Why Rigetti Computing Inc. (RGTI) Went Down On Monday?

We recently published a list of Tech Firms Dominate Monday’s 10 Worst Performers. In this article, we are going to take a look at where Rigetti Computing Inc. (NASDAQ:RGTI) stands against other tech firms that dominate Monday’s worst performers.

Wall Street’s main indices kicked off the trading week in the green territory, albeit with minimal gains, as investors stayed on the sidelines while continuing to digest President Donald Trump’s temporary tax reprieve on technology companies.

The S&P 500 recorded the highest gain, up 0.79 percent, while the Dow Jones came second at 0.78 percent. The tech-heavy Nasdaq was also up by 0.64 percent.

Meanwhile, 10 companies, predominantly in the technology sector, bucked a broader market optimism, booking modest declines during the session. In this article, let us explore Monday’s 10 worst performers and the reasons behind their gains.

To come up with the list, we only considered the stocks with $2 billion market capitalization and $5 million trading volume.

Rigetti Computing Inc. (NASDAQ:RGTI)

Rigetti Computing dropped its share prices by 2.64 percent on Monday to end at $8.86 apiece as investors sold off positions in quantum computing companies following China’s move to ban the exports of rare earth minerals.

The move was a devastating blow to various industries given the rare earth minerals critical role in the production of semiconductors, among others. Semiconductors, on the other hand, are a vital component in the creation of quantum computers.

Further dampening sentiment was news of China setting its sights on quantum computing advancements.

Earlier last week, Chinese researchers in Hefei announced a huge breakthrough by using a real quantum computer, called Origin Wukong, to improve a huge artificial intelligence model with 1 billion parameters.

The project was said to be the first in the world that had done such with a real quantum machine.

Origin Wukong is a powerful computer with 72 qubits and is used to improve AI performance by 8.4 percent.

Meanwhile, RGTI is expected to release a 36-qubit system based on four 9-qubit chips by mid-2025.

By the end of the year, it expects to release a system with over 100 qubits with a targeted 2x reduction in error rates from the current level.

Overall, RGTI ranks 8th on our list of tech firms that dominate Monday’s worst performers. While we acknowledge the potential of RGTI as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than RGTI but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.