Should You Buy Rigetti Computing Stock for Less Than $15?

Adam Spatacco, The Motley Fool

Mon, Jul 7, 2025, 7:30 AM 4 min read

• Quantum computing is a new pillar supporting the artificial intelligence (AI) revolution, and industry analysts expect the technology to add trillions in economic value over the coming decades.

• While its share price of $13 might give the appearance of a cheap stock, Rigetti's valuation multiples are sky-high compared to other leading AI opportunities.

• 10 stocks we like better than Rigetti Computing ›

For the last few years, artificial intelligence (AI) has emerged as a forceful megatrend fueling the stock market to new heights.

Sophisticated chipsets known as graphics processing units (GPUs) represent the foundation on which generative AI applications are being developed. While GPUs remain an integral technology across both hardware and software, a new piece of infrastructure is beginning to emerge as the second layer in the AI pyramid: quantum computing.

While quantum computing is not a widely commercialized product yet, AI companies, both large and small, are swiftly investing in its development. From "Magnificent Seven" members such as Nvidia, Microsoft, Alphabet, and Amazon to lesser-known businesses like IonQ and D-Wave Quantum, there is no shortage of companies looking to get involved in this disruptive technology.

One quantum computing stock that has managed to fetch a lot of attention over the last year is Rigetti Computing (NASDAQ: RGTI). With shares trading for below $15, is now a lucrative opportunity to start buying? Read on to find out.

Given the small scale of quantum computing right now, industry estimates over its total addressable market (TAM) vary considerably. What is more widely accepted is that the power of these computers could bring a new wave of efficiency and discovery in industries such as cybersecurity, financial services, and pharmaceuticals.

According to a study from Statista, quantum computing could create up to $850 billion in economic value creation over the coming decades. Management consulting firm McKinsey & Company is even more bullish, calling for $1.3 trillion in added value by the next decade thanks to quantum computing.

The chart below illustrates' Rigetti Computing's share price dynamics over the last year. Throughout most of 2024, shares of Rigetti were hovering around penny stock levels.

However, toward the end of the year, Rigetti stock started going parabolic. In my eyes, this rapid ascent can be tied to a number of different factors.