Quantum Computing Advancements - Regetti Computing launched its Sephius i36Q multi-chip quantum computer, featuring a chiplet-based system with four chiplets of 9 qubits each, totaling 36 qubits [1][3] - The new system achieves an improved fidelity of 995%, referred to as 2-qubit gate fidelity, with gate speeds of approximately 60-70 nanoseconds [3] - Regetti previously announced an 84-qubit single-chip system with 990% 2-qubit fidelity [3] - Chiplet architecture is crucial for scaling quantum computing to thousands or tens of thousands of qubits [4] Technical Challenges and Goals - Achieving quantum advantage requires at least 1,000 qubits, 999% or better 2-qubit gate fidelity, gate speeds faster than 50 nanoseconds, and real-time error correction [5] - Improving fidelity from 995% to 999% is a significant engineering challenge, drawing parallels to advancements in the CMOS industry [8] - While gate speed improvement is needed, fidelity improvement is considered the more significant hurdle [9] Quantum Computing Applications and Future - Quantum computers can solve currently unsolvable problems with classical computing, while consuming less energy [10] - Quantum computing offers potentially a million or a billion times better computing power with a fraction of the energy consumption [11][12] - Potential applications include weather forecasting, AI (bridging the gap from GenAI to AGI), drug discovery, material synthesis, and encryption [12][13] - The quantum computing business is projected to reach hundreds of billions of dollars in a decade or two, but the technology is still in the R&D stage [13][14] Financial Status - Regetti Computing has approximately $572 million in cash reserves as of the end of the last quarter [19] - The company's current burn rate is around $60 million, providing sufficient funds to commercialize quantum computers and reach profitability [19]

Group 1 - Rigetti Computing, Inc. has shown clear progress in its technology following the release of Q2 2025 earnings [1] - The company operates a "full-stack" setup, which is significant for its quantum computing capabilities [1] Group 2 - The focus of the research is primarily on small- to mid-cap companies, which are often overlooked by investors [1] - Occasionally, larger-cap companies are analyzed to provide a broader perspective on equity markets [1]

things. I mean, we are we are seeing capital raises all over the place. >> Now, does it worry you that mass. And does it worry you that there's a company by the name of Bullish in terms of irony.>> It it it doesn't worry me, but it is worth noting. It's >> ironic. >> Yeah, it could be.Um, >> backed by Peter Teal. >> Originally, they did try to go public through a spa back in 22 >> with Tom Carly. >> With Tom Carly.>> We have not doing it the oldfashioned way. We've got E Toro and Circle and now this. We'll ...

Core Insights - The Defiance Quantum ETF (NASDAQ: QTUM) is designed to provide investors exposure to companies involved in quantum computing and machine learning with a low expense ratio of 40 basis points [1] Group 1: Investment Strategy - QTUM offers an indexed investment strategy focusing on quantum computing and machine learning sectors [1] Group 2: Analyst Background - Michael Del Monte, a buy-side equity analyst with over 5 years of experience, emphasizes a holistic approach to investment recommendations, considering the entire investment ecosystem rather than evaluating companies in isolation [1]

Group 1: Market Valuation Predictions - Nvidia is projected to reach a market valuation of $5 trillion within the next few years, with its current market cap at $4.4 trillion [1] - Amazon is predicted to achieve a $5 trillion valuation by 2030, needing to more than double its current market cap of approximately $2.36 trillion [2][3] Group 2: Revenue Growth Analysis - Amazon's North America segment saw an 11% year-over-year revenue increase in Q2 2025, primarily driven by e-commerce and advertising [4] - Amazon's international segment experienced a 16% year-over-year revenue growth in Q2, also mainly from e-commerce operations [4] - Amazon Web Services (AWS) reported a 17.5% year-over-year revenue increase in Q2, indicating strong growth in the cloud services market [5] - Amazon's earnings grew significantly, with a 34.8% year-over-year increase in Q2, suggesting that earnings growth may drive stock price increases [6] Group 3: Future Growth Opportunities - Project Kuiper, Amazon's satellite internet service, is expected to launch soon, with agreements already signed by numerous enterprise and government customers [8][9] - Zoox, Amazon's all-electric robotaxi service, is expanding its operations, with projections indicating the global robotaxi market could reach nearly $119 billion by 2031 [10] - Amazon's advancements in quantum computing, particularly with the Ocelot chip, could position AWS as a significant player in the quantum computing market [11] Group 4: Challenges and Considerations - While ambitious, the prediction of Amazon reaching a $5 trillion valuation faces challenges such as potential global recession and intensified competition in e-commerce and cloud services [13][14]

