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Rigetti Computing, Inc. (RGTI) is a pioneer in the development of full-stack quantum computing systems. Based in Berkeley, California, Rigetti combines leading-edge quantum processors with classical computing infrastructure to solve complex computational challenges. The company was founded with the goal of making quantum computing accessible and practical for a range of applications, from scientific research to enterprise solutions.
Rigetti's proprietary quantum-classical infrastructure offers ultra-low latency integration with both public and private cloud environments, enabling high-performance quantum computing solutions. The company's innovative multi-chip quantum processor is a significant step towards scalable quantum computing systems.
Recently, Rigetti has been actively involved in several groundbreaking projects and partnerships. Their latest 24-qubit system, based on the fourth-generation Ankaa™-class architecture, features tunable couplers and a square lattice, promising faster gate times and higher fidelity. This system will soon be available for testing and development by researchers at the National Quantum Computing Centre (NQCC).
In terms of financial health, Rigetti derives the majority of its revenue from the United States. The company has also been recognized for its contributions to the quantum computing field, having been awarded a contract for developing a quantum computer for the UK government’s Innovate UK SBRI program.
Rigetti's Quantum Cloud Services (QCS™) platform, launched in 2017, has made quantum computing accessible over the cloud, serving global enterprise, government, and research clients. With its in-house chip manufacturing at Fab-1, the first dedicated quantum device manufacturing facility, Rigetti maintains strict quality control and continuous innovation.
Other notable achievements include collaborations with Riverlane and Oak Ridge National Laboratory (ORNL) to integrate quantum computing with high-performance computing (HPC) environments, further demonstrating Rigetti's commitment to advancing quantum technology. Additionally, the company's Novera QPU, a 9-qubit quantum processing unit, is gaining traction among government labs and quantum researchers for on-premises deployment.
As the quantum computing industry continues to evolve, Rigetti remains at the forefront, pushing the boundaries of what is possible and driving the adoption of this transformative technology across various sectors.
Rigetti Computing will host its inaugural Investor Day on September 16, 2022, from 8:30 a.m. to 11:00 a.m. PT. During this hybrid event, members of the leadership team will discuss Rigetti's technology roadmap, strategic planning, and key business initiatives. Attendees can expect insights into the company's quantum computing hardware, software, and go-to-market strategy. Virtual participation is available for individual investors and the media. The event aims to enhance understanding of Rigetti's unique approach in the quantum computing space.
Rigetti Computing (RGTI) announced its inaugural Investor Day on September 16, 2022, from 8:30 a.m. to 11:00 a.m. PT. The hybrid event will feature presentations and Q&A sessions focused on Rigetti's technology roadmap, strategic planning, and business initiatives. Attendees can join in person at the Fab-1 facility or virtually via webcast. Registration for virtual participation is available online, with a replay set to be accessible post-event. Additionally, the company will comply with California's COVID-19 attendance guidelines.
Rigetti Computing (RGTI) announced its investor conference schedule for August and September 2022. The founder and CEO, Chad Rigetti, will participate in key events, including one-on-one meetings at the Needham & Co. Semiconductor Conference and Jefferies Semiconductor Summit. Additionally, Rigetti will be featured in a fireside chat at the Deutsche Bank Technology Conference on September 1, 2022, which will be available for live audio streaming.
Established in 2013, Rigetti specializes in full-stack quantum-classical computing, serving various clients through its Quantum Cloud Services platform.
Rigetti Computing showcased advancements in its quantum computing roadmap, achieving over 4,000 CLOPS1 speed performance, a 4.5x increase from previous results. The company has secured two contracts in the U.K. and launched its first U.K.-based quantum computer. Financially, Rigetti reported $2.1 million in Q2 revenue, up 39% year-over-year, but net GAAP loss was $10.0 million. A $75 million equity facility was established for enhanced liquidity. The fiscal year 2022 revenue forecast remains uncertain due to prolonged contract negotiations, potentially impacting future EBITDA losses.
Rigetti Computing has been awarded a contract by the Defense Advanced Research Projects Agency (DARPA) to develop benchmarks for quantum application performance, with a project value of up to $2.9 million over three years. Collaborating with University of Technology Sydney, Aalto University, and University of Southern California, Rigetti aims to enhance predictions of fault-tolerant quantum computers’ performance. This initiative is part of DARPA’s Quantum Benchmarking Program and highlights Rigetti's leadership in quantum computing technology.
Rigetti Computing (RGTI) has announced its plan to release second quarter 2022 financial results on August 11, 2022, after market close. The company will host a conference call at 5:00 p.m. ET to discuss these results and provide updates on business operations. Rigetti, a leader in hybrid quantum-classical computing, has been operating quantum computers via the cloud since 2017 and develops its chips in-house. The details of the call can be accessed via the provided links, allowing participants to engage in the discussion post-release.
Rigetti Computing (NASDAQ: RGTI) announced the appointment of Cathy McCarthy as the new Chairperson of the Board following the resignation of General Peter Pace. These changes will take effect on July 15, 2022. McCarthy, who has been a director since July 2021, brings extensive executive experience from various industries. General Pace expressed gratitude for his tenure, highlighting Rigetti's growth from private markets to a Nasdaq listing. The company specializes in hybrid quantum-classical computing and operates quantum computers via its cloud service.
Rigetti Computing, Inc. (NASDAQ: RGTI) is set to join the Russell 3000® Index effective June 27, 2022. This inclusion, praised by CEO Chad Rigetti, aligns with the company’s mission to advance quantum computing technology. The Russell 3000® Index represents the largest 3,000 publicly traded U.S. companies and is a benchmark for significant institutional equity assets. Rigetti's participation underscores its growing influence in the quantum computing sector as it integrates its quantum processors into cloud services.
Rigetti UK Limited has launched its first UK-based 32-qubit Aspen-series quantum computer, accessible via the cloud through Rigetti QCS™. This initiative is part of a consortium aiming to commercialize quantum computing in the UK, involving partners like Oxford Instruments and Standard Chartered Bank. The project is supported by funding from the UK government's Quantum Technologies Challenge. Rigetti UK also received two Innovate UK awards to enhance quantum error correction and application optimization.
Rigetti Computing (Nasdaq: RGTI) announced that founder and CEO Chad Rigetti will participate in a fireside chat at the 17th annual Needham Technology & Media Conference. The event is scheduled for May 19, 2022, from 11:45 a.m. to 12:25 p.m. ET. Investors can access a live webcast through the Investor Relations section of Rigetti's website, with a replay available for one year post-event.
Rigetti is a leader in quantum-classical computing, offering cloud-based quantum computing services since 2017.
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