both systems is expected in the first half of 2026, Rigetti said.

The enthusiasm for stocks in the quantum space has showed no signs of letting up. Rigetti shares touched an intraday record high of $35.81 on Thursday. At last check, the stock was up nearly 15% at $34.20, putting it on pace for a record closing level, according to Dow Jones Market Data. Rigetti has gained 124% this year and more than 4,470% over the past 12 months.

Shares of fellow quantum-computing companies also rose Thursdasy, with D-Wave Quantum , IonQ , and Quantum Computing gaining 12%, 7.5%, and 6.2%, respectively. The benchmark S&P 500 was flat.

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com