Rigetti Computing Inc Stock Price, News & Analysis

Rigetti Computing, Inc. (Nasdaq: RGTI) announced that its Founder, Dr. Chad Rigetti, will resign from his roles as President, CEO, and Board Director effective December 15, 2022. The company is actively searching for a successor; if one is not found by the resignation date, Rick Danis, General Counsel, will serve as interim CEO. The Board expressed confidence in Danis's abilities and the technical team’s capacity to maintain progress in quantum computing innovation.

Rigetti Computing (Nasdaq: RGTI) has announced that Founder Dr. Chad Rigetti will step down from his role as President and CEO to focus on product and technology advancements. A search for his successor will commence, with Dr. Rigetti remaining in his role until a new CEO is appointed. The board praised Dr. Rigetti for his leadership, highlighting the company’s growth and technological achievements, including their advanced multi-chip superconducting processors. Rigetti aims to continue delivering quantum advantage across industries such as finance and national security.

Rigetti Computing, a leader in hybrid quantum-classical computing, will release its third quarter 2022 financial results on November 14, 2022, after the market closes. A conference call is scheduled for 5:00 p.m. ET on the same day, focusing on financial results and business updates. Investors can listen live through the provided webcast link or participate by registering via a live call participant link. Rigetti has established itself in the quantum computing space, operating its own cloud services and holding over 150 patents.

Rigetti Computing (Nasdaq: RGTI) has announced key business developments, including partnerships and technology updates, ahead of its investor day. The company highlighted its strategic investments in quantum hardware and partnerships aimed at achieving Quantum Advantage. New collaborations with Bluefors and NVIDIA were mentioned, focusing on cryogenic systems and hybrid workflows for climate modeling. Rigetti's quantum processors are now available on Microsoft Azure Quantum, and the company remains on track to deliver next-generation hardware in 2023, including the 84-qubit Ankaa™ and 336-qubit Lyra™ systems.

Rigetti Computing has launched Rigetti QCS™ in Public Preview on Microsoft’s Azure Quantum platform, granting all Azure Quantum users access to its quantum processors. This launch marks a transition from Private to Public Preview, enabling developers to use Rigetti's Aspen-M-2 80-qubit and Aspen-11 40-qubit quantum processors. The integration with Azure enhances the functionality of Rigetti's quantum programming language, Quil, and supports popular programming frameworks. New users can access $500 in Azure Quantum Credits to experiment with Rigetti's offerings.

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.