Rigetti Computing (RGTI) stock has soared over 11% on Wednesday, one of the best-performing quantum and overall tech stocks on the market. NVIDIA (NVDA) has announced it is launching new models to support quantum development, a move that spurred the quantum stock market higher. QCOM and IONQ are also up, with IONQ surging over 18% on the day.

After Tuesday’s market close, Nvidia published a press release announcing that it was launching the first suite of open source quantum artificial intelligence (AI) models with the goal of helping researchers and businesses build quantum processors that can run useful applications. The stock had previously closed at $16.87, but opened at $17.88 on Wednesday. At press time, RGTI is trading at $18.72.

Additionally, Rigetti Computing (RGTI) reported advancements in its technology and secured notable government contracts. Rigetti launched its 108-qubit Cepheus-1-108Q system, showcasing advancements in quantum fidelity and gate speeds, enhancing its competitive position in the sector.

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RGTI is trading near the bottom of its 52-week range and below its 200-day simple moving average. Rigetti stock is down roughly 13% across 2026’s trading, and is also down roughly 66% from its lifetime high. Hence, some investors see the strong climb today as a bullish flag.

Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating, and one has assigned a Sell rating to the company, according to data from MarketBeat.com. The company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.70.