Rigetti Computing Inc Stock Price, News & Analysis

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.

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.