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Rigetti Computing Secures $8.4M Quantum Contract in India, Analyst Upgrades to Buy

Rigetti Computing Secures $8.4M Quantum Contract in India, Analyst Upgrades to Buy

Author:

Global Cryptocurrency

Published:

2026-01-23 12:41:02

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BTCCSquare news:

B.Riley upgraded Rigetti Computing (NASDAQ:RGTI) from Neutral to Buy, maintaining a $35 price target after the quantum computing firm secured an $8.4 million order from India’s C-DAC. The contract, representing 36-48% of consensus 2025 revenue estimates, involves delivering a 108-qubit system by late 2026.

The deal significantly boosts revenue visibility for a company that reported just $7.49 million in trailing twelve-month sales. Rigetti shares currently trade around $23.67, implying 46% upside to B.Riley’s target. The launch of its Cepheus-1-108Q system was delayed to Q1 2026 for additional testing.

Quantum computing continues gaining traction globally, with India’s investment signaling growing institutional adoption. The Bengaluru deployment could serve as a strategic beachhead for Rigetti in Asia’s expanding tech ecosystem.

By:

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