Rigetti Computing Inc Stock Price, News & Analysis

Rigetti Computing (RGTI) has been selected to participate in DARPA's Quantum Benchmarking Initiative (QBI), a program aimed at verifying if quantum computing can achieve utility-scale operation by 2033. The company will advance to Stage A, a 6-month performance period worth up to $1 million upon completion.

Rigetti's concept for a Utility-Scale Quantum Computer (USQC) combines their proprietary multi-chip architecture with scalable quantum error correction (QEC) codes. The company will collaborate with Riverlane, leveraging Quantum Low Density Parity Check (qLDPC) codes for more efficient scaling towards fault-tolerant systems.

The company's current achievements include:

• Deployment of 84-qubit Ankaa-3 system with 99.0% ISWAP gate fidelity
• Development of Alternating Bias Assisted Annealing (ABAA) chip fabrication technique
• Implementation of innovative multi-chip architecture technology

Rigetti Computing (RGTI) reported Q4 and full-year 2024 financial results. Q4 revenues were $2.3 million with operating expenses of $19.5 million and a net loss of $153.0 million. Full-year 2024 saw revenues of $10.8 million with operating expenses of $74.2 million and a net loss of $201.0 million.

Key developments include a strategic collaboration with Quanta Computer, involving $100 million investments from each party over five years, plus Quanta's additional $35 million stock purchase. The company launched its 84-qubit Ankaa-3 system achieving 99.0% median iSWAP gate fidelity and 99.5% median fidelity with fSim gates. Montana State University became the first academic institution to purchase a Novera QPU.

As of December 31, 2024, cash and equivalents totaled $217.2 million, bolstered by $153.3 million in net proceeds from stock sales.

Rigetti Computing (Nasdaq: RGTI), a pioneer in full-stack quantum-classical computing, has announced its participation in the upcoming Cantor Global Technology Conference. The company's CEO, Dr. Subodh Kulkarni, will engage in a fireside chat scheduled for March 12, 2025, from 8:40 AM to 9:15 AM ET.

Investors can access the live webcast through the 'Events' section on Rigetti's Investor Relations website. The presentation will remain available for replay for 180 days after the event concludes.

Rigetti Computing (RGTI) has announced a strategic collaboration with Quanta Computer to accelerate development and commercialization of superconducting quantum computing. Both companies will invest over $100 million each over the next five years, focusing on their complementary strengths. Additionally, Quanta will invest $35 million to purchase Rigetti shares, pending regulatory approval.

The quantum computing market is expected to reach $1-2 billion annually by 2030. The partnership leverages Rigetti's pioneering position in superconducting quantum technology and open modular architecture, combined with Quanta's expertise as a leading notebook/server manufacturer with $43 billion in annual sales.

Rigetti Computing (NASDAQ: RGTI), a pioneer in hybrid quantum-classical computing, has announced it will release its fourth quarter 2024 financial results on March 5, 2025, after market close. The company will host a conference call at 5:00 p.m. ET / 2:00 p.m. PT on the same day to discuss financial results and provide business updates.

Investors and interested parties can access the live audio webcast through the company's investor relations website. A replay will be available for one year following the call. To participate in the live call, registration is required through the provided link, which will supply dial-in numbers and a unique PIN for access.

QphoX, Rigetti Computing (Nasdaq: RGTI), and Qblox announced the publication of their joint research in Nature Physics, demonstrating successful optical readout of superconducting qubits using an optical transducer. The research addresses a critical challenge in quantum computing scalability.

The breakthrough involves converting microwave signals used to control qubits into infrared light that can be transmitted through fiber optics. This solution could overcome current limitations of dilution refrigerators, which cannot accommodate the extensive wiring needed for fault-tolerant quantum computers requiring 10,000 to a million physical qubits.

Using QphoX's piezo-optomechanical technology, the team successfully demonstrated that their transducer can convert qubit readout signals while protecting the qubit from decoherence caused by thermal noise or stray optical photons. This development represents a significant step toward more efficient and scalable quantum computing systems.

Rigetti Computing (Nasdaq: RGTI), a pioneer in full-stack quantum-classical computing, has announced that CEO Dr. Subodh Kulkarni will participate in a fireside chat at the 27th Annual Needham Growth Conference. The event is scheduled for Tuesday, January 14, 2025, from 11:45 AM to 12:25 PM ET (8:45-9:25 AM PT).

Investors can access the live webcast through the 'Events' section of Rigetti's Investor Relations website. A replay of the presentation will remain available for 180 days after the event concludes.

Rigetti Computing (NASDAQ: RGTI) has launched its new 84-qubit Ankaa-3 quantum computer, achieving a significant 99.5% median two-qubit gate fidelity. The system features comprehensive hardware improvements, including a new cryogenic design, redesigned qubit circuit layout, and precise qubit frequency targeting using Alternating-Bias Assisted Annealing (ABAA).

The Ankaa-3 will be available via Rigetti Quantum Cloud Services and will launch on Amazon Braket and Microsoft Azure in Q1 2025. The system operates with median gate times of 72 nanoseconds for iSWAP gates and 56 nanoseconds for fSim gates. With approximately $225 million in cash and investments, Rigetti plans to release a 36-qubit system by mid-2025 and a 100+ qubit system by end-2025, both targeting 2x reduction in error rates.

Quantum Machines and Rigetti Computing (RGTI) have announced successful AI-powered automated calibration of a quantum computer. The achievement was part of the 'AI for Quantum Calibration Challenge' at the Israeli Quantum Computing Center, where two companies, Quantum Elements and Qruise, calibrated a 9-qubit Rigetti Novera™ QPU integrated with Quantum Machines' OPX1000 control system.

Quantum Elements achieved 99.9% single-qubit gate fidelity and 98.5% two-qubit gate fidelity, while Qruise successfully fine-tuned all nine qubits simultaneously. The breakthrough addresses a major bottleneck in quantum computing scaling, as traditional manual calibration by quantum physicists becomes impractical with larger systems. Both companies have joined the Novera QPU Partner Program, expanding the ecosystem of quantum computing technology providers.