Forget Rigetti Computing: This Quantum Computing Stock Is a Much Better Buy Right Now

The piece compares quantum-computing pure plays Rigetti (RGTI) and D-Wave (QBTS), noting Rigetti’s explosive historical share gains and strategic partnerships with the U.S. Air Force but recent revenue weakness (Q3 revenue down ~18% YoY to ~$1.95m; first nine months $5.22m vs $8.52m a year ago). By contrast D-Wave’s quantum-annealing approach is showing much stronger commercialization traction (Q3 sales $3.7m; first nine months $15.3m, growth of ~100% and 235%, respectively), leading the author to conclude D-Wave is the more attractive near-term buy while Rigetti remains a higher-risk, longer‑horizon speculative upside if its technology breakthroughs pay off; overall the sector is nascent and revenue growth will likely remain uneven.

Analysis

The article contrasts two pure-play quantum computing companies and quantifies performance differences: Rigetti Computing's share price appreciated roughly 300% over the past year and about 2,540% over three years and it has secured partnerships with the U.S. Air Force and other defense players, yet Rigetti's third-quarter revenue fell ~18% year-over-year to about $1.95 million and its first-nine-month sales totaled $5.22 million versus $8.52 million a year earlier. These figures show strong market enthusiasm for the equity story but weakening near-term commercialization results.

D-Wave Quantum's quantum-annealing approach is delivering materially stronger top-line traction, with Q3 sales of $3.7 million and first-nine-month revenue of $15.3 million, representing roughly 100% and 235% growth respectively; the author treats these gains as meaningful indicators of a faster commercialization ramp. The differential reflects two risk profiles: D-Wave is positioned for nearer-term revenue growth while Rigetti remains a higher-risk, longer-horizon speculative play.

Because the quantum sector is nascent and revenue growth will likely be uneven, investors should focus on observable commercialization metrics and contract conversions; Rigetti's partnerships are credible but to date have not translated into sustained sales growth, whereas D-Wave's recent results reduce execution uncertainty though technology risk persists.

Key Decisions for Investors

• Consider allocating nearer-term, larger exposure to D-Wave (QBTS) given its Q3 sales of $3.7M and YTD revenue growth of ~235%, which imply stronger commercialization momentum
• If taking a position in Rigetti (RGTI), limit it to a small, speculative allocation because revenue declined 18% in Q3 to ~$1.95M despite high-profile defense partnerships
• Monitor quarterly revenue trends, partnership-to-revenue conversions, and announced commercialization wins as triggers to increase or reduce positions, and reassess if Rigetti's sales stabilize or D-Wave's growth decelerates