Rigetti Stock Plummets 9.24% to $8.99, Nvidia Quantum Day Fails to Ignite Optimism

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Market Sentiment Drives Rigetti Stock Down 9.24%

Rigetti Computing found its stock price plummeting by 9.24% on Thursday, closing at $8.99, a continuation of its recent downward momentum. This trend persisted into Friday’s pre-market trading, with shares shedding an additional 4.34%.

While 2024 saw Rigetti’s stock surge by an astonishing 1,450%, fueled by the burgeoning optimism surrounding quantum technology, 2025 has presented a starkly different narrative. Earlier this year, Nvidia’s CEO, Jensen Huang, offered a candid assessment of quantum computing’s timeline. His assertion that it would take two decades for quantum computing to be usable for practical applications triggered a wave of investor pessimism, particularly impacting companies like Rigetti, whose valuations are heavily reliant on the technology’s future potential.

Although Nvidia’s Quantum Day event, which took place on Thursday, witnessed Huang publicly retracting his earlier statements and acknowledging that his timeline estimations may have been premature, investors stayed pessimistic about Rigetti’s potential. This served to exert pressure on the stock’s already poor performance.

Rigetti’s recent financial disclosures have further compounded investor concerns. The company’s fourth-quarter results revealed that its net loss had reached $153 million, a stark contrast to the $12.6 million loss reported in the same period last year. Additionally, revenue figures fell short of expectations, registering a year-over-year decline of over 32%, settling at $2.3 million. These financial indicators have raised questions about Rigetti’s ability to navigate the challenging financial landscape of early-stage technology development.

As for the broader quantum computing sphere, during the Thursday event, Huang made it clear that Nvidia was now investing in Quantum technology with the Nvidia Accelerated Quantum Research Center (NVAQC). He added that he saw quantum computing as a complementary technology to traditional computing. Huang also suggested that quantum computers might be better understood as specialized scientific instruments rather than general-purpose computers. This reframing, he argued, could help manage expectations and foster a more productive dialogue about the technology’s potential.