Rigetti Computing, Inc. (NASDAQ:RGTI) faced heavy selling pressure, dropping nearly 10% on Wednesday after disappointing earnings. The company reported a widened net loss of 1,258% and a 20% decline in revenues year-on-year. Despite this, Rigetti projects significant growth, aiming for quantum systems with high fidelity by 2027.

CEO Subodh Kulkarni remains optimistic about Rigetti’s future, citing strong demand for their quantum computers and collaborations advancing R&D. The company’s open architecture allows for innovative solutions, like their AFRL-funded project with QphoX and AFRL for superconducting quantum computer networking.

While RGTI shows potential as an investment, some see greater promise in other AI stocks. For those seeking a cheap AI stock with potential benefits from Trump tariffs and onshoring, explore the report on the best short-term AI stock. Look to Insider Monkey for more stock insights and analysis.

Read more at Yahoo Finance: Rigetti (RGTI) Extends Losses by 9% as Earnings Disappoint