Latest news with #RigettiQuantumCloudServices
Yahoo
4 days ago
- Business
- Yahoo
Rigetti Computing unveils 36-qubit system on cloud platforms
Rigetti Computing, a US-based firm specialising in quantum technology, has announced the general availability of its 36-qubit multi-chip system, Cepheus-1-36Q. The system is now accessible on Rigetti Quantum Cloud Services (QCS) and will soon be available on Microsoft Azure. According to Rigetti, this machine features the largest number of chiplets ever integrated into a quantum computer, leveraging four separate chips. The Cepheus-1-36Q system is claimed to deliver a 2x reduction in two-qubit gate error rate compared to its predecessor, the Ankaa-3 system. It achieves a median two-qubit gate fidelity of 99.5%. Key enhancements in the new system include a proprietary chiplet-based architecture that replaces monolithic chips. This approach yields better chip uniformity and performance through reduced manufacturing complexity and improved fabrication yield. Rigetti stated that optimised two-qubit gates contribute to faster gate times while reducing coherent errors, enhancing overall fidelity which is critical for executing quantum error correction. The company said that these technological improvements have facilitated its goal of introducing a 100+ qubit system by the end of 2025 with similar fidelity metrics. Rigetti CEO Subodh Kulkarni said: 'It's our view that superconducting qubits are the leading modality for quantum computers due to their ability to scale, and their ability to achieve gate speeds more than 1,000 times faster than other modalities like ion traps and pure atoms. 'Rigetti's superconducting qubits leverage technologies, like chiplets, that have been maturing in the semiconductor industry for decades, enabling Rigetti to use well-established methods to scale to higher performance and qubit counts.' Last month, Rigetti announced it had reached its mid-year performance milestone of 99.5% median two-qubit gate fidelity with its modular 36-qubit system, doubling the error reduction seen in their previous single-chip Ankaa-3 system. This 36-qubit setup comprises four 9-qubit chiplets and represents an essential step towards the company's larger objectives. Financially, Rigetti reported a net loss of $39.7m for the second quarter ending 30 June 2025, with total revenues reaching $1.8m for the same period. "Rigetti Computing unveils 36-qubit system on cloud platforms" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Yahoo
4 days ago
- Business
- Yahoo
RGTI Stock Down Despite Q2 Earnings Top Estimates, Revenues Decline Y/Y
Rigetti Computing RGTI reported second-quarter 2025 adjusted loss per share of 5 cents, narrower than the loss per share of 7 cents in the prior-year quarter. The metric also surpassed the Zacks Consensus Estimate of earnings by 16.7%. GAAP loss per share in the reported quarter was 13 cents compared with the loss per share of 7 cents in the prior-year quarter. Shares of this company lost nearly 2.6% in today's pre-market hours. The company's shares have gained 3% in the year-to-date period compared with the industry's growth of 20.5%. The broader S&P 500 Index has increased 8.2% in the same time frame. Image Source: Zacks Investment Research Rigetti's Revenue Details The company reported total revenues of $1.8 million, down 41.6% year over year. The top line missed the Zacks Consensus Estimate by 5.7%. Per management, on a year-over-year basis, quarterly revenue was impacted by the expiration of the U.S. National Quantum Initiative and the pending reauthorization in the U.S. Congress. The renewal of this initiative, along with sales to the United States and international government entities and contributions from Novera, will be critical to driving future growth. RGTI's Technology Updates Per the company's second-quarter earnings release, Rigetti has launched its Cepheus-1-36Q, the industry's largest multi-chip quantum computer, for general availability on the Rigetti Quantum Cloud Services platform, with availability on Microsoft Azure to follow. The system delivers a median two-qubit gate fidelity of 99.5%, reflecting a two-fold reduction in two-qubit gate error rates compared to the prior Ankaa-3 system. With four chiplets, Cepheus-1-36Q contains the highest number of chiplets in any quantum computer to date, reinforcing Rigetti's chiplet-based scaling strategy. The Cepheus-1-36Q incorporates proprietary architecture that improves chip uniformity, reduces manufacturing complexity, and enhances fabrication yield. Optimized two-qubit gates enable faster operation while lowering coherent errors, and advancements in intermodule coupler design further boost performance. Rigetti, which introduced the world's first multi-chip quantum processor in 2021, plans to build on this platform with the release of a 100+ qubit chiplet-based system at 99.5% median two-qubit gate fidelity before the end of 2025. RGTI's Margin Trend In the quarter under review, RGTI's gross profit declined 71.6% year over year to $0.6 million. The gross margin significantly contracted 3310 basis points to 31.4%. Per management, the year-over-year decline in gross margin was impacted by revenue mix and pricing variability in development contracts, including those with the U.K.'s National Quantum Computing Centre for Quantum Systems, which carry lower margins compared to most other