Core Insights - SkyWater Technology and QuamCore have announced a multi-million-dollar collaboration to develop a superconducting fabrication process for QuamCore's SFQ digital controller chip, marking a significant step in quantum computing technology [1][2] - The partnership aims to enable scalable and energy-efficient control for a one-million-qubit superconducting quantum computer, addressing critical bottlenecks in wiring density, heat load, and latency [2][4] Company Overview - SkyWater Technology is the largest U.S.-owned pure-play semiconductor foundry, focusing on advanced manufacturing and supporting next-generation technologies under the CHIPS and Science Act initiatives [1][8] - QuamCore specializes in developing ultra-low-power control electronics for superconducting qubits, aiming to create fault-tolerant, million-qubit quantum systems [7] Technical Collaboration - The collaboration will leverage SkyWater's expertise in superconducting process integration and QuamCore's proprietary SFQ architecture, which operates at 10 mK, the same temperature as the qubits [3][4] - Joint milestones over the next 12–18 months include the fabrication of superconducting test vehicles and demonstration of wafer-scale SFQ control chips [5] Strategic Importance - This partnership enhances SkyWater's role as a quantum-ready U.S. manufacturing partner, facilitating the domestic development of advanced computing technologies [5][6] - The collaboration is expected to significantly reduce power consumption by up to nine orders of magnitude compared to conventional CMOS-based control electronics, making large-scale quantum systems more feasible [4][6]

Core Insights - Rigetti Computing reported its financial results for Q4 and the full year of 2024, highlighting significant losses and strategic collaborations aimed at advancing quantum computing technology [1][2][8]. Financial Performance - Q4 2024 revenues were $2.3 million, a decrease from $3.4 million in Q4 2023 [8] - For the full year 2024, revenues totaled $10.8 million, down from $12.0 million in 2023 [8] - Operating expenses for Q4 2024 were $19.5 million, slightly lower than $19.7 million in Q4 2023 [8] - The net loss for Q4 2024 was $153.0 million, compared to a net loss of $12.6 million in Q4 2023 [8] - The full-year net loss for 2024 was $201.0 million, significantly higher than the $75.1 million loss in 2023 [8] Strategic Collaborations - Rigetti entered a strategic collaboration with Quanta Computer, committing over $100 million each over five years to develop superconducting quantum computing technologies [3][4] - Quanta will invest $35 million in Rigetti through a securities purchase agreement, pending regulatory clearance [3] Technology Developments - Rigetti launched the 84-qubit Ankaa-3 system in December 2024, achieving a median iSWAP gate fidelity of 99.0% and 99.5% median fidelity with fSim gates [6][9] - The Ankaa-3 system is available through Rigetti Quantum Cloud Services and platforms like Microsoft Azure and Amazon Braket [7] Academic Engagement - Rigetti sold its first Novera QPU to Montana State University, aimed at educating and training in quantum computing technologies [5] Cash Position - As of December 31, 2024, Rigetti had cash, cash equivalents, and available-for-sale securities totaling $217.2 million, a significant increase from $21.4 million at the end of 2023 [8][21]