{{Short description|American quantum computing company}} {{Infobox company | name = Rigetti Computing, Inc. | logo = File:Rigetti Computing logo.svg{{!}}class=skin-invert-image | type = Public | traded_as = {{NASDAQ|RGTI}} | location = Berkeley, California, United States | foundation = {{start date and age|2013}} | founder = Chad Rigetti | key_people = Subodh Kulkarni (CEO) | industry = Quantum computing | products = Quantum integrated circuits<br> Forest quantum computing software | revenue = {{decrease}} {{US$|10.8|link=yes}} million | revenue_year = 2024 | operating_income = {{increasenegative}} {{US$|-69}} million | income_year = 2024 | net_income = {{decrease}} {{US$|-201}} million | net_income_year = 2024 | assets = {{increase}} {{US$|285}} million | assets_year = 2024 | equity = {{increase}} {{US$|127}} million | equity_year = 2024 | num_employees = 140 (2025) | parent = | homepage = {{URL|rigetti.com}} | footnotes = <ref name=AR>{{cite web |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1838359/000155837025002499/rgti-20241231x10k.htm |title=Rigetti Computing Inc. 2024 Annual Report (Form 10-K) |date=March 7, 2025 |publisher=U.S. Securities and Exchange Commission|website=EDGAR|author=Rigetti Computing Inc.|access-date=2025-03-08}}</ref> }}
'''Rigetti Computing, Inc.''' is an American developer of superconducting quantum integrated circuits used for quantum computers. Rigetti, which is based in Berkeley, California, also develops a cloud platform called Forest that enables programmers to execute quantum algorithms.<ref name=wired>{{cite web|url=https://www.wired.com/story/quantum-computing-factory-taking-on-google-ibm/ |title=The Quantum Computer Factory That's Taking on Google and IBM|website=wired.com |date=2017-06-20 |accessdate=2017-07-20}}</ref>
==History==
Rigetti Computing was founded in 2013 by Chad Rigetti, a physicist with a background in quantum computers from IBM who studied under Michel Devoret.<ref name="wired" /><ref name="uregina">{{cite web|url=https://www.uregina.ca/external/communications/assets/docs/pdf/degrees-magazine/dm-ss2017.pdf#page=22 |title=A quantum leap of faith|website=uregina.com |date=2017-06-20 |accessdate=2017-07-20}}</ref> Chad Rigetti has authored more than 140 publications in the fields of quantum mechanics and quantum computing.<ref name="RigettiScholar">{{cite web | title = Chad Rigetti – Google Scholar | url = https://scholar.google.com/citations?user=D9Vr0UEAAAAJ&hl=en | website = Google Scholar }}</ref> Rigetti Computing received funding from startup incubator Y Combinator in 2014 as a so-called "spaceshot" company.<ref name="svbj1">{{cite web|url=http://www.bizjournals.com/sanjose/news/2014/08/20/11-startups-to-watch-from-y-combinators-demo-day.html |publisher=Silicon Valley Business Journal|title=11 startups to watch from Y Combinator's Demo Day|website=bizjournals.com |date=2014-08-20 |accessdate=2017-07-20}}</ref><ref name="svbj2">{{cite web|url=http://www.bizjournals.com/sanjose/news/2017/03/28/rigetti-quantum-computing-y-combinator-a16z.html |publisher=Silicon Valley Business Journal|title=Y Combinator's quantum computing 'spaceshot' scores $64M from A16Z, others|website=bizjournals.com |date=2017-03-29 |accessdate=2017-07-20}}</ref> Later that year, Rigetti also participated in The Alchemist Accelerator, a venture capital programme.<ref name="svbj2" />
By February 2016, Rigetti created its first quantum processor, a three-qubit chip made using aluminum circuits on a silicon wafer.<ref name=MIT>{{cite web|url=https://www.technologyreview.com/s/600711/the-tiny-startup-racing-google-to-build-a-quantum-computing-chip/|title=The Tiny Startup Racing Google to Build a Quantum Computing Chip|website=technologyreview.com |date=2016-02-08 |accessdate=2017-07-20}}</ref> That same year, Rigetti raised Series A funding of US$24 million in a round led by Andreessen Horowitz. In November, the company secured Series B funding of $40 million in a round led by investment firm Vy Capital, along with additional funding from Andreessen Horowitz and other investors. Y Combinator also participated in both rounds.<ref name=svbj2/>
By Spring of 2017, Rigetti had advanced to testing eight-qubit quantum computers.<ref name=uregina/> In June, the company announced the release of Forest 1.0, a quantum computing platform designed to enable developers to create quantum algorithms.<ref name=wired/> This was a major milestone.
