Rigetti Expands Hybrid Quantum HPC Push With New NSF Project

Rigetti Computing RGTI announced that it is partnering with Hewlett Packard Enterprise ("HPE") and the Pittsburgh Supercomputing Center ("PSC") to build TangleLab, a hybrid quantum-classical supercomputing testbed backed by a $5 million grant from the National Science Foundation ("NSF"). As part of the initiative, Rigetti will provide its 9-qubit Novera quantum computing system, which will be integrated with a classical high-performance computing (HPC) platform.

The project extends Rigetti's existing collaboration with HPE and is aimed at advancing hybrid quantum-classical computing workflows for research institutions, government organizations and enterprises. Construction of the system is scheduled to begin in September 2026, with full operations expected in 2027.

The latest collaboration further strengthens Rigetti's strategy of embedding its superconducting quantum systems into real-world HPC environments, an area widely viewed as one of the most promising near-term applications for quantum computing.

Beyond supplying quantum hardware, the project gives researchers and educators access to a dedicated hybrid computing platform for developing and benchmarking quantum-classical applications, while reinforcing Rigetti's position in the growing quantum-HPC ecosystem. The announcement also builds on the company's expanding list of strategic collaborations, supporting its broader efforts to accelerate commercial adoption of hybrid quantum computing solutions.

Peers Updates

IonQ's IONQ continues to strengthen its position in the quantum computing market through strategic acquisitions and commercial expansion. The company recently completed the acquisitions of Capella Space and Lightsynq Technologies, broadening its capabilities across quantum networking, secure communications and space-based quantum infrastructure.

IonQ has also secured new government and enterprise partnerships while advancing its roadmap toward large-scale, fault-tolerant quantum systems. These initiatives are expected to enhance its full-stack quantum ecosystem and support long-term commercial adoption.

IBM IBM recently signed a definitive agreement to acquire HRL Laboratories' silicon-spin qubit business, strengthening its long-term quantum computing strategy. The acquisition adds HRL's expertise in silicon-spin qubit engineering to IBM's existing quantum research capabilities, complementing its leadership in superconducting qubit technology.

While IBM remains focused on advancing superconducting quantum systems, the addition of spin-qubit expertise broadens its research portfolio and provides another potential pathway for scaling future quantum computers. The move underscores IBM's commitment to accelerating innovation across multiple quantum hardware architectures as it pursues more powerful and fault-tolerant quantum systems.

Rigetti’s Price Performance, Valuation and Estimates

Shares of RGTI have lost 21.3% in the year-to-date period compared with the industry’s decline of 7.9%.

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From a valuation standpoint, Rigetti trades at a price-to-book ratio of 9.94, above the industry average. RGTI carries a Value Scoreof F.

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The Zacks Consensus Estimate for Rigetti’s 2026 earnings implies a significant 71.9% improvement from the year-ago period.

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The company currently has a Zacks Rank #3 (Hold).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 

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