Core Viewpoint - Alphabet is positioned to become a leader in quantum computing, similar to Nvidia's role in AI, with its recent advancements in quantum technology and applications [1][7][11]. Group 1: Alphabet's Quantum Computing Innovations - Alphabet unveiled its quantum processor called Willow, featuring 105 qubits and advanced algorithmic capabilities [5]. - In an experiment, Willow reportedly solved complex computations in under 5 minutes, a task that would take classical supercomputers an estimated 10 septillion years [6]. - The innovations in quantum computing by Alphabet are likened to Nvidia's pioneering work with GPUs, indicating a potential for future commercial applications [7]. Group 2: Strategic Ecosystem Development - Alphabet is developing a comprehensive AI ecosystem, including TensorFlow for machine learning and Cirq for quantum application development [8]. - This strategy mirrors Nvidia's approach, which combines hardware and software to create a self-reinforcing technological advantage [9]. - The company is betting on the eventual exhaustion of classical computing capabilities, positioning itself for a transition to quantum computing [10]. Group 3: Valuation and Investment Potential - Alphabet's stock is currently trading in line with its three-year average forward P/E ratio, suggesting a valuation discount compared to peers [12][14]. - Despite ongoing innovations across various AI sectors, the market has not fully priced in the potential upside from these investments [15]. - The company is seen as a compelling investment opportunity, with expectations of significant valuation expansion as its AI-powered products scale [16].

Quantum Computing Industry Overview - Quantum computing is rapidly transitioning from academic and government facilities to commercially viable applications, necessitating specialized real estate [1] - Quantum computers require unique real estate solutions due to their specific needs, differing from traditional data centers [2] Real Estate Implications - The real estate impact of quantum computing is projected to be significant, comparable to the impact of AI and data centers [2] - Current data centers are unsuitable for quantum computers due to differences in physical form and the need for electromagnetic shielding against noise (electrical, magnetic, vibration, or sound disturbances) [2] - New commercial developments are expected to concentrate in regions with existing academic and government institutions to leverage access to academics and trained workforce [3] Key Quantum Markets - The top 20 global quantum markets are located near national research centers and universities [3] - In the US, these markets include Chicago, Boston, New Haven (Connecticut), parts of Colorado and Maryland, and Southern California [3] Specific Developments - Quantum Side chose a Chicago steel mill complex for a new facility, funded primarily by the state of Illinois [4] - The Illinois Quantum and Micro Electronics Park, developed by Related Midwest, plans to develop 128 acres, approximately 5.6 million square feet, marking the beginning of "quantum real estate" [4]

Core Insights - Rigetti Computing reported a quarterly loss of 13 cents per share, missing the analyst consensus estimate of a 6-cent loss [1] - Quarterly revenue was $1.8 million, below the analyst consensus estimate of $1.88 million, and down from $3.086 million in the same period last year [1][4] - Total operating expenses for the quarter were $20.4 million, resulting in an operating loss of $19.9 million and a net loss of $39.7 million [4] Company Developments - Rigetti announced the general availability of its multi-chip quantum computer, Cepheus 1-36Q, which is a significant technological advancement for the company [3] - CEO Dr. Subodh Kulkarni expressed confidence in achieving year-end technology goals, highlighting the company's proprietary chiplet approach and strong financial position [2]

Core Insights - Rigetti Computing, Inc. reported its financial results for Q2 2025, highlighting significant advancements in quantum computing technology and a strong financial position following a $350 million equity raise [1][12]. Financial Performance - Total revenues for Q2 2025 were $1.8 million, a decrease from $3.1 million in Q2 2024 [9][23]. - Total operating expenses for Q2 2025 were $20.4 million, compared to $18.1 million in Q2 2024 [9][23]. - The operating loss for Q2 2025 was $19.9 million, up from a loss of $16.1 million in Q2 2024 [9][23]. - The net loss for Q2 2025 was $39.7 million, which included $22.8 million of non-cash losses related to derivative warrant and earn-out liabilities [9][23]. - As of June 30, 2025, the company had cash, cash equivalents, and available-for-sale investments totaling $571.6 million, with no debt [9][12]. Technology Advancements - Rigetti launched the Cepheus™-1-36Q, the industry's largest multi-chip quantum computer, achieving a 2x reduction in two-qubit gate error rate and a median two-qubit gate fidelity of 99.5% [4][5]. - The company emphasizes the superiority of superconducting qubits for quantum computing, citing their scalability and speed advantages over other modalities [6]. - Rigetti's proprietary chiplet-based architecture enhances performance and manufacturing efficiency, contributing to the recent technological advancements [10]. Business Strategy - The proceeds from the recent equity offering will primarily be used for working capital, capital expenditures, and potential strategic collaborations or acquisitions [12][13]. - Rigetti plans to release a 100+ qubit chiplet-based system by the end of 2025, maintaining a target of 99.5% median two-qubit gate fidelity [11]. Historical Context - Rigetti introduced the world's first multi-chip quantum processor in 2021, which laid the groundwork for the recent Cepheus-1-36Q [7]. - The company has been operating quantum computers over the cloud since 2017 and has expanded its offerings to include on-premises quantum computing systems [17].

Rigetti Computing Inc. RGTI isn't just riding a wave – it's surfing a quantum tide that's left skeptics scrambling for their slide rules. The stock, up a staggering 1,770% over the past year, now finds itself at a fascinating inflection point: Wall Street expects its second-quarter report to show a modest $1.88 million in revenue and a loss of just four cents per share, according to Benzinga Pro data. That's peanuts in the big-cap tech world, but for a quantum computing upstart, it's enough to make the mark ...