Core Insights - Rigetti Computing, Inc. (NASDAQ:RGTI) is recognized as one of the 12 best performing stocks over the last three months, with a Buy rating reiterated by Craig-Hallum analyst Richard Shannon [1] - The company announced its support for NVQLink, NVIDIA Corporation's new open platform for integrating AI supercomputing with quantum computers [1][2] Group 1: Company Developments - Rigetti Computing showcased its work with NVQLink at the Quantum Computing Pavilion during NVIDIA GTC in Washington, D.C., where attendees witnessed a full-scale demonstration of its quantum computer [2] - NVQLink integrates quantum processors and control systems with NVIDIA's AI supercomputing, facilitating low-latency, high-throughput connectivity between CPUs, GPUs, and quantum processing units [3] - This collaboration aims to accelerate the development of hybrid quantum-classical applications and enhance quantum supercomputers [3] Group 2: Company Overview - Rigetti Computing is a full-stack quantum computing company that develops quantum computing systems and processors, operating quantum computers via the cloud [4] - The company provides services to businesses, governments, and researchers through its Rigetti Quantum Cloud Services platform [4]

Core Insights - Rigetti Computing is collaborating with NVIDIA to support NVQLink, an open platform for integrating AI supercomputing with quantum computers [1][4] - The integration aims to enhance hybrid quantum-classical computing capabilities, leveraging Rigetti's superconducting qubits for fast gate speeds and scalability [3][4] Company Overview - Rigetti Computing is a pioneer in full-stack quantum computing, operating quantum computers over the cloud since 2017 and offering on-premises systems with qubit counts between 24 and 84 [6] - The company introduced its 9-qubit Novera™ QPU in 2023, designed for high-performance integration with existing cryogenic and control systems [6] Technological Developments - NVQLink provides low latency and high throughput connectivity between CPUs, GPUs, and QPUs, facilitating the development of hybrid quantum-classical applications [4] - The collaboration with NVIDIA builds on previous efforts to utilize AI tools for quantum computing operations, including the successful calibration of a Novera™ QPU with NVIDIA DGX Quantum [5]

Core Insights - Rigetti Computing is collaborating with NVIDIA to support NVQLink, an open platform for integrating AI supercomputing with quantum computers [1][4] - The integration aims to enhance hybrid quantum-classical computing by providing low latency and high throughput connectivity between CPUs, GPUs, and quantum processing units (QPUs) [4][6] Company Overview - Rigetti Computing is a pioneer in full-stack quantum computing, operating quantum computers over the cloud since 2017 and offering on-premises systems with qubit counts between 24 and 84 [6] - The company has developed the industry's first multi-chip quantum processor and manufactures its chips in-house at its dedicated facility [6] Technological Advancements - Rigetti's quantum processors utilize superconducting qubits, making them suitable for hybrid systems due to their fast gate speeds and scalability [3] - The collaboration with NVIDIA builds on previous efforts to leverage AI tools for quantum computing operations, demonstrating successful calibration of quantum processing units [5] Industry Context - The integration of quantum and classical computing systems is seen as essential for achieving utility-scale quantum computing [3][4] - NVQLink is positioned as a resource to accelerate the development of hybrid quantum-classical applications and supercomputers [4]

Core Insights - Rigetti Computing, Inc. will release its third quarter 2025 financial results on November 10, 2025, after market close [1] - A conference call to discuss the results and business operations will take place on November 11, 2025, at 8:30 am ET [1] Company Overview - Rigetti is a pioneer in full-stack quantum computing, operating quantum computers over the cloud since 2017 [4] - The company serves global enterprise, government, and research clients through its Rigetti Quantum Cloud Services platform [4] - In 2021, Rigetti began selling on-premises quantum computing systems with qubit counts ranging from 24 to 84 [4] - The 9-qubit Novera™ QPU was introduced in 2023, designed for high-performance, on-premises use [4] - Rigetti has developed the industry's first multi-chip quantum processor for scalable quantum computing systems [4] - The company designs and manufactures its chips in-house at Fab-1, the first dedicated and integrated quantum device manufacturing facility [4]