revenue streams. Selling, general and administrative expenses increased 11.6% year over year to $6.9 million. Research and development expenses increased 13.9% year over year to $13.5 million. Total operating expenses of $20.4 million increased 13.1% year over year. Operating loss for the quarter under review totaled $19.9 million compared with $16.1 million in the prior-year quarter. Rigetti Computing, Inc. Price, Consensus and EPS Surprise Rigetti Computing, Inc. price-consensus-eps-surprise-chart | Rigetti Computing, Inc. Quote RGTI's Financial Position RGTI exited the second quarter of 2025 with cash, cash equivalents and short-term available-for-sale investments of $425.7 million compared with $209.1 million at the end of the first quarter. The company ended the quarter with no debts on its balance sheet. Cumulative net cash used in operating activities at the end of the second quarter was $29.8 million compared with $26.7 million a year ago. Our Take RGTI exited second-quarter 2025 results on a mixed note, where its earnings surpassed the Zacks Consensus Estimate while revenues missed the same. Continued decline in revenues and gross margin does not bode well for the stock. Increased operating loss also seems a matter of concern. However, Rigetti continues to advance its technology roadmap, highlighted by the launch of its Cepheus-1-36Q, now available on its cloud platform and soon on Microsoft Azure. The system delivers significantly improved fidelity and reduced error rates over its predecessor, underscoring the strength of Rigetti's chiplet-based scaling strategy. Supporting these technological strides, the company maintains a solid financial position with a strengthened cash balance, no debt on its books, and disciplined operating cash flow management. Zacks Rank and Stocks to Consider RGTI carries a Zacks Rank #3 (Hold) at present. Some better-ranked stocks in the broader medical space that have announced quarterly results are Medpace Holdings, Inc. MEDP, West Pharmaceutical Services, Inc. WST and Boston Scientific Corporation BSX. Medpace Holdings, sporting a Zacks Rank of 1 (Strong Buy), reported second-quarter 2025 EPS of $3.10, beating the Zacks Consensus Estimate by 3.3%. Revenues of $603.3 million outpaced the consensus mark by 11.5%. You can see the complete list of today's Zacks #1 Rank stocks here. Medpace Holdings has a long-term estimated growth rate of 11.4%. MEDP's earnings surpassed estimates in each of the trailing four quarters, the average surprise being 13.9%. West Pharmaceutical reported second-quarter 2025 adjusted EPS of $1.84, beating the Zacks Consensus Estimate by 21.9%. Revenues of $766.5 million surpassed the Zacks Consensus Estimate by 5.4%. It currently flaunts a Zacks Rank #1. West Pharmaceutical has a long-term estimated growth rate of 8.5%. WST's earnings surpassed estimates in each of the trailing four quarters, the average surprise being 16.8%. Boston Scientific reported second-quarter 2025 adjusted EPS of 75 cents, beating the Zacks Consensus Estimate by 4.2%. Revenues of $5.06 billion surpassed the Zacks Consensus Estimate by 3.5%. It currently carries a Zacks Rank #2 (Buy). Boston Scientific has a long-term estimated growth rate of 14%. BSX's earnings surpassed estimates in each of the trailing four quarters, the average surprise being 8.1%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Boston Scientific Corporation (BSX) : Free Stock Analysis Report West Pharmaceutical Services, Inc. (WST) : Free Stock Analysis Report Medpace Holdings, Inc. (MEDP) : Free Stock Analysis Report Rigetti Computing, Inc. (RGTI) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
16-07-2025
- Business
- Yahoo
Rigetti Demonstrates Industry's Largest Multi-Chip Quantum Computer; Halves Two-Qubit Gate Error Rate
BERKELEY, Calif., July 16, 2025 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (Nasdaq: RGTI) ('Rigetti' or the 'Company'), a pioneer in full-stack quantum-classical computing, today announced that it has achieved its mid-year performance milestone of 99.5% median two-qubit gate* fidelity on its modular 36-qubit system, a 2x reduction in median two-qubit gate error rate from Rigetti's previous best results on its 84-qubit single chip Ankaa™-3 system. Composed of four 9-qubit chips ('chiplets') tiled together, the 36-qubit system is based on Rigetti's proprietary modular chip technology and unlocks the Company's path to building a 100+ qubit chiplet-based system. Rigetti plans to launch its 36-qubit system on August 15, and remains on track to release its 100+ qubit chiplet-based system at 99.5% median two-qubit gate fidelity before the end of 2025. 'We benefit from the many advantages of superconducting qubits, including gate speeds more than 1,000x faster than other modalities like ion trap and pure atoms, and scalability. By leveraging well-known techniques from the semiconductor industry, we've developed proprietary technology that we believe is critical to enable scaling to higher qubit count systems,' says Dr. Subodh Kulkarni, Rigetti CEO. 