Welcome to our dedicated page for Rigetti Computing news (Ticker: RGTIW), a resource for investors and traders seeking the latest updates and insights on Rigetti Computing stock.
Rigetti Computing, Inc. is a pioneering full-stack quantum computing company based in Berkeley, CA. They are developing the world's first general-purpose quantum supercomputing systems to address humanity's greatest computational challenges. Rigetti has proprietary quantum-classical infrastructure that integrates with public and private clouds for high-performance practical quantum computing. The company has achieved significant milestones, including launching the industry's first multi-chip quantum processor for scalable quantum computing systems.
Rigetti recently deployed a 32-qubit Aspen™-class quantum computer in the UK via their Quantum Cloud Services (QCS™) platform. Collaborating with partners like Standard Chartered Bank, Phasecraft, and Oxford Instruments, Rigetti demonstrated the performance of quantum programs and advanced quantum machine learning applications. Additionally, the company won a UKRI Competition to deliver a 24-qubit quantum computing system to the National Quantum Computing Centre (NQCC) using their latest Ankaa™-class chip architecture.
Rigetti also launched the Novera QPU Partner Program to create an ecosystem of partners supporting the on-premises quantum computing network. Partners include Horizon Quantum Computing, Bluefors, Classiq, Quantum Machines, and other leading companies in the quantum technology space.
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.
Rigetti Computing (RGTI) has announced a registered direct offering of 50 million shares of common stock priced at $2.00 per share, aiming to raise approximately $100 million in gross proceeds. The offering, priced at-the-market under Nasdaq rules, is expected to close around November 27, 2024. The company plans to use the proceeds for working capital and general corporate purposes. With these funds and existing cash, Rigetti believes it will be adequately funded to continue its technology development and quantum computer business strategy without needing additional capital raises.
Rigetti Computing (NASDAQ: RGTI) has completed a $100 million at-the-market equity offering initiated in March 2024. The funds will be used for working capital, capital expenditures, and advancing their superconducting quantum computing technology. The company aims to improve 2-qubit gate fidelity and develop higher qubit count systems. CEO Dr. Subodh Kulkarni highlighted strong interest from national labs and academic institutions for on-premises quantum computers. Rigetti's system gate speeds achieve 60-80ns active duration, significantly faster than competing technologies. The company projects their current cash position will support operations through 2026.
Rigetti Computing (RGTI) announced that CEO Dr. Subodh Kulkarni will deliver a keynote presentation at SEMICON Europa 2024 in Munich on November 13, 2024. The presentation, titled 'Superconducting Quantum Computing: Building on Decades of Semiconductor Innovation for Transformative Computational Power,' will discuss quantum computing advancements and Rigetti's contributions to the field.
The company recently unveiled its 2025 roadmap, featuring plans for a 36-qubit system by mid-2025 with 99.5% median 2-qubit fidelity, followed by a 100+ qubit system by year-end. These systems will utilize Rigetti's Alternating-Bias Assisted Annealing (ABAA) chip fabrication technique and modular system architecture, achieving gate speeds of 60-80ns.
Rigetti Computing (NASDAQ: RGTI) reported Q3 2024 financial results with revenues of $2.4 million and a net loss of $14.8 million. The company announced technology roadmap updates, including plans to introduce a new modular system architecture in 2025, featuring a 36-qubit system by mid-year and a 100+ qubit system by year-end, both targeting 99.5% median 2-qubit fidelity. The company remains on track to deploy its 84-qubit Ankaa-3 system by end of 2024. Cash position stands at $92.6 million as of September 30, 2024.
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