Rigetti

Rigetti

Cloud-based quantum computing platform provider

About Rigetti

Simplify's Rating
Why Rigetti is rated
C-
Rated C on Competitive Edge
Rated C on Growth Potential
Rated D+ on Differentiation

Industries

Data & Analytics

Hardware

Enterprise Software

AI & Machine Learning

Company Size

51-200

Company Stage

IPO

Headquarters

Berkeley, California

Founded

2013

Overview

Rigetti Computing provides access to quantum computing resources through a cloud platform. It builds quantum processors called quantum processing units (QPUs) that use superconducting qubits to run quantum algorithms remotely. Customers, including researchers, government clients, and businesses, can subscribe to the service to run simulations and algorithms without buying hardware, with some projects combining quantum and classical AI to improve tasks like weather forecasting. What sets Rigetti apart is its emphasis on a cloud-based, subscription model and its work on hybrid quantum-classical machine learning, aiming to make quantum computing practical for real-world problems rather than selling standalone hardware. The company’s goal is to broaden access to quantum computing and apply it to complex challenges such as optimization, drug discovery, and advanced modeling.

YC Company
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Simplify's Take

What believers are saying

  • Cepheus-1-108Q targets 99.5% fidelity by end-2026, deepening circuit capabilities.
  • Government contracts expanding: $8.4M India deal plus University of Saskatchewan deployment.
  • Nvidia quantum tools validation sparks sector momentum; Mizuho forecasts 100% upside potential.

What critics are saying

  • IonQ's $130M revenue dwarfs Rigetti's $1.9M; enterprise customers defect to competitors.
  • Operating losses of $22.6M quarterly exhaust $350M equity raise by mid-2027.
  • Google Willow's error-correction breakthrough renders Rigetti's modular approach technologically obsolete.

What makes Rigetti unique

  • Vertically integrated full-stack: chip design, fabrication, and cloud deployment.
  • Modular chiplet architecture enables scalable 108-qubit systems with 99.1% gate fidelity.
  • Multi-cloud availability via QCS, Amazon Braket, Microsoft Azure, and KubeRay platforms.

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Funding

Total Funding

$1.2B

Above

Industry Average

Funded Over

10 Rounds

Post IPO Equity funding comparison data is currently unavailable. We're working to provide this information soon!
Post IPO Equity Funding Comparison
Coming Soon

Benefits

401k

Equity grant

Medical, dental & vision

Performance-based bonuses

Flexible PTO

Fitness reimbursement

Parental leave

FSA & commuter benefits

EAP

Flexible work schedule

Stock Price

Growth & Insights and Company News

Headcount

6 month growth

-3%

1 year growth

0%

2 year growth

-1%
Yahoo Finance
Apr 13th, 2026
Rigetti bags $8.4M India quantum deal but commercial uptake lags rivals IonQ and IBM

Rigetti Computing reported $1.9 million in fourth-quarter 2025 revenue alongside a $22.6 million operating loss, underscoring the early-stage monetisation challenges in quantum computing. The company's revenue remains heavily dependent on government and research contracts rather than commercial adoption. Rigetti secured an $8.4 million order from India's Centre for Development of Advanced Computing for a 108-qubit system, alongside additional research engagements. However, meaningful enterprise demand remains limited, with most customers still in experimental phases. Competition is intensifying, with IonQ generating $130 million in 2025 revenue, whilst D-Wave Quantum and IBM continue advancing their respective quantum approaches. Year-to-date, Rigetti shares have fallen 33.8%, underperforming the broader tech sector, which declined 17.8%.

Yahoo Finance
Apr 11th, 2026
Rigetti launches Cepheus quantum computer amid $18.2M Q4 loss

Rigetti Computing has launched its Cepheus quantum computer, briefly boosting investor sentiment, though RGTI stock remains in a prolonged downtrend, trading around $15 — 75% below its 52-week high of $58.15. The Berkeley-based company, which provides quantum computing services focused on superconducting processors, reported Q4 2025 revenue of just $1.9 million alongside GAAP net losses of $18.2 million. Its price-to-sales ratio stands at 680 times, reflecting high growth expectations despite ongoing financial difficulties. Rigetti's market capitalisation is approximately $4.75 billion. Whilst the company is developing innovative solutions and attracting interest from government organisations and research facilities, it has yet to translate technological advances into profitable operations. The stock's volatility reflects the speculative nature of quantum computing investments.

eeNews Europe
Apr 10th, 2026
Rigetti launches 108-qubit quantum system.

