Rigetti Computing stock rises on CHIPS Act funding

Published on 09/23/2026 at 08:04 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Rigetti Computing stock gained 4.89 percent to USD 16.53 on September 21, 2026. B. Riley kept a USD 35 target on September 22.

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Rigetti Computing, Inc. (US7735991054) closed at USD 16.53 on Nasdaq on September 21, 2026, up 4.89 percent from the prior close. The move followed news that the quantum-computing company secured access to up to USD 100 million in CHIPS Act funding.

Funding strengthens the catalyst

According to Mitrade on September 23, 2026, Rigetti signed a definitive agreement with the U.S. Department of Commerce for up to USD 100 million under the CHIPS Act. The funding is intended to accelerate research and development in superconducting quantum computing, giving the company a larger financial base for its technology program.

The funding is material relative to the company valuation shown in the latest market snapshot. Market capitalization stood at USD 5.52 billion, while trading volume reached 15.92 million shares on September 21, 2026. The grant improves financing visibility, but it does not by itself demonstrate commercial-scale revenue.

Analyst target stays above price

The Globe and Mail reported on September 22, 2026, that B. Riley Securities reiterated a Buy rating and a USD 35 price target for Rigetti. The target is USD 18.47 above the September 21 closing price of USD 16.53, a quantified gap of 111.7 percent relative to that close.

The broader analyst picture is less uniform. The same September 22 report put the average consensus target at USD 29.50 with a Moderate Buy consensus, while Zacks highlighted a 25.4 percent year-to-date decline and assigned a Zacks Rank of Strong Sell on September 22, 2026. That contrast places execution and valuation alongside government funding in the current investment case.

Stock remains highly volatile

Rigetti traded between USD 12.53 and USD 58.15 over the 52-week period ending September 21, 2026. The closing price was therefore USD 4.00 above the period low and USD 41.62 below the period high, illustrating the wide range in which the market has valued the company.

Rigetti Computing stock closed at USD 16.53 on Nasdaq on September 21, 2026, with a daily gain of 4.89 percent. Market capitalization was USD 5.52 billion and volume was 15.92 million shares as of the same date.