Overview

Rigetti Computing focuses on quantum computing, utilizing the principles of quantum mechanics to perform complex calculations quickly. The company develops quantum processors, called quantum processing units (QPUs), which use superconducting qubits to process large amounts of data more efficiently than traditional computers. Rigetti serves clients in various sectors, including academia, government, and industries like finance and pharmaceuticals, helping them tackle complex problems that classical computers cannot solve. Their cloud-based platform allows users to access quantum computing resources remotely, eliminating the need for costly hardware. Rigetti's unique integration of quantum computing with artificial intelligence and machine learning enhances its systems' capabilities, enabling applications such as improved weather predictions. The company's goal is to make quantum computing practical and accessible for addressing significant global challenges.

Simplify's Take

What believers are saying

• Partnership with Quanta involves $200 million investment to advance superconducting quantum computing.
• Integration with Amazon Braket and Microsoft Azure expands customer base and accessibility.
• Plan to release a 36-qubit system by mid-2025 shows clear scaling roadmap.

What critics are saying

• Increased competition from IonQ could threaten Rigetti's market position.
• Rapid stock price surge may indicate market volatility and potential overvaluation.
• Significant investment with Quanta could strain resources if outcomes aren't achieved.

What makes Rigetti unique

• Rigetti is a full-stack quantum computing company, designing and manufacturing quantum-integrated circuits.
• The company offers Forest, the first full-stack programming environment for quantum/classical computing.
• Rigetti integrates quantum computing with AI and machine learning for enhanced computational capabilities.

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Funding

Total Funding

$810.4M

Above

Industry Average

Funded Over

10 Rounds

Notable Investors:

Bessemer Venture PartnersBattery VenturesAndreessen HorowitzY Combinator

Notable Investors:

Bessemer Venture PartnersBattery VenturesAndreessen HorowitzY Combinator

$35,000,000

Post IPO Equity

Feb 2025

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