Rigetti Computing Inc Stock Price, News & Analysis

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Rigetti Computing (NASDAQ: RGTI), a pioneer in quantum-classical computing, has successfully completed a $350 million at-the-market equity offering of its common stock. This funding boost increases the company's total cash position to approximately $575 million, with zero debt. The company plans to use the proceeds primarily for working capital, capital expenditures, and general corporate purposes. Additionally, Rigetti may allocate funds for potential strategic collaborations, acquisitions, or partnerships. The funding strengthens Rigetti's position to support the commercial scale-up of its superconducting gate-based quantum computers.

Rigetti Computing (RGTI) reported its Q1 2025 financial results, with revenues of $1.5 million and operating expenses of $22.1 million. The company posted a net income of $42.6 million, largely due to $62.1 million in non-cash gains from warrant and earn-out liabilities. Cash position strengthened to $237.7 million after Quanta Computer's $35 million investment at $11.59 per share. Rigetti secured several government contracts, including DARPA's Quantum Benchmarking Initiative, a $5.48 million AFOSR award, and three Innovate UK awards worth £3.5 million. Technical achievements include demonstrating optical control of superconducting qubits and developing a new quantum optimization algorithm. The company plans to upgrade its NQCC quantum computer from 24 to 36 qubits.

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 20th Annual Needham Technology, Media & Consumer Conference. The event is scheduled for May 9, 2025, at 1:30 PM ET. Investors can access the live webcast through Rigetti's Investor Relations website, and a replay will be available for 90 days after the event.

QphoX, Rigetti Computing (NASDAQ: RGTI), and the National Quantum Computing Centre (NQCC) have secured a multinational grant to develop optical readout technology for superconducting quantum computers. The collaboration follows a successful demonstration where QphoX and Rigetti achieved optical readout of a single superconducting qubit using microwave-to-optical transduction.

The 33-month project will focus on scaling QphoX's optical qubit readout system to interface with Rigetti's 9-qubit Novera QPU, enabling optical readout of all qubits. The system will be installed at the NQCC facility. This innovative approach could replace conventional microwave amplifiers and coaxial wiring, offering significant scaling advantages due to lower heat dissipation and minimal passive heat loads from optical fiber.

Rigetti Computing (Nasdaq: RGTI) has successfully closed a significant investment deal with Quanta Computer (TWSE: 2382.TW). The transaction involves Quanta purchasing approximately $35 million worth of Rigetti common stock at $11.59 per share.

This investment is part of a previously announced strategic collaboration between the two companies. The partnership combines Rigetti's pioneering work in superconducting quantum computing with Quanta's expertise in notebook and server manufacturing.

Dr. Subodh Kulkarni, Rigetti CEO, expressed optimism about the collaboration, stating that the partnership aims to position both companies at the forefront of the quantum computing industry. This strategic investment represents a significant step in strengthening their collaborative efforts in advancing quantum computing technology.

Rigetti Computing (Nasdaq: RGTI), a leader in hybrid quantum-classical computing, has scheduled its first quarter 2025 earnings release for May 12, 2025, after market close.

The company will host a conference call and webcast at 5:00 p.m. ET / 2:00 p.m. PT on the same day to discuss financial results and provide business updates.

• Earnings Release Date: May 12, 2025 (after market close)
• Conference Call Time: 5:00 p.m. ET / 2:00 p.m. PT
• Access Options: Live audio webcast or phone dial-in

Interested participants can access the webcast through the company's Investor Relations website at investors.rigetti.com. A replay will be available at the same location for one year following the call. For phone participation, registration is required through the provided link to receive dial-in details and a unique PIN.

Rigetti Computing (RGTI) has been awarded a $5.48 million Air Force Office of Scientific Research grant to advance its Alternating-Bias Assisted Annealing (ABAA) chip fabrication technology. The Rigetti-led consortium, including Iowa State University, Royal Melbourne Institute of Technology, University of Connecticut, and Lawrence Livermore National Laboratory, will study how ABAA reduces defects in superconducting qubits.

ABAA, introduced last year, applies alternating low-voltage pulses at room temperature to the oxide barrier of the Josephson junction in superconducting qubits. This technique enables precise targeting of qubit frequencies before chip packaging, improving two-qubit gate fidelity and technology scalability. Rigetti devices using ABAA have shown reduced two-level systems (TLSs), which are defects that impact qubit performance.

Rigetti (NASDAQ: RGTI) has won Innovate UK's Quantum Missions pilot competition, leading a £3.5 million consortium with Riverlane and the National Quantum Computing Centre (NQCC) to advance quantum error correction capabilities. The project focuses on enhancing superconducting quantum computers for fault-tolerant quantum computing.

Key developments include:

• Upgrading NQCC's quantum computer from 24 to 36 qubits
• Implementing Rigetti's latest generation control system
• Integrating with Riverlane's Quantum Error Correction Stack

Additionally, Rigetti secured two more Quantum Missions projects: a collaboration with SEEQC for digital chip-based technology integration, and a partnership with TreQ, Qruise, Q-CTRL, and Oxford Ionics to create an open-architecture quantum computing testbed.