'We look forward to sharing more updates when we release our operating results for the second quarter of 2025.' *Rigetti implemented CZ gates, which are a commonly used two-qubit gate for executing quantum circuits and have equivalent computational power to iSWAP gates. About RigettiRigetti is a pioneer in full-stack quantum computing. The Company has operated quantum computers over the cloud since 2017 and serves global enterprise, government, and research clients through its Rigetti Quantum Cloud Services platform. In 2021, Rigetti began selling on-premises quantum computing systems with qubit counts between 24 and 84 qubits, supporting national laboratories and quantum computing centers. Rigetti's 9-qubit Novera™ QPU was introduced in 2023 supporting a broader R&D community with a high-performance, on-premises QPU designed to plug into a customer's existing cryogenic and control systems. The Company's proprietary quantum-classical infrastructure provides high-performance integration with public and private clouds for practical quantum computing. Rigetti has developed the industry's first multi-chip quantum processor for scalable quantum computing systems. The Company designs and manufactures its chips in-house at Fab-1, the industry's first dedicated and integrated quantum device manufacturing facility. Learn more at Rigetti Computing Media Contact:press@ Cautionary Language Concerning Forward-Looking StatementsCertain statements in this communication may be considered 'forward-looking statements' within the meaning of the federal securities laws, including statements with respect to the Company's expectations with respect to its future success and performance, including expectations that the performance milestone unlocks the Company's path to building a 100+ qubit chiplet-based system, expectations to launch its 36-qubit system on August 15, expectations to release its 100+ qubit chiplet-based system at 99.5% median two-qubit gate fidelity before the end of 2025, expectations to benefit from the advantages of superconducting qubits, the belief that the developed proprietary technology is critical to enable scaling to higher qubit count systems, the belief that Rigetti's demonstration is the largest multi-chip quantum computer, and the potential of the Company's business and quantum computing generally. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by the Company and its management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: the Company's ability to achieve milestones, technological advancements, including with respect to its technology roadmap; the ability of the Company to obtain government contracts successfully and in a timely manner and the availability of government funding; the potential of quantum computing; the success of the Company's partnerships and collaborations, including the strategic collaboration with Quanta; the Company's ability to accelerate its development of multiple generations of quantum processors; the outcome of any legal proceedings that may be instituted against the Company or others; the ability to maintain relationships with customers and suppliers and attract and retain management and key employees; costs related to operating as a public company; changes in applicable laws or regulations; the possibility that the Company may be adversely affected by other economic, business, or competitive factors; the Company's estimates of expenses and profitability; the evolution of the markets in which the Company competes; the ability of the Company to implement its strategic initiatives and expansion plans; the expected use of proceeds from the Company's past and future financings or other capital; the sufficiency of the Company's cash resources; unfavorable conditions in the Company's industry, the global economy or global supply chain, including rising inflation and interest rates, deteriorating international trade relations, political turmoil, natural catastrophes, warfare and terrorist attacks; and other risks and uncertainties set forth in the section entitled 'Risk Factors' and 'Cautionary Note Regarding Forward-Looking Statements' in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 and other documents filed by the Company from time to time with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements other than as required by applicable law. The Company does not give any assurance that it will achieve its in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11-06-2025
- Business
- Yahoo
Rigetti Computing Completes $350 Million At-the-Market Equity Offering
BERKELEY, Calif., June 11, 2025 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (Nasdaq: RGTI) ('Rigetti' or the 'Company'), a pioneer in full-stack quantum-classical computing, today announced that it has completed sales of $350 million gross proceeds of its common stock pursuant to its previously disclosed at-the-market equity offering program. With this additional funding, Rigetti will have approximately $575 million of cash, cash equivalents and available-for-sale investments with no debt, and is well positioned to support commercial scale-up of its superconducting gate-based quantum computers. Rigetti intends to use the proceeds from the offering primarily for working capital, capital expenditures and other general corporate purposes, and may also use a portion of the net proceeds to enter into strategic collaborations, acquisitions or partnerships in the future. About Rigetti Rigetti is a pioneer in full-stack quantum computing. The Company has operated quantum computers over the cloud since 2017 and serves global enterprise, government, and research clients through its Rigetti Quantum Cloud Services platform. In 2021, Rigetti began selling