Rigetti stock is up 1,756% in the last year — but 74% overvalued. Investors who did not buy Nvidia stock before GenAI wave, fear missing out on quantum computing.

Rigetti Computing’s shares have surged by over 1,860% in the past six months, thanks to a marketwide uptick in all things quantum. Even so, the company’s quarterly revenue remains modest at $2.4 million in the most recent quarter,

Rigetti offers full-stack quantum-classical computing. RGTI's advancements promise significant growth and reduced error rates. Find out why the stock is a hold.

Rigetti Computing, Inc. (NASDAQ:RGTI – Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $19.02, but opened at $18.54. Rigetti Computing shares last traded at $20.

When investors discuss the artificial intelligence (AI) market, they often focus on GPU makers like Nvidia, generative AI software developers like OpenAI, AI-driven cloud giants like Microsoft, and data center and networking chipmakers like Broadcom.

Rigetti shares have gained some 445% over the past month amid marked strength in quantum computing-related stocks. The company's December release of its 84-qubit Ankaa-3 quantum computer has also captured investor attention.

The stock quickly rallied from $2 to $10, where shares had become overbought from a technical perspective. Buyers returned in full force after a fast and aggressive selloff to $7.50and have now doubled the stock to their current price of $15 in just three trading days.

Defiance Quantum ETF returned 60.4% over the last year through Jan. 3 -- just over double the S&P 500 Index's 28.1% return.

A highly advanced type of computing based upon the principles of quantum mechanics, quantum computing could spark the next tech sector gold rush for investors in 2025. Related: Ve