Rigetti Computing has completed a $350 million at-the-market (ATM) equity offering, significantly increasing its cash reserves to approximately $575 million. The transaction provides the superconducting quantum hardware firm with expanded capital for scaling operations, without incurring debt, and aligns with its strategy to pursue commercial readiness in the quantum computing sector.
The company stated that proceeds will primarily support working capital, capital expenditures, and general corporate operations. In addition, funds may be allocated toward future strategic collaborations, acquisitions, or partnerships. The ATM structure, previously disclosed by Rigetti, enabled the firm to issue shares incrementally over time, rather than through a single offering, reducing execution risk while building financial flexibility.
Rigetti’s quantum systems use superconducting gate-based qubits and have been available via cloud since 2017. In 2021, the company began delivering on-premises systems with qubit counts between 24 and 84, and in 2023 introduced the 9-qubit Novera QPU—targeting researchers who require cryogenic-compatible, standalone quantum processors. Rigetti manufactures its chips in-house at Fab-1, a dedicated facility that enhances design control and scalability.
The funding round positions Rigetti to remain competitive amid rising capital demands in the quantum sector, where progress depends on both hardware innovation and sustained investment. The company now holds a strengthened balance sheet and improved operational runway, though the equity raise may raise shareholder dilution concerns in the absence of near-term commercial revenue.
Read the full release from Rigetti here.
June 11, 2025
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