on-premises quantum computing systems with qubit counts between 24 and 84 qubits, supporting national laboratories and quantum computing centers. Rigetti's 9-qubit Novera QPU was introduced in 2023 supporting a broader R&D community with a high-performance, on-premises QPU designed to plug into a customer's existing cryogenic and control systems. The Company's proprietary quantum-classical infrastructure provides high-performance integration with public and private clouds for practical quantum computing. Rigetti has developed the industry's first multi-chip quantum processor for scalable quantum computing systems. The Company designs and manufactures its chips in-house at Fab-1, the industry's first dedicated and integrated quantum device manufacturing facility. Learn more at Rigetti Computing Media Contact press@ Cautionary Language Concerning Forward-Looking Statements Certain statements in this communication may be considered 'forward-looking statements' within the meaning of the federal securities laws, including statements with respect to the Company's expectations with respect to its future success and performance, including expectations with respect to its use of funds, business strategy, and being well-positioned to support commercial scale-up of its superconducting gate-based quantum computers, and the potential of the Company's business and quantum computing generally. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by the Company and its management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: the Company's ability to achieve milestones, technological advancements, including with respect to its technology roadmap; the ability of the Company to obtain government contracts successfully and in a timely manner and the availability of government funding; the potential of quantum computing; the success of the Company's partnerships and collaborations, including the strategic collaboration with Quanta; the Company's ability to accelerate its development of multiple generations of quantum processors; the outcome of any legal proceedings that may be instituted against the Company or others; the ability to maintain relationships with customers and suppliers and attract and retain management and key employees; costs related to operating as a public company; changes in applicable laws or regulations; the possibility that the Company may be adversely affected by other economic, business, or competitive factors; the Company's estimates of expenses and profitability; the evolution of the markets in which the Company competes; the ability of the Company to implement its strategic initiatives and expansion plans; the expected use of proceeds from the Company's past and future financings or other capital; the sufficiency of the Company's cash resources; unfavorable conditions in the Company's industry, the global economy or global supply chain, including rising inflation and interest rates, deteriorating international trade relations, political turmoil, natural catastrophes, warfare and terrorist attacks; and other risks and uncertainties set forth in the section entitled 'Risk Factors' and 'Cautionary Note Regarding Forward-Looking Statements' in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 and other documents filed by the Company from time to time with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements other than as required by applicable law. The Company does not give any assurance that it will achieve its in to access your portfolio
Business Insider
25-05-2025
- Business
- Business Insider
IONQ, RGTI, or QBTS: Which Quantum Computing Stock Is the Most Attractive Pick?
Quantum computing is in the very early phase of its development, but is gaining a lot of attention, given that quantum computers leverage quantum mechanics to solve complex problems that classical computers can't solve, or can't solve fast enough. Using TipRanks' Stock Comparison Tool, we placed IonQ (IONQ), Rigetti Computing (RGTI), and D-Wave Quantum (QBTS) against each other to find the most attractive quantum computing stock, according to Wall Street analysts. Confident Investing Starts Here: IonQ Inc. (NYSE:IONQ) IonQ is developing trapped-ion quantum computers for commercial, industrial, and academic applications. Earlier this month, the company reported nearly flat revenues for the first quarter of 2025 but a lower-than-anticipated loss per share. Interestingly, IONQ stock has rallied 70.5% over the past month and has risen 9.4% year-to-date. Investors are bullish on the company's prospects, backed by some strategic deals and acquisitions made recently. Moreover, IONQ stock jumped 36% on Thursday after CEO Niccolo de Masi said in an interview with Barron's that IonQ could become the Nvidia (NVDA) of quantum computing, triggering optimism among investors. Is IonQ a Good Stock to Buy? Following the Q1 print, Benchmark analyst David Williams reiterated a Buy rating on IONQ stock with a price target of $40. The top-rated analyst noted that IONQ's Q1 results were marked by continued commercialization progress and further expansion of its networking portfolio. Moreover, the top line reflected traction across existing and new partnerships, as the company executes on its roadmap and capitalizes on adjacent opportunities. He added that IonQ's Lightsynq and Capella Space acquisitions build on the recent Qubitekk and ID Quantique