Core Insights - Rigetti, in collaboration with Riverlane and the National Quantum Computing Centre (NQCC), has won Innovate UK's Quantum Missions pilot competition to enhance quantum error correction capabilities on superconducting quantum computers [1][2][3] - The project, with a budget of £3.5 million, aims to address critical challenges in achieving fault-tolerant quantum computing by developing key capabilities for executing numerous quantum operations [3][4] - Rigetti plans to upgrade its existing quantum computer at NQCC, with Riverlane leading the quantum error correction experiments [4][5] Project Details - The consortium will leverage Rigetti's superconducting quantum computer hosted at NQCC to conduct ambitious quantum error correction tests [2][3] - The project aims to improve key performance metrics such as throughput, latency, and decoding accuracy essential for real-time error correction [5][6] - Rigetti has also been awarded two additional projects under the Quantum Missions pilot competition, including deploying a larger 36-qubit quantum processing unit and integrating a new control system [6][7] Industry Context - Fault-tolerant quantum computing is expected to revolutionize computational power for solving real-world problems, necessitating effective integration of quantum error correction with quantum technology [3] - The Quantum Missions pilot competition is designed to accelerate quantum computing and networking projects by enhancing their capabilities and facilitating commercialization [5][8] - Rigetti's leadership in the UK's quantum computing ecosystem is underscored by its initiatives, including launching the first operational quantum computer at NQCC and leading a £10 million consortium for deploying UK-based quantum computers [8][9]

Core Insights - Rigetti, in collaboration with Riverlane and the National Quantum Computing Centre (NQCC), has won Innovate UK's Quantum Missions pilot competition to enhance quantum error correction capabilities on superconducting quantum computers [1][2] - The project, with a budget of £3.5 million, aims to advance fault-tolerant quantum computing by addressing critical challenges such as processing bottlenecks and high error rates [3][4] - Rigetti plans to upgrade its existing quantum computer at NQCC, with Riverlane leading the quantum error correction experiments [4][5] Project Details - The consortium will leverage Rigetti's superconducting quantum computer to conduct ambitious quantum error correction tests, aiming for real-time capabilities essential for universal fault-tolerant quantum computing [2][3] - Key improvements will focus on enhancing system performance and meeting crucial quantum error correction metrics [4][5] - The project is part of a broader initiative to accelerate quantum computing and networking projects, removing technological barriers to commercialization [5] Additional Collaborations - Rigetti has been awarded two additional projects under the Quantum Missions pilot competition, including deploying a larger 36-qubit quantum processing unit and integrating a new control system for improved qubit management [6][7] - Collaborations with SEEQC and other partners aim to integrate digital chip-based technology with Rigetti's quantum processing units to identify components necessary for scalable quantum error correction [7][8] - Another project will create an open-architecture quantum computing testbed, providing unique configurations and a common interface for quantum software and hardware [7][8] Company Background - Rigetti is recognized as a pioneer in full-stack quantum computing, operating quantum computers over the cloud since 2017 and serving various clients through its Quantum Cloud Services platform [9] - The company has introduced multiple quantum processing units, including a 9-qubit Novera QPU in 2023, designed for high-performance applications [9]

Core Viewpoint - A securities class action lawsuit has been filed against Quantum Computing Inc. (QCI) for allegedly making materially false and misleading statements regarding its business operations and prospects during the class period from March 30, 2020, to January 15, 2025 [1][2]. Allegations Against Defendants - The lawsuit claims that QCI overstated the capabilities of its quantum computing technologies, products, and services [2]. - It is alleged that QCI misrepresented the nature and scope of its relationship with NASA, including its contracts and subcontracts [2]. - The company purportedly exaggerated its progress in developing a thin film lithium niobate (TFLN) foundry and the scale of its operations related to TFLN chips [2]. - QCI's business dealings included undisclosed related party transactions, which contributed to its revenue [2]. - The lawsuit suggests that the revelations of these issues would likely have a significant negative impact on QCI's business and reputation [2]. - Defendants' positive statements about QCI's business were claimed to be materially misleading and lacked a reasonable basis [2]. Lead Plaintiff Process - Investors in QCI have until April 28, 2025, to seek appointment as a lead plaintiff representative of the class [3]. - A lead plaintiff acts on behalf of all class members and is typically the investor or group of investors with the largest financial interest [3]. - The decision to serve as a lead plaintiff does not affect an investor's ability to share in any recovery from the lawsuit [3]. Firm Background - Kessler Topaz Meltzer & Check, LLP is known for prosecuting class actions and has recovered billions for victims of corporate misconduct [4]. - The firm aims to protect investors and consumers from fraud and negligence by businesses [4].

