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Rigetti Announces Successful Completion of $100 Million Partnership Funding for Quantum Computing

Nov 25, 2024•over 1 year ago

Contract Type

partnership

BerkeleyInformation Technologyinformation technology & services

Description

Rigetti Computing, Inc. has successfully completed sales of $100 million gross proceeds of its common stock through an 'at-the-market' equity offering program. The funding will be utilized for working capital, capital expenditures, and other general corporate purposes, with a focus on continuing to lead in superconducting quantum computing and improving qubit systems.

Company Information

Company

Rigetti Computing

Location

775 Heinz Avenue

Berkeley, California, United States

About

Rigetti Computing, Inc. is a quantum computing company founded in 2013 by physicist Chad Rigetti. Headquartered in Berkeley, California, with an additional facility in Fremont, the company specializes in designing and fabricating superconducting quantum processors. Rigetti offers quantum processing units (QPUs) and quantum computing systems primarily through its cloud platform, providing quantum computing as a service (QCaaS). Their product lineup includes the 9-qubit Novera QPU and the 84-qubit Ankaa-3 system, both accessible via the Forest cloud platform. This platform allows developers to write and test quantum algorithms using the Quil instruction language, supporting hybrid quantum-classical computing. Rigetti also operates an in-house fabrication facility, Fab-1, which enhances their hardware development capabilities. In addition to their products, Rigetti provides professional services such as algorithm development and software support for various sectors, including commercial enterprises and government organizations. Their strategic partnerships with major cloud providers like AWS Braket and Microsoft Azure further expand access to their quantum processors.

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