Core Insights - Rigetti Computing has been awarded a three-year contract worth $5.8 million from the Air Force Research Laboratory (AFRL) to advance superconducting quantum networking [1] - The project will involve collaboration with QphoX, a Dutch startup specializing in frequency conversion systems for quantum applications [1] Group 1: Quantum Networking Potential - Quantum networking is being explored for revolutionary applications such as distributed quantum computing and the development of a secure quantum internet [2] - Similar to classical high-performance computing (HPC), quantum networks can scale larger quantum computing systems by networking smaller systems to solve complex problems [2] - The ability to transmit information between quantum nodes across different geographical regions is a significant advantage of quantum networking [2] Group 2: Technical Challenges and Solutions - A major challenge in networking superconducting quantum computers is converting microwave signals used to control superconducting qubits into optical photons for long-distance transmission [3] - The project aims to create systems that enable entanglement between superconducting qubits and optical photons, which are essential for quantum networking [3][4] - Rigetti and QphoX will combine their technologies to convert microwave photons to optical photons while preserving their quantum characteristics [4] Group 3: Strategic Importance and Collaboration - The collaboration between Rigetti, QphoX, and AFRL is seen as a critical step towards advancing superconducting quantum networking [5] - AFRL's focus on developing heterogeneous quantum interconnects is aimed at integrating various quantum technologies, which could transform research and operational capabilities for the Air Force and Department of Defense [6] - The partnership is expected to enhance the U.S.'s leadership in quantum information science [5]

Core Viewpoint - Rigetti Computing has signed a Memorandum of Understanding (MOU) with the Centre for Development of Advanced Computing (C-DAC) to co-develop hybrid quantum computing systems aimed at enhancing India's capabilities in quantum computing research and development [1][2][4]. Group 1: Collaboration Details - The partnership aims to leverage C-DAC's expertise in high-performance computing and Rigetti's superconducting quantum computing systems to create advanced hybrid computing technologies [2][3]. - The collaboration will focus on the design and development of hybrid quantum computing systems, exploring use cases, application workflows, and workforce development activities [4][6]. Group 2: Technological Advancements - Rigetti's quantum processors, utilizing superconducting qubits, are noted for their speed and scalability, being over 1,000 times faster than other qubit types [5]. - Rigetti has demonstrated the industry's largest multi-chip quantum computer, Cepheus™-1-36Q, and is advancing towards a 100+ qubit chiplet-based system by the end of 2025 [5]. Group 3: Market Context - The quantum computing market is significantly supported by government initiatives, with global investments reaching $1.8 billion in 2024, accounting for 66% of total investments, and early 2025 investments already exceeding $10 billion [6]. - C-DAC is involved in several national projects in quantum technologies, including the development of quantum accelerators and a national quantum computing reference facility [11].

Core Insights - Rigetti Computing has entered a collaboration with Montana State University (MSU) to enhance quantum computing research and innovation [2][5] - The opening of QCORE, MSU's new research center, features a 9-qubit Novera QPU, marking MSU as the first academic institution with an on-premises Rigetti quantum computer [2][4] - The partnership aims to focus on various initiatives, including research on quantum hardware, workforce development, and co-development of quantum technologies [5][6] Company Overview - Rigetti is recognized as a pioneer in full-stack quantum computing, having operated quantum computers over the cloud since 2017 [7] - The company began selling on-premises quantum computing systems in 2021, with qubit counts ranging from 24 to 84 [7] - Rigetti's Novera QPU, introduced in 2023, is designed for high-performance integration with existing systems and supports a broader R&D community [7] Strategic Initiatives - The collaboration with MSU will include strategic and technical support for QCORE, emphasizing the importance of public-private partnerships in advancing quantum technologies [5][6] - Rigetti's research efforts will also involve partnerships with the Air Force Research Lab to develop customized quantum systems for networking hardware [6] - The Novera QPU is manufactured at Rigetti's Fab-1, the first dedicated quantum device manufacturing facility in the industry [6][7]