In October 2021, Rigetti announced plans to go public via a SPAC merger, with estimated valuation of around US$1.5 billion.<ref name=":0">{{Cite web|title=Rigetti Announces SPAC Deal with Supernova II|url=https://www.rigetti.com/merger-announcement|access-date=2021-10-11|website=Rigetti|language=en}}</ref><ref>{{Cite news|last=Lee|first=Jane Lanhee|date=2021-10-06|title=Quantum computer maker Rigetti to go public via $1.5 bln SPAC deal|language=en|work=Reuters|url=https://www.reuters.com/technology/quantum-computer-maker-rigetti-go-public-via-15-bln-spac-deal-2021-10-06/|access-date=2021-10-11}}</ref> This deal was expected to raise an additional US$458 million, bringing the total funding to US$658 million.<ref name=":0" /> The fund will be used to accelerate the company's growth, including scaling its quantum processors from 80 qubits to 1,000 qubits by 2024, and to 4,000 by 2026.<ref>{{Cite web|title=Quantum-Computing Company Rigetti to Go Public Through SPAC Deal|url=https://www.marketwatch.com/story/quantum-computing-company-rigetti-to-go-public-through-spac-deal-271633523304|access-date=2021-10-11|website=MarketWatch|language=EN-US}}</ref> The SPAC deal closed on 2 March 2022, and Rigetti began trading on the NASDAQ under the ticker symbol RGTI.<ref>{{cite press release|url=https://www.globenewswire.com/news-release/2022/03/02/2395179/0/en/Rigetti-Computing-Announces-Closing-of-Business-Combination-with-Supernova-Partners-Acquisition-Company-II-Ltd-Begins-Trading-on-Nasdaq-Capital-Market-Today.html|title=Rigetti Computing Announces Closing of Business Combination with Supernova Partners Acquisition Company II, Limited; Begins Trading on Nasdaq Capital Market Today|date=2 March 2022|website=globenewswire.com}}</ref>
In December 2022, Subodh Kulkarni became president and CEO of the company.<ref>{{cite web |title=Dr. Subodh Kulkarni |url=https://www.rigetti.com/leadership-team/dr-subodh-kulkarni |access-date=2023-07-11 |website=Rigetti |language=en}}</ref>
In July 2023 Rigetti launched a single-chip 84 qubit quantum processor that it believes can scale to larger systems.<ref>{{cite web|url=https://www.eenewseurope.com/en/rigetti-launches-84qubit-single-chip-quantum-processor/|title=Rigetti launches 84qubit single chip quantum processor|date=August 11, 2023}}</ref>
In October 2025, Rigetti was one of several quantum-computing companies reported to be involved in discussions with the Trump administration to secure federal funding in exchange for equity stakes.<ref>{{Cite web |last=Ramkumar |first=Amrith |date=2025-10-23 |title=Exclusive {{!}} Trump Administration in Talks to Take Equity Stakes in Quantum-Computing Firms |url=https://www.wsj.com/business/entrepreneurship/trump-administration-in-talks-to-take-equity-stakes-in-quantum-computing-firms-60ee5143 |access-date=2025-10-23 |website=The Wall Street Journal |language=en-US}}</ref>
In May 2026, Rigetti will receive up to $100 million in planned funding under the CHIPS and Science Act to address key technical challenges to develop and scale next generation superconducting quantum computing technologies and architectures, such as miniaturizing and integrating novel readout electronics and next generation cryostat architectures.<ref>{{Cite journal |date=2026-05-21 |title=Department of Commerce Announces Letters of Intent With 9 Companies for $2 Billion to Accelerate U.S. Leadership in Quantum Computing |url=https://www.nist.gov/news-events/news/2026/05/department-commerce-announces-letters-intent-9-companies-2-billion |journal=NIST |language=en}}</ref>
