Rigetti Computing (NASDAQ: RGTI) stock posted explosive gains across 2024. The quantum computing company's share price closed out the year's trading up 1,449.4%, according to data from S&P Global Market Intelligence.

Rigetti Computing is at the forefront of the quantum computing industry, but the company has a speculative stock valuation.

Based in Berkeley, California, Rigetti Computing is valued at $2.43 billion and initiated operations in 2013. The stock had an eventful 2024. Shares gained 1,700% and continued their momentum into 2025, gaining 20% in the opening week of the new year.

Rigetti Computing (NASDAQ: RGTI) stock is crashing in this week's trading. The quantum computing company's share price is down 47.2% from last Friday's market close as of Wednesday, according to data from S&P Global Market Intelligence.

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.

CEO Jensen Huang lit the entire quantum computing sector on fire last night after saying the technology won’t be “very useful” for at least 15 years and maybe as many as 30 years. He may as well have poured gasoline on the industry and thrown in a lit match.

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.