"The issue is what it costs to wait. Q1 net loss widened to $217.7 million, cash burn runs near $189 million per quarter, and the beta of 3.13 means any FAA delay hits harder than the index. Shares are down 41.6% over the past year. The thesis is binary on certification timing, and the risk/reward profile does not improve before the next clear milestone."
"Rigetti is the cleanest quantum pure-play available. Q1 revenue nearly tripled to $4.40 million, the 108-qubit Cepheus-1 system went live across AWS Braket, Azure Quantum, and Rigetti's own QCS, and median 99.8% two-qubit gate fidelity closes the gap with larger rivals. The balance sheet is strong at $569 million in cash and investments with no debt. Shares are up 86.7% over the past year."
"All three share a profile: pre-profit, high beta, and narrative-driven. Archer is racing toward FAA certification of its Midnight eVTOL air taxi. Rigetti builds superconducting quantum processors. SoundHound runs voice AI across automotive, restaurants, and enterprise. Each has rallied roughly 20% over the past month while the broader market consolidated, returning roughly 3%."
Archer Aviation, Rigetti Computing, and SoundHound AI are speculative, pre-profit, high-beta, narrative-driven companies that have rallied about 20% over the past month while the broader market consolidated. Archer is progressing toward FAA certification for its Midnight eVTOL air taxi, completing Phase 3 of FAA Type Certification, receiving 100% acceptance of 797 Means of Compliance, and obtaining LA28 Olympic air taxi designation, but it faces heavy cash burn and a binary risk tied to certification timing. Rigetti is a quantum pure-play with rising revenue, a 108-qubit Cepheus-1 system deployed across major quantum platforms, and strong cash with no debt, while operating losses persist. SoundHound’s voice AI adoption supports the bullish setup, but profitability remains uncertain.
Read at 24/7 Wall St.
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