==Products and technology== Rigetti Computing is a full-stack quantum computing company, a term that indicates that the company designs and fabricates quantum chips, integrates them with a controlling architecture, and develops software for programmers to use to build algorithms for the chips.<ref name=ieee>{{cite web|url=https://spectrum.ieee.org/rigetti-launches-fullstack-quantum-computing-service-and-quantum-ic-fab |title=Rigetti Launches Full-Stack Quantum Computing Service and Quantum IC Fab |website=IEEE |date=2017-06-26 |access-date=2017-07-20}}</ref>
===Forest cloud computing platform===
The company hosts a cloud computing platform called Forest, which gives developers access to quantum processors so they can write quantum algorithms for testing purposes. The computing platform is based on a custom instruction language the company developed called Quil, which stands for Quantum Instruction Language. Quil facilitates hybrid quantum/classical computing, and programs can be built and executed using open source Python tools.<ref name=ieee/><ref>{{cite web|url=https://pyquil.readthedocs.io|title=Welcome to pyQuil! |website=readthedocs.io |date=|access-date=2017-07-20}}</ref> As of June 2017, the platform allows coders to write quantum algorithms for a simulation of a quantum chip with 36 qubits.<ref name=wired/>
===Fab-1=== The company operates a rapid prototyping fabrication ("fab") lab called Fab-1, designed to quickly create integrated circuits. Lab engineers design and generate experimental designs for 3D-integrated quantum circuits for qubit-based quantum hardware.<ref name=ieee/>
==Recognition== The company was recognized in 2016 by X-Prize founder Peter Diamandis as being one of the three leaders in the quantum computing space, along with IBM and Google.<ref name="singularity">{{cite news|url=https://singularityhub.com/2016/10/10/massive-disruption-quantum-computing/|title=Massive Disruption Is Coming With Quantum Computing|newspaper=Singularity Hub|date=2010-10-16|access-date=2017-07-20|last1=Diamandis|first1=Peter H.}}</ref> ''MIT Technology Review'' named the company one of the 50 smartest companies of 2017.<ref>{{cite web|url=https://www.technologyreview.com/lists/companies/2017/#rigetti-computing |title=50 Smartest Companies 2017 |website=technologyreview.com |date= |access-date=2017-07-20}}</ref>
==Locations== Rigetti Computing is headquartered in Berkeley, California, where it hosts developmental systems and cooling equipment.<ref name=singularity/> The company also operates its Fab-1 manufacturing facility in nearby Fremont, California.<ref name = wired/>
== See also == * D-Wave Systems
==References== {{reflist|30em}}
==External links== * {{official website|https://www.rigetti.com}} {{Finance links | name = Rigetti Computing | symbol = RGTI | bloomberg = RGTI:US | sec_cik = 1838359 | yahoo = RGTI | google = RGTI:NASDAQ }} {{authority control}}
Category:Computer companies of the United States Category:Computer hardware companies Category:Quantum information science Category:Companies involved in quantum computing Category:Companies based in Berkeley, California Category:American companies established in 2013 Category:Computer companies established in 2013 Category:2013 establishments in California Category:Companies listed on the Nasdaq Category:Special-purpose acquisition companies