Core Insights - Rigetti Computing (RGTI) reported a second-quarter 2025 adjusted loss per share of 5 cents, an improvement from the 7 cents loss per share in the same quarter last year, and exceeded the Zacks Consensus Estimate by 16.7% [1][7] - The company's total revenues were $1.8 million, reflecting a year-over-year decline of 41.6% and missing the Zacks Consensus Estimate by 5.7% [4][7] - Rigetti launched its Cepheus-1-36Q, the largest multi-chip quantum computer, which features a median two-qubit gate fidelity of 99.5%, significantly improving upon its predecessor [6][9] Revenue and Financial Performance - The revenue decline was attributed to the expiration of the U.S. National Quantum Initiative and the pending reauthorization in Congress, with future growth dependent on the renewal of this initiative and sales to government entities [5] - Gross profit fell 71.6% year over year to $0.6 million, with gross margin contracting 3310 basis points to 31.4% due to revenue mix and pricing variability in development contracts [10] - Operating expenses increased, with selling, general and administrative expenses rising 11.6% to $6.9 million and research and development expenses increasing 13.9% to $13.5 million, leading to an operating loss of $19.9 million compared to $16.1 million in the prior-year quarter [11] Financial Position - At the end of the second quarter, Rigetti had cash, cash equivalents, and short-term investments totaling $425.7 million, up from $209.1 million at the end of the first quarter, with no debts on its balance sheet [12] - Cumulative net cash used in operating activities was $29.8 million, compared to $26.7 million a year ago [12] Technology Developments - The Cepheus-1-36Q incorporates proprietary architecture that enhances chip uniformity and reduces manufacturing complexity, with plans for a 100+ qubit chiplet-based system by the end of 2025 [9][14] - The advancements in two-qubit gates and intermodule coupler design are expected to further improve performance [9]

Company Overview - Rigetti Computing, Inc. is a pioneer in hybrid quantum-classical computing and has been operating quantum computers over the cloud since 2017 [4] - The company serves global enterprise, government, and research clients through its Rigetti Quantum Cloud Services platform [4] - Rigetti began selling on-premises quantum computing systems in 2021, with qubit counts ranging from 24 to 84 [4] - The company introduced its 9-qubit Novera™ QPU in 2023, designed for high-performance integration into existing cryogenic and control systems [4] - Rigetti has developed the industry's first multi-chip quantum processor for scalable quantum computing systems [4] - The company designs and manufactures its chips in-house at Fab-1, the first dedicated and integrated quantum device manufacturing facility in the industry [4] Upcoming Financial Results - Rigetti will release its second quarter 2025 results on August 12, 2025, after market close [1] - A conference call will be held at 5:00 p.m. ET on the same day to discuss financial results and provide business updates [1] - The call can be accessed via a live audio webcast, with a replay available for one year [2]

Core Insights - Rigetti Computing has achieved a mid-year performance milestone of 99.5% median two-qubit gate fidelity on its modular 36-qubit system, marking a 2x reduction in median two-qubit gate error rate compared to its previous best results on the 84-qubit Ankaa™-3 system [1] - The 36-qubit system, composed of four 9-qubit chiplets, is based on proprietary modular chip technology and is set to launch on August 15, 2025, with plans for a 100+ qubit chiplet-based system by the end of 2025 [1][2] - The company leverages superconducting qubits, which offer gate speeds over 1,000 times faster than other modalities, and has developed proprietary technology to enable scaling to higher qubit count systems [2] Company Overview - Rigetti Computing is a pioneer in full-stack quantum computing, operating quantum computers over the cloud since 2017 and serving various clients through its Rigetti Quantum Cloud Services platform [3] - The company began selling on-premises quantum computing systems in 2021, with qubit counts ranging from 24 to 84, and introduced the 9-qubit Novera™ QPU in 2023 to support R&D communities [3] - Rigetti has developed the industry's first multi-chip quantum processor for scalable systems and manufactures its chips in-house at Fab-1, the first dedicated quantum device manufacturing facility [3]