Rigetti Computing has completed a $100 million equity offering through its “at-the-market” (ATM) program, which began in March 2024. The company intends to use these funds for working capital, capital expenditures, and advancing its superconducting quantum computing technologies. Key priorities include improving 2-qubit gate fidelity and scaling quantum systems to higher qubit counts.
CEO Dr. Subodh Kulkarni emphasized the strong interest in Rigetti’s quantum systems from national labs and academic institutions for on-premises research. Rigetti’s superconducting systems feature gate speeds of 60-80 nanoseconds, significantly faster than competing modalities like ion traps and neutral atoms. The company believes its current financial resources will sustain operations through 2026 while continuing to explore funding opportunities for growth.
Rigetti, known for its proprietary quantum-classical integration, operates the industry’s first multi-chip quantum processor and a dedicated fabrication facility, Fab-1. These capabilities align with its strategy to lead in scalable quantum computing solutions for enterprise and government clients.
For further details, visit Rigetti’s press release here.
November 26, 2024