Core Insights - The article discusses the competitive landscape of quantum computing, focusing on two leading companies: IonQ and D-Wave Quantum, each employing different technologies [1][2][3] Company Overview IonQ - IonQ is a leader in gate-based quantum computing, utilizing trapped-ion technology for general-purpose applications [4] - The company achieved a milestone by outperforming classical computing in medical device design, demonstrating a processing performance improvement of up to 12% [4] - IonQ's revenue for 2025 is estimated at $85 million, reflecting a year-over-year growth of 97.34% [5] - The company has expanded its quantum networking capabilities through acquisitions, resulting in significant government contracts totaling $75.6 million [6] - IonQ is part of DARPA's Quantum Benchmarking Initiative, but it faces profitability challenges, with a projected loss of $0.79 per share in 2025 [7][8] D-Wave Quantum - D-Wave specializes in quantum annealing technology, allowing for faster development of commercial quantum applications [8] - The company demonstrated quantum supremacy in materials simulation, with research published in the journal Science [9] - D-Wave's revenue for 2025 is projected at $23.39 million, indicating a robust increase of 163.85% from 2024 [10] - The company has secured significant commercial deployments, including a partnership with Ford Otosan that reduced scheduling time from 30 minutes to under five [11] - D-Wave's bookings grew by 128% year-over-year, with a cash position exceeding $300 million, positioning it well for sustained profitability [12] Financial Performance and Valuation - IonQ trades at a forward price/sales ratio of 58.75x, while D-Wave trades at a higher ratio of 80.69x [13] - Despite both companies trading at premium valuations, D-Wave's higher revenue growth rate suggests better value [14] - Year-to-date, IonQ shares have declined by 36.9%, while D-Wave shares have only decreased by 14.3% [18] Conclusion - D-Wave Quantum is positioned as a more compelling investment due to its demonstrated quantum supremacy, stronger projected revenue growth, and improved earnings estimates [19] - The company's successful commercial applications and robust financial position indicate a clear path to profitability, making it a favorable choice for investors in the quantum computing sector [20]

The next breakthrough technology to follow artificial intelligence (AI) could be quantum computing. In February, Amazon joined other big tech firms, such as Google parent Alphabet, in touting investments in the field.Now may be a good time to invest in one of this nascent industry's hot stocks, IonQ (IONQ 10.15%). Recent stock market volatility pushed down the share price of this quantum computing luminary.IonQ's stock was on fire earlier this year, soaring to a 52-week high of $54.74 in January. Since then ...

Core Viewpoint - A class action securities lawsuit has been filed against Quantum Computing Inc. (QUBT) for alleged securities fraud affecting investors between March 30, 2020, and January 15, 2025 [1][2]. Case Details - The lawsuit alleges that defendants made false statements regarding QCI's quantum computing technologies, overstating their capabilities [2] - It is claimed that the defendants misrepresented the nature and scope of QCI's relationship with NASA, including contracts and subcontracts [2] - Allegations include overstating QCI's progress in developing a thin film lithium niobate (TFLN) foundry and the scale of its operations [2] - The complaint suggests that QCI's business dealings with Quad M and millionways were related party transactions, which were not disclosed [2] - It is asserted that QCI's revenues were partially dependent on these undisclosed related party transactions [2] - The lawsuit indicates that the revelations of these issues could significantly harm QCI's business and reputation [2] - Overall, the defendants' public statements are claimed to have been materially false and misleading throughout the relevant period [2] Next Steps - Investors who suffered losses in Quantum Computing Inc. during the specified timeframe have until April 28, 2025, to request to be appointed as lead plaintiff [3] - Participation in the lawsuit does not require serving as a lead plaintiff, and there are no out-of-pocket costs for class members [3] Why Levi & Korsinsky - Levi & Korsinsky has a history of securing substantial compensation for shareholders and has extensive expertise in complex securities litigation [4] - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as a leading securities litigation firm in the U.S. [4]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - China's venture capital (VC) activity has significantly weakened amid economic uncertainty and escalating tech rivalry with the US, leading to a decline in private investment across key deep-tech sectors. In response, a state-backed high-tech fund was introduced in March 2025, aiming to inject 1 trillion yuan (approximately $138 billion) over 20 years to revitalize innovation and strengthen the high-tech VC ecosystem in China [3][4][5] - The fund will allocate capital across various sectors, with expected positive impacts in AI & ML and semiconductors, although there are concerns about potential crowding out of private capital. In contrast, sectors like quantum computing and hydrogen energy remain heavily state-driven, limiting VC participation [3][4][5] - The success of the high-tech fund hinges on its ability to integrate private capital effectively. If structured well, it could stabilize the deep-tech VC ecosystem; however, if dominated by state-backed firms, private investors may remain cautious, limiting the fund's long-term impact on innovation and market growth [3][5][58] Summary by Sections Key Takeaways - China's VC activity has weakened, prompting the introduction of a high-tech fund to inject 1 trillion yuan over 20 years to counteract declining private capital flows [3] - The fund's impact will vary across sectors, with potential revitalization in AI & ML but risks of crowding out in semiconductors [3][4] - Past state investment programs indicate that government-linked firms may be favored, posing risks of capital misallocation and restricted private market participation [3][5] China's Strategic Push for High-Tech Leadership - The high-tech fund aims to accelerate innovation in critical industries, including AI, quantum computing, semiconductors, and clean energy, amidst geopolitical tensions and economic challenges [4][7] - The fund's introduction reflects China's urgency to achieve technological self-sufficiency and maintain strategic autonomy in high-tech sectors [4][8] More About the Fund and Its Impact on Private Markets - The high-tech fund will deploy capital across multiple strategic sectors, unlike previous state investment programs that focused on single industries [10] - The fund's structure and execution will determine whether it creates new opportunities for VC and PE investors or follows past patterns of government-driven capital misallocation [5][10] Comparing the High-Tech Fund with the Big Fund - The high-tech fund is designed to support a broader range of industries compared to the Big Fund, which primarily focused on semiconductors [50][52] - The Big Fund's experience highlights risks such as crowding out of private investment and capital misallocation, which could also emerge with the high-tech fund if it favors SOEs [50][58] Concluding Thoughts - The high-tech fund's success will depend on effective capital allocation and the ability to attract private investment, as the current VC landscape in China faces significant challenges [61][64] - Without clear governance and market-based incentives, there is a risk that the fund may replicate past state-led initiatives, limiting private investor participation [64]

