Rigetti Computing Launches 84-Qubit Ankaa™-3 System; Achieves 99.5% Median Two-Qubit Gate Fidelity Milestone

Core Insights - Rigetti Computing has launched its 84-qubit Ankaa-3 system, which features significant hardware redesigns for enhanced performance and fidelity in quantum computing [5][12] - The company emphasizes its leadership in superconducting quantum computing, citing advantages such as fast gate speeds and established manufacturing processes [2][5] - Rigetti has achieved notable milestones in two-qubit gate fidelity, with a median 99.0% iSWAP gate fidelity and 99.5% median fidelity for fSim gates [5][12] Financial Position - Rigetti holds approximately $225 million in cash and cash equivalents, with no debt, indicating strong financial health to support its roadmap and performance goals [2] Technological Advancements - The Ankaa-3 system incorporates a new cryogenic hardware design that improves efficiency and reduces costs per qubit, enabling scalability to thousands of qubits [6][12] - Rigetti has overhauled its qubit chip to enhance coherence and implemented a novel metal deposition method for improved qubit circuitry [6][12] - The company has developed precise control technologies and a robust calibration process to reduce error rates in quantum gate operations [6][12] Future Plans - Rigetti plans to introduce a next-generation modular system architecture and expects to release a 36-qubit system by mid-2025, followed by a system with over 100 qubits by the end of 2025 [7][8] - The Ankaa-3 system will be available through Rigetti Quantum Cloud Services and will be integrated into platforms like Amazon Braket and Microsoft Azure in early 2025 [7]