Why is Rigetti Computing (RGTI) stock up today?

Rigetti Computing shares climbed 10.53% to $15.64 on July 27, 2026 — moving from a prior close of $14.15 to a session high of $16.12 — as quantum computing stocks broadly surged. The dominant spark came from D-Wave Quantum's announcement of an expanded commercial deal with AT&T, which boosted investor confidence in the near-term commercial viability of quantum computing. Because Rigetti competes in the same sector, the positive signal spilled directly into its shares.

Two additional catalysts reinforced the move. Research firm Benchmark initiated coverage of IonQ, D-Wave (QBTS), and Rigetti with 'Buy' ratings, framing the sector as a 'no-winner-takes-all' opportunity where multiple companies can grow simultaneously. Separately, Barron's published a piece calling quantum stocks at a 'tipping point' and naming Rigetti among the names it considers buys, citing the sector's broadening commercial momentum.

Rigetti also announced today that it is teaming up with Hewlett Packard Enterprise (HPE) and the Pittsburgh Supercomputing Center to build a supercomputer — a concrete partnership that adds to the company's credibility as a hardware and integration partner. Ahead of its Q2 earnings report due August 6, Zacks noted that results will be closely watched to see whether the company's quantum growth story holds up, with the most recent quarter showing revenue of $4.4 million.

The broader market provided little cover for the move — the S&P 500 was essentially flat (+0.02%) and the tech-heavy QQQ index was slightly negative (-0.31%) on the day — meaning Rigetti's 10%-plus gain was driven by company- and sector-specific news rather than a general risk-on tailwind. The quantum computing subsector appears to be trading on its own momentum today, separate from the broader AI and tech tape.