Rigetti Computing (RGTI) shares are trading higher on Monday as investors position themselves ahead of the company's first-quarter 2026 earnings report, due after the market closes today. Peers like IonQ (IONQ) and D-Wave Quantum (QBTS) also saw significant gains.
Wall Street expects Rigetti to report a loss of 4 cents per share on revenue of $1.47 million. The stock has gained over 13% since last week.
Recent data shows a slight decline in bearish bets: short interest fell from 49.22 million to 48.24 million shares. Currently, 14.59% of the float remains short. With an average daily volume of 29.59 million shares, it would take shorts 1.63 days to cover.
The rally follows Nvidia (NVDA) unveiling a new AI toolset for quantum processors in April, which acted as a sector-wide catalyst. S&P Global 451 Research indicates global quantum investment topped $55 billion in 2025. Analysts noted in an April 16 report that "2026 is triggering change," adding that "deployment and commercial conversations are increasingly supplanting hypotheticals." Rigetti remains a key benefactor of this shift toward enterprise-ready quantum solutions.
Rigetti Computing shares were up 7.26% at $20.32 at the time of publication on Monday.
