Investors Eye Rigetti Computing and CoreWeave as AI and Quantum Stocks Surge

MENLO PARK, California — Two tech companies, Rigetti Computing and CoreWeave, are gaining attention from investors amid rapidly growing sectors of quantum computing and artificial intelligence (AI). Both firms present high-risk, high-reward opportunities as their stock prices have soared in recent months.

Rigetti’s stock climbed over 970% in the past year, showcasing its position as a pioneer in the quantum computing market. Meanwhile, CoreWeave, which went public in March, has risen approximately 250% since its IPO price of $40.

Rigetti specializes in quantum processing units (QPUs) and offers a cloud platform for quantum solutions. The company has recently expanded its product range, introducing smaller and more affordable quantum systems for commercial use. They aim to launch a 100-qubit system by 2026 and have secured major customers like the Air Force Research Lab and Horizon Quantum Computing.

Despite this growth, Rigetti faces challenges. In 2023 and 2024, its revenue declined by 8% and 10%, respectively, due to a reduction in new research payments. Analysts project that Rigetti’s revenue could grow at an annual rate of 52% between 2024 and 2027, yet its current market cap stands at $3.3 billion, trading at 87 times its estimated 2027 sales.

CoreWeave, once an Ethereum-mining company, repurposed its technology to provide cloud infrastructure for AI. Following significant investment, including a $100 million purchase of Nvidia’s GPUs, the company expanded from three to 33 data centers across the U.S. and Europe. CoreWeave claims it can process AI tasks 35 times faster and at a lower cost than traditional cloud platforms.

Revenue soared from $16 million in 2022 to $1.92 billion in 2024, though its net loss also rose significantly, reaching $863 million. Analysts forecast that CoreWeave’s revenue will grow at an annual rate of 105% from 2024 to 2027, ultimately narrowing its losses.

With a market cap of $67.3 billion, CoreWeave appears better valued than Rigetti, trading at four times its estimated sales for 2027. However, varying financial performance and eventual stock sales by insiders could present risks for investors.

While both stocks have potential, experts suggest caution. Rigetti’s shaky business outlook and CoreWeave’s rapid growth make them interesting choices for investors willing to take risks in the tech market.