U.S. Government's Choice for Quantum Computing Stocks: Betting Up to $100 Million

Quantum computing provider Rigetti Computing, Inc. (RGTI) has signed a non-binding letter of intent with the U.S. Department of Commerce under the CHIPS R&D program to explore up to $100 million (approximately KRW 130 billion) in research and development funding over three years. In return, the Department of Commerce is discussing acquiring an equity stake in Rigetti commensurate with its investment. (rigetticomputing.gcs-web.com)

Between June 2 and 3, and again on June 12 and 15, insider Michael S. Clifton sequentially sold Rigetti warrants exercisable at $11.50 per share, effectively liquidating his entire derivative position. Total proceeds amounted to several million dollars—equivalent to tens of billions of Korean won. As a result, Clifton no longer holds any warrants, and his direct common-stock holdings linked to those warrants are now virtually nil according to SEC filings.

In its Q1 2026 financial results announced May 11, Rigetti emphasized its debt-free status and strong cash position, while opening its 108-qubit multi-chip quantum system, “Cepheus-1-108Q,” to general customers via cloud channels such as Amazon Braket and Microsoft Azure Quantum. (globenewswire.com) News of pursuing Commerce Department CHIPS funding at the end of May sent Rigetti’s stock price soaring in a short span, triggering volatile trading amid optimism over quantum-computing policy support. (stockstotrade.com)

Headquartered in Berkeley, California, Rigetti develops superconducting quantum-integrated-circuit–based quantum computers. Since its founding in 2013, the company has offered cloud-accessible quantum-computing services and went public on Nasdaq via a SPAC merger in 2022. (en.wikipedia.org) As quantum computing remains in its early commercialization phase—requiring massive R&D investment and government backing—U.S. CHIPS Act funding and competition with rivals like IBM and D-Wave are viewed as critical factors that will shape the market’s future. (businesswire.com)