BERKELEY, Calif., April 30, 2025 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (Nasdaq: RGTI) (“Rigetti” or the “Company”), a pioneer in full-stack quantum-classical computing, announced today that it has closed the previously announced investment by Quanta Computer Inc. (“Quanta”, TWSE: 2382.TW) related to their strategic collaboration agreement. In connection with the closing, Quanta purchased approximately $35 million of shares of Rigetti common stock at approximately $11.59 per share. “We are pleased to t ...

BERKELEY, Calif., April 28, 2025 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or the "Company") (Nasdaq: RGTI), a pioneer in hybrid quantum-classical computing, announced today that it will release first quarter 2025 results on May 12, 2025 after market close. The Company will host a conference call to discuss its financial results and provide an update on its business operations at 5:00 p.m. ET the same day. Key details regarding the call are as follows: Call Date: Monday, May 12, 2025Call Time: ...

Rigetti continues to support the U.S. Government's commitment to maintaining quantum computing leadership and advancing the field. Rigetti was recently selected to participate in DARPA's Quantum Benchmarking Initiative, which aims to determine if any approach to quantum computing can achieve utility-scale operation by 2033. Rigetti devices that have been manufactured leveraging ABAA show a reduction in two-level systems (TLSs). TLSs are defects in a qubit's material that impact qubit performance by pulling ...

The quantum computing company still has a lot to prove.Rigetti Computing (RGTI 5.67%) is a "pure play" quantum computing company that went public by merging with a special purpose acquisition company (SPAC) three years ago. It designs and manufactures its own quantum processing units (QPUs), builds full quantum computing systems, and hosts a cloud platform for developing quantum applications.Rigetti has been a wildly unpredictable stock. It opened at $9.75 per share on the first day after closing its SPAC m ...

Core Insights - Rigetti UK Limited has been awarded £3.5 million as part of Innovate UK's Quantum Missions pilot competition to enhance quantum error correction (QEC) capabilities on superconducting quantum computers [2][3] - The project aims to address critical challenges in achieving fault-tolerant quantum computing, including high error rates and processing bottlenecks in classical control systems [3][4] - Rigetti will upgrade its existing quantum computer at the National Quantum Computing Centre (NQCC) to facilitate ambitious QEC tests [4][5] Project Details - The consortium led by Rigetti includes Riverlane and the NQCC Superconducting Circuits Team, focusing on real-time QEC capabilities [2][4] - Riverlane will spearhead the QEC experiments, while the NQCC team will provide support and quality assurance [4] - The project aims to achieve measurable improvements in key performance metrics such as throughput, latency, and decoding accuracy [5] Future Developments - Rigetti plans to deploy a larger 36-qubit quantum processing unit (QPU), upgrading from the current 24-qubit QPU [6] - Collaboration with SEEQC aims to integrate digital chip-based technology with Rigetti's 9-qubit Novera™ QPU to identify components necessary for scalable QEC [7] - Additional collaborations with TreQ, Qruise, Q-CTRL, and Oxford Ionics will create an open-architecture quantum computing testbed [7][8] Company Background - Rigetti is recognized as a pioneer in full-stack quantum computing, operating quantum computers over the cloud since 2017 [9] - The company has developed the industry's first multi-chip quantum processor and manufactures its chips in-house at its dedicated facility [9]

Core Viewpoint - Rigetti Computing's stock experienced a dramatic surge of nearly 2,000% in late 2024, but subsequently lost about half its value in 2025 due to doubts about the readiness of quantum technology for commercial use [1][5]. Company Overview - Rigetti Computing operates in the quantum computing sector, utilizing qubits which allow for a broader range of values compared to traditional bits, significantly enhancing computing power [3]. - The company has a market capitalization of over $2.3 billion and is set to release a 36-qubit system in mid-2025, followed by a 100-qubit system aimed at reducing error rates by 2x by the end of the year [4]. Financial Performance - In 2024, Rigetti reported revenues of $10.8 million, a decrease of 10% from the previous year, resulting in an operating loss of $68.5 million [6]. - The company faced a total loss of $201 million in 2024, which is significantly higher than the $75 million loss recorded in 2023 [6]. - Rigetti's negative free cash flow was nearly $62 million in 2024, with current liquidity of $192 million, allowing it to operate for approximately three more years without additional funding [7]. Market Position and Challenges - The company is under pressure to issue additional shares or incur more debt to sustain operations, raising concerns about its competitive position against larger firms like Alphabet [8]. - Valuation metrics are challenging, with a price-to-sales ratio exceeding 140 and a price-to-book ratio of 18, which may deter potential investors [9]. - Despite the potential for exponential growth in quantum computing, Rigetti's prospects for commercial success appear distant, leading to skepticism about its ability to generate revenue in the near term [11][12].

Company Performance - Rigetti Computing, Inc. (RGTI) ended the latest trading session at $9.42, reflecting a +0.32% change from the previous close, outperforming the S&P 500's daily loss of 3.46% [1] - Over the last month, RGTI shares increased by 4.92%, contrasting with the Computer and Technology sector's loss of 7.24% and the S&P 500's loss of 5.27% [1] Earnings Expectations - Analysts expect Rigetti Computing, Inc. to report earnings of -$0.05 per share in the upcoming earnings report, indicating a year-over-year growth of 64.29% [2] - The consensus estimate for revenue is $2.46 million, which represents a decline of 19.34% from the same quarter last year [2] Full-Year Estimates - The Zacks Consensus Estimates for Rigetti Computing, Inc. project earnings of -$0.20 per share and revenue of $14.52 million for the full year, reflecting year-over-year changes of +44.44% and +34.57%, respectively [3] - Recent changes to analyst estimates indicate evolving short-term business trends, with positive revisions suggesting analyst optimism about the company's profitability [3] Zacks Rank and Industry Performance - Rigetti Computing, Inc. currently holds a Zacks Rank of 2 (Buy), with the Zacks Consensus EPS estimate remaining steady over the past month [5] - The Internet - Software industry, part of the Computer and Technology sector, has a Zacks Industry Rank of 75, placing it in the top 31% of over 250 industries [6]

Rigetti Computing (RGTI) shares have rallied 15.2% since the company announced that it was selected to participate in the Defense Advanced Research Projects Agency (“DARPA”) Quantum Benchmarking Initiative on April 03. This program aims to evaluate whether quantum computing technologies can achieve a utility-scale performance by 2033.Rigetti’s selection as one of 15 finalists in DARPA’s Quantum Benchmarking program, alongside giants like IBM and Hewlett Packard Enterprise, underscores its rising influence i ...

The company didn't exactly earn its skyrocketing price jump, but the recent drop isn't Rigetti's fault either. Forces way beyond Rigetti's control are playing Wall Street lacrosse with the stock. So what's going on, and is this price dip a good time to buy Rigetti stock? Quantum computing stocks have been on a roller coaster ride. Is Rigetti's 61% price drop a buying opportunity or just the beginning of a regrettably necessary correction? Quantum computing specialist Rigetti Computing (RGTI -7.56%) has been ...

BERKELEY, Calif., April 03, 2025 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (NASDAQ:RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, announced today that it was selected to participate in the Defense Advanced Research Projects Agency (DARPA) Quantum Benchmarking Initiative (QBI). The primary goal of QBI is to determine if any approach to quantum computing can achieve utility-scale operation by 2033. QBI will use a multi-stage approach, Stages A, B, and C, to assess t ...