Rigetti Computing Secures $5.7 Million Quantum System Order

Rigetti Computing (NASDAQ: RGTI) has reported a $5.7 million agreement to sell two 9-qubit Novera quantum computing systems. The buyers include an Asian technology manufacturer and a California-based startup specializing in applied physics and artificial intelligence. The sale marks a pivotal moment for the full-stack quantum computing pioneer. Over the previous 12 months, Rigetti's total sales amounted to $7.9 million, meaning this single transaction accounts for approximately 72% of the company's annual revenue stream. Despite the revenue jump, the company faces a steep valuation. With a market capitalization exceeding $10.9 billion, Rigetti is currently trading at more than 1,300 times its sales and remains unprofitable. The systems are scheduled for delivery in the first half of 2026. This timeline suggests a strong revenue start for the 2026 fiscal year, potentially positioning the company to double its annual sales or better. Shares of RGTI responded positively to the news, climbing for three consecutive sessions and jumping 11.5% in recent trading, despite broader investor uncertainty regarding U.S. government shutdowns.