deals, giving the company a vertically-integrated quantum networking stack from data center to the edge and terrestrial to satellite-based communication links. While Williams acknowledges that the time horizon for these capabilities to become integrated into the quantum computer is well into the future, they represent lucrative revenue verticals in the near and intermediate term while also providing access to markets and technologies to further develop the quantum computing ecosystem. Wall Street has a Strong Buy consensus rating on IonQ stock based on four Buys and one Hold recommendation. At $40, the average IONQ stock price target implies a downside risk of 12.5% from current levels. Rigetti Computing (NASDAQ:RGTI) Rigetti Computing claims to be a pioneer in full-stack quantum computing. The company serves global enterprise, government, and research customers via its Rigetti Quantum Cloud Services platform. RGTI has secured key government-funded projects in the U.S. and the UK to advance its technology. While Rigetti Computing stock has surged 54% over the past month, it is down 8.1% on a year-to-date basis. Notably, Rigetti Computing delivered disappointing top-line for the first quarter, with revenue plunging 52% year-over-year to $1.5 million. While the company swung to a profit in Q1 2025 from a loss in the prior-year quarter, it was due to non-cash gains from the change in fair value of derivative warrants and earn-out liabilities. Nonetheless, management is confident about the road ahead, supported by nearly $238 million in cash, cash equivalents, and available-for-sale investments after a recent strategic investment from Quanta Computer. What Is the Price Target for RGTI Stock? Recently, Benchmark's Williams reiterated a Buy rating on Rigetti Computing stock with a price target of $14. The 5-star analyst said that he remains confident about RGTI's technology roadmap and its consistent advancement toward meeting 'internal fidelity goals.' He believes that RGTI's superconducting methodology and modular architecture give it an edge in solving the scalability issue encountered by gate-based systems. Williams contends that although RGTI projects a slower timeline for mass adoption versus its rivals, growing interest in QPU (quantum processing unit) hardware sales offers near-term revenue potential ahead of wider quantum uptake. He is encouraged by consistent execution across every element of the technology platform, with 'fidelity standing as the key remaining obstacle to realizing quantum advantage.' Despite RGTI's cautious outlook, Williams believes that the company is strategically positioned with a compelling architecture, significant IP moat, and strong balance sheet to support its initiatives. RGTI stock price target of $15 implies about 7% upside potential from current levels. D-Wave Quantum (NYSE:QBTS) D-Wave Quantum Inc. claims to be the only company in the world that is building both annealing and gate-model quantum computers, with a focus on unlocking commercial use cases in optimization. The company recently reported impressive first-quarter results, delivering a 509% year-over-year jump in revenue to $15 million. CEO Dr. Alan Baratz stated that Q1 2025 was 'arguably the most significant in D-Wave's history.' Notably, the company recognized revenue on the sale of its first Advantage system to a major research institution in the quarter and became the first company to demonstrate quantum supremacy over classical computing on a real-world problem. QBTS stock also rallied earlier this week when the company announced that its sixth-generation Advantage2 system can be accessed via its Leap cloud platform. Overall, D-Wave Quantum stock has skyrocketed about 124% so far in 2025. Is QBTS Stock a Buy, Sell, or Hold? On May 21, B. Riley analyst Craig Ellis reiterated a Buy rating on D-Wave Quantum stock. Following the announcement related to the general availability of the company's Advantage2 quantum computer, the 5-star analyst noted that the sixth-gen machine's availability impresses with expected timing and shows solid gains in qubit connectivity to 20-way action to enable more complex problems, a 40% rise in energy scale and 75% reduction in noise for higher quality complex calculation solutions, and a 2x coherence boost for faster time to solution. He contended that while QBTS Bears point out that some of the information in the announcement was not entirely new, Bulls think that the update shows that the company is executing on its product roadmap, progressing deeper into the commercialization zone. Overall, Wall Street has a Strong Buy consensus rating on D-Wave Quantum stock based on six unanimous Buys. The average QBTS stock price target of $13 implies a possible downside of about 31%. Conclusion Wall Street is highly bullish on all three quantum computing stocks discussed here, as reflected in the Strong Buy rating. However, following the solid year-to-date rally, they see downside risk in IONQ and QBTS stocks. Meanwhile, RGTI stock scores unanimous Buys from all the analysts covering the stock, who are looking beyond the decline in Q1 revenue and are confident about the company's growth potential. They see the year-to-date pullback in RGTI stock as a buying opportunity. Nonetheless, investors should be aware of the high risk and volatility associated with quantum computing stocks before investing in them.
