Rigetti(US:RGTI)2026-01-13 18:47Rigetti Computing FY Conference Summary Company Overview - Company: Rigetti Computing (NasdaqCM:RGTI) - Founded: 2013 - Headquarters: Berkeley, California - Industry: Quantum Computing - Technology: Focus on superconducting qubits, which are considered the leading modality in quantum computing due to scalability and speed [1][4] Key Points and Arguments Quantum Computing Technology - Rigetti's quantum computers utilize superconducting qubits, achieving gate speeds of 50-70 nanoseconds, significantly faster than other modalities like ion traps [1][5] - The company has developed the first multi-chip quantum processor for scalable systems, manufacturing QPUs in-house at Fab 1, the first dedicated quantum device manufacturing facility [1][4] - Over 90% of current investments in quantum computing are in superconducting gate technology, with major players including IBM, Google, and the Chinese government [5] Scalability and Speed - Scalability and gate speed are critical advantages of superconducting technology, with Rigetti's systems operating at speeds comparable to CPUs and GPUs [5][6] - Historical challenges in fidelity for superconducting qubits have improved, with recent advancements showing fidelity rates of 99.5%-99.7% [8] Go-to-Market Strategy - Rigetti has chosen a hybrid approach, selling both physical quantum computers and offering quantum computing as a service [10] - The company tailors its offerings based on customer needs, providing either complete systems or just QPUs depending on existing infrastructure [13][14] Quantum Advantage - Rigetti is conservative in its estimates, projecting that quantum advantage could be achieved in about three years, requiring at least 1,000 qubits, 99.9% fidelity, and 50 nanosecond gate speeds [18][19] - The company emphasizes the importance of demonstrating clear superiority over classical computing in practical applications [19][21] Roadmap and Future Goals - Immediate goal is to deploy a 108-qubit system with 99.5% fidelity and 60-nanosecond gate speed by the end of Q1 2026 [33] - Plans to exceed 150 qubits at 99.7% fidelity within the year, with a long-term goal of reaching 1,000 qubits at 99.8% fidelity by 2027 [35] Partnerships and Collaborations - Rigetti has partnered with various companies for different aspects of its technology stack, including Riverlane for error correction and NVIDIA for distribution layer software [40][41] - The company believes in an open and modular architecture, allowing for integration of innovative solutions from other firms [39] Government Funding and Market Outlook - The U.S. government is expected to increase funding for quantum computing significantly, with recent initiatives indicating a commitment to maintaining leadership in the field [69][70] - Rigetti anticipates that the market for quantum computing will grow to approximately $3 billion by 2030 and $15-$20 billion by 2035 [17] Customer Base and Applications - Current customers include Fermilab, Air Force Research Laboratory, and Montana State University, primarily using systems for research applications [60] - The company does not foresee practical workloads being handled by quantum computers until quantum advantage is achieved [60] Additional Important Insights - Rigetti's balance sheet is strong, with $600 million in cash and no debt, allowing for a focus on organic growth and technology milestones [70] - The company stresses the need for patience in the quantum computing sector, indicating that significant advancements will take time [72]