Quantum computing company Rigetti has raised $100 million through the sale of common stock, as part of its “at-the-market” equity offering program which will be used for working capital, capital expenditures, and other general corporate purposes.
“We are pleased to see the enthusiasm for the quantum computing sector and our company," Dr. Subodh Kulkarni, Rigetti CEO, said. "We are seeing a great deal of interest from national labs and academic institutions for on-premises quantum computers to pursue hands-on R&D. As the technology continues to improve and more quantum applications are developed we expect to see increasingly more interest from industry and the private sector."
By mid-year 2025, the company expects to release a 36-qubit system based on 49-qubit chips tied together with a targeted 99.5 percent median 2-qubit gigabit gate fidelity, he said. By the end of 2025, it expects to release a system with more than 100 qubits.
