Rigetti Computing, Inc.

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Slightly Bullish +25

QBTS or RGTI: Which Quantum Stock is Poised to Lead in H2 2026? - Zacks Investment Research

📉 Both QBTS and RGTI have retreated year-to-date, with QBTS down 16.3% and RGTI declining 16.9%.

🧊 Sentiment in the quantum sector has softened following a scientific debate over Microsoft's topological-qubit research.

💰 D-Wave expects stronger commercial activity in H2 2026 driven by revenue conversion from its backlog.

🚀 Rigetti is focusing on improving Cepheus-1 fidelity and executing the C-DAC contract for Q4 revenue recognition.

☁️ Both companies are expanding cloud offerings and strategic partnerships to support their Advantage platforms.

💵 D-Wave aims to strengthen its position as one of the industry's earliest revenue-generating companies.

📉 Rigetti has experienced downward estimate revisions, though to a lesser extent than QBTS.

🏭 Both firms are targeting quantum advantage through government and enterprise deployments.

Bullish Signals
  • D-Wave expects stronger commercial activity during the second half of 2026 due to large customer contracts.
  • D-Wave is expanding its Advantage2 platform and cloud offerings through recent strategic partnerships.
  • D-Wave maintains a strong cash position to fund its roadmap toward quantum advantage.
  • Rigetti continues to improve system performance with additional Novera deployments scheduled.
  • Rigetti has a C-DAC contract scheduled for fourth-quarter revenue recognition.
  • Both companies are expanding government and enterprise deployments as the industry moves toward quantum advantage.
Risk Factors
  • QBTS is down 16.3% year-to-date, reflecting broader technology selloff concerns.
  • RGTI has declined 16.9% year-to-date following the broader technology market weakness.
  • Sentiment across the quantum sector has softened due to a scientific debate over Microsoft's topological-qubit research.
  • Rigetti has experienced downward estimate revisions regarding its financial outlook.
Full Analysis
D-Wave Quantum (QBTS) and Rigetti Computing (RGTI) are facing investor scrutiny as both stocks have retreated year-to-date, with QBTS down 16.3% and RGTI declining 16.9%. This weakness follows a broader technology selloff and recent sentiment softening in the quantum sector linked to debates surrounding Microsoft's topological-qubit research. For D-Wave, investors are focusing on revenue conversion from its backlog and progress with its Advantage2 platform and cloud offerings. Management expects stronger commercial activity in the second half of 2026, driven by large customer contracts and strategic partnerships that expand its superconducting quantum hardware capabilities. Rigetti Computing is similarly positioned for growth through improvements in Cepheus-1 fidelity and additional Novera deployments. The company aims to execute a C-DAC contract scheduled for fourth-quarter revenue recognition while maintaining a strong cash position to fund its roadmap toward quantum advantage. Analysts are monitoring both companies as they compete for investor attention, with D-Wave potentially strengthening its position as an early revenue-generating leader if commercial adoption accelerates. Rigetti faces downward estimate revisions but remains a key player in the superconducting quantum hardware space.