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.
Overview
Rigetti Computing Inc (Nasdaq: RGTIW) is a pioneer in full-stack quantum computing, renowned for its breakthrough technology in scalable, multi-chip quantum processors and ultra-low latency integration between quantum and classical infrastructures. Serving global enterprise, government, and research clients, Rigetti leverages decades of scientific and engineering expertise to deliver practical quantum computing solutions that integrate seamlessly with public and private clouds. With proprietary technology and an in-house manufacturing facility known as Fab-1, the company designs and produces its chips internally, ensuring a high level of control over quality and scalability.
Technology and Innovation
At the heart of Rigetti's innovation is its integrated quantum-classical infrastructure. The company develops advanced multi-chip quantum processors that utilize superconducting qubits based on Josephson Junction technology. Rigetti’s engineering approach emphasizes a modular design, enabling the tiling of smaller chip architectures to form larger, scalable quantum processors. This method addresses key challenges in qubit interconnectivity, speed, and fidelity, and has established Rigetti as an influential player in the superconducting quantum computing space.
Quantum-Classical Integration
Rigetti's proprietary technology provides ultra-low latency communication between quantum processing units (QPUs) and classical computing systems. Through its Rigetti Quantum Cloud Services (QCS®) platform, the company offers cloud-accessible quantum computing solutions that integrate high-performance classical computing resources with state-of-the-art quantum processors. This integration enables fast, reliable access to quantum computing power for both on-premises systems and remote users, making the technology accessible for complex algorithmic research and practical applications.
Manufacturing and Scaling
In a competitive market, Rigetti stands out with its ability to design and manufacture quantum chips in-house. The Fab-1 facility is the industry’s first dedicated quantum device manufacturing site, marking a significant step toward scalable quantum computing. Rigetti’s multi-chip architecture not only simplifies production but also lays a strong foundation for increasing qubit counts without compromising on performance. This sustainable approach enables the company to iterate on its designs and develop ever-more powerful quantum solutions.
Partner Ecosystem and Market Position
Understanding that no single entity can deliver all aspects of quantum technology, Rigetti has strategically developed a robust partner ecosystem. Its collaborative initiatives include partner programs that integrate hardware, software, and service providers, collectively building a functional quantum computing system. Through these partnerships, Rigetti ensures that its customers receive comprehensive support—from control systems and dilution refrigerators to advanced quantum software—thus reinforcing its position as a trusted provider in the quantum computing market.
Applications and Impact
Rigetti's quantum computing systems are designed to address some of humanity's greatest computational challenges, ranging from optimization and simulation to solving complex scientific problems. By enabling high-performance integration with established cloud services and classical computing platforms, Rigetti's technology supports a wide array of applications in industries such as finance, materials science, pharmaceuticals, and government research. The company's innovative approach positions it as a pivotal player in advancing the practical utility of quantum computing technologies.
Key Attributes
- Full-Stack Expertise: From chip design to cloud integration, Rigetti’s comprehensive approach simplifies complex quantum computing architectures.
- In-House Manufacturing: The state-of-the-art Fab-1 facility enables Rigetti to maintain high quality and control over its quantum processors.
- Integrated Ecosystem: Collaborations with industry-leading partners expand the capabilities of Rigetti’s systems and foster innovation across the entire quantum computing stack.
- High-Performance Systems: Utilizing superconducting qubits and a modular multi-chip design, the company achieves ultra-fast gate speeds and precise qubit control.
Conclusion
Rigetti Computing Inc continues to set benchmarks in the field of quantum computing through its sophisticated full-stack approach and strong commitment to technological innovation. Its pioneering methods in chip manufacturing, cloud integration, and partner collaboration ensure that the company is well-positioned to maintain its relevance and expertise in the evolving quantum computing landscape. For investors and industry watchers, Rigetti represents a fascinating blend of scientific rigor and market-driven innovation, making it a noteworthy subject of study in the quantum revolution.
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.
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.
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