Core Insights - Quantum computing is attracting significant investor interest due to its potential to surpass current supercomputers, leading to advancements in various fields such as climate modeling and artificial intelligence [1] - McKinsey estimates that the revenue from quantum computing could reach trillions of dollars in the next decade, with IonQ being a notable beneficiary, experiencing a 127% increase in share price over the past year [2] Company Performance - IonQ reported a 95% increase in revenue for 2024, reaching $43.1 million, and secured $95.6 million in new bookings, a 47% increase from the previous year [4] - The company anticipates revenue to nearly double to $85 million in the current year, based on management's guidance [4] - IonQ ended the year with a cash balance exceeding $700 million, providing a solid foundation for business expansion [5] Financial Challenges - Despite revenue growth, IonQ recorded a net loss of $331.6 million in 2024, an increase from a loss of approximately $158 million the previous year [5] - The widening losses occur amid economic uncertainty, raising concerns about the company's profitability in the near term [5] Market Conditions - The tech sector is currently facing volatility, with IonQ's share price declining by 44% over the past three months [6] - Economic forecasts indicate a potential recession, with 60% of CFOs believing it will occur this year, which could impact spending on quantum computing services [7] Future Outlook - IonQ's sales growth has been strong during favorable economic conditions, but its performance in a potentially contracting market remains uncertain [8] - The practical applications of quantum computing are still considered speculative, and the high price-to-sales ratio of 109 suggests that the stock may be overvalued in the current market environment [9]

Core Viewpoint - A class action lawsuit has been filed against Quantum Computing Inc. (QUBT) for allegedly misleading investors regarding its technology capabilities and business dealings, particularly with NASA and related party transactions [1][2]. Allegations - The lawsuit claims that QCI overstated its quantum computing technologies, its relationship with NASA, and the progress of its TFLN foundry [2]. - It is alleged that QCI's revenues were partially based on undisclosed related party transactions, which could significantly harm the company's reputation once revealed [2]. - A report by Capybara Research accused QCI of fabricating revenues and overstating ties to NASA, leading to a significant drop in stock price [3]. Stock Impact - Following the allegations, QCI's stock price fell by $1.72, or 14.89%, closing at $9.83 per share on January 17, 2025 [3]. Class Action Participation - Shareholders interested in participating as lead plaintiffs must file by April 28, 2025, but can remain absent class members without taking action [4]. Legal Representation - Robbins LLP operates on a contingency fee basis, meaning shareholders incur no fees or expenses unless the case is won [5].

Core Insights - Rigetti Computing has been selected to participate in DARPA's Quantum Benchmarking Initiative (QBI) to assess the feasibility of achieving utility-scale quantum computing by 2033 [1][4] - The company aims to develop a Utility-Scale Quantum Computer (USQC) using its proprietary multi-chip architecture and scalable quantum error correction (QEC) codes, in collaboration with Riverlane [2][3] Group 1: DARPA QBI Participation - The QBI will evaluate quantum computing concepts through a multi-stage approach, with Rigetti advancing to Stage A, which includes a 6-month performance period and potential funding of up to $1 million [1] - The initiative's goal is to determine if any quantum computing approach can achieve utility-scale operation by 2033 [1] Group 2: Technology and Collaboration - Rigetti's USQC concept will utilize Quantum Low Density Parity Check (qLDPC) codes, which are more efficient than traditional surface codes, allowing for better scalability and reduced physical qubit overhead [3] - Riverlane, a partner specializing in QEC technology, will assist in refining and validating Rigetti's USQC concept [2] Group 3: Company Expertise and Roadmap - Rigetti has spent a decade developing intellectual property and expertise in quantum computing, positioning itself to deliver on the QBI program [4] - The company has made significant advancements in superconducting qubit technology, including a novel chip fabrication technique called Alternating Bias Assisted Annealing (ABAA) [4][5] - Rigetti's current 84-qubit Ankaa-3 system demonstrates a 99.0% ISWAP gate fidelity, with plans to scale to over 100 qubits while reducing error rates by 50% [5]