Rigetti launches 108-qubit quantum system. News | April 10, 2026 By Asma Adhimi Rigetti Computing has announced the general availability of its 108-qubit quantum computing system, Cepheus-1-108Q, marking the company's highest-qubit processor to date and a major step in its modular quantum scaling strategy. The system is now accessible to customers through Rigetti Quantum Cloud Services and via Amazon Braket, the quantum computing platform from AWS. The new platform builds on Rigetti's chiplet-based architecture, combining multiple smaller quantum processors into a larger system designed to scale more efficiently. For engineers and researchers following the rapid evolution of quantum hardware, the launch provides insight into how modular approaches may enable larger and more practical quantum computers in the coming years. Chiplet architecture pushes qubit counts higher. Cepheus-1-108Q is based on a modular design that links twelve 9-qubit chiplets together into a single quantum system. This triples the qubit count and chiplet configuration of Rigetti's previous system, the 36-qubit Cepheus-1-36Q. According to the company, the system currently achieves a median two-qubit gate fidelity of 99.1% with gate speeds of around 60 ns and a median single-qubit gate fidelity of 99.9%. Rigetti plans to further improve system performance during 2026 as development continues along its technology roadmap. "Cepheus-1-108Q is a milestone that validates our ambitious approach to scaling quantum computers," said Dr. Subodh Kulkarni, Rigetti CEO. "Our proprietary chiplet-based architecture is paving the way toward higher fidelity, higher qubit systems that will ultimately enable fault-tolerant quantum computing." Kulkarni added that the engineering innovations behind the new system reinforce the company's confidence in modular quantum architectures and their potential to support larger machines while maintaining fast gate speeds. Engineering upgrades improve fidelity and control. To maintain performance at higher qubit counts, Rigetti introduced several technical improvements in the Cepheus system. These include optimized qubit and coupler designs that support faster two-qubit gates and higher fidelity operation. The processor also supports high-fidelity native controlled-Z (CZ) gates, an important building block for error correction and scalable quantum circuits. On a prototype system, Rigetti reports achieving two-qubit gate fidelity of up to 99.9% at 28 ns using a proprietary adiabatic CZ gate scheme. Additional upgrades include redesigned control electronics to improve the signal-to-noise ratio during qubit readout and an updated fabrication process called Alternating-Bias Assisted Annealing. This manufacturing technique improves qubit frequency targeting while reducing defects that can impact system performance. During development, engineers also refined the system architecture to address interactions between tunable couplers that become more significant as systems exceed 100 qubits. With those issues mitigated, coherence time has become the primary performance constraint as the company scales further. Cloud access expands quantum experimentation. The new processor is accessible through Rigetti's Quantum Cloud Services platform as well as Amazon Braket, enabling researchers and enterprises worldwide to experiment with the hardware. "The addition of Cepheus-1-108Q to Amazon Braket gives our global customers another choice as they research quantum computing applications in materials science, optimization, and quantum simulation. As the first gate-based device on Braket with over 100 qubits, Cepheus-1-108Q delivers improved fidelities that allow customers to push to wider and deeper circuits," said Eric Kessler, General Manager, Amazon Braket. "Rigetti was a launch partner for Amazon Braket, and we're excited to deepen that relationship with this launch. With Cepheus-1-108Q, we bring the third generation of Rigetti devices to our customers, following Aspen and Ankaa. We remain committed to providing researchers and enterprises around the world with access to the latest quantum hardware." Rigetti expects the system's median two-qubit gate fidelity to reach 99.5% later in 2026 and plans to update its broader technology roadmap later this year, including details on its path toward achieving quantum advantage within roughly three years. Linked Articles

Yahoo Finance
Apr 4th, 2026
Rigetti sells 9-qubit quantum system to University of Saskatchewan to expand Novera footprint

Rigetti Computing has sold a 9-qubit Novera quantum processing unit to the University of Saskatchewan, forming the core of the university's first on-premises quantum computing system. The March 2026 deployment represents Rigetti's strategy to establish upgradeable Novera-based hardware in research environments. The sale aligns with Rigetti's broader plan to invest up to $100 million in the UK and deploy a 1,000-plus qubit system within three to four years. However, the company faces significant challenges, including operating losses exceeding $200 million annually and revenue heavily dependent on government funding cycles. Rigetti's narrative projects $78.2 million revenue by 2029, requiring 118.6% yearly growth. Some optimistic analysts forecast revenue reaching $140 million by 2028, viewing Novera deployments as the foundation for a broader installed base.

Yahoo Finance
Mar 31st, 2026
Rigetti Computing to invest up to $100M in UK quantum computing expansion

Rigetti Computing has announced plans to invest up to $100 million in the UK, marking its first major investment outside the United States. The company expects to deploy a quantum computer with more than 1,000 qubits within three to four years. The California-based firm already has a 36-qubit system deployed at the National Quantum Computing Centre and is working with partners on quantum error corrections. Rigetti designs and manufactures quantum processors in-house at its Fremont, California foundry and offers full-stack solutions including cloud access. Benchmark analyst David Williams maintained a Buy rating on Rigetti but lowered the price target from $35 to $25 on 20 March, citing weakness across the quantum sector despite increased confidence in the company's strategy and technology.

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