$52.6 million in GAAP net loss and $5.1 million in revenue marked Rigetti’s second quarter, while operating loss reached $28.1 million and diluted loss per share was $0.16.
$541.3 million in cash, equivalents and investments with no debt gave the quantum-computing company room to keep funding R&D, on-premises deployments and infrastructure for higher-qubit systems.
Rigetti tied that spending to commercial progress, citing an expanded HPE and Pittsburgh Supercomputing Center collaboration, a 9-qubit Novera deployment and ongoing fulfillment of Novera and 108-qubit systems including C-DAC in India.
Up to $100 million in potential U.S. Commerce Department funding and a plan to invest up to $100 million in the UK support a roadmap targeting roughly 1,000 qubits, 99.9% two-qubit fidelity and sub-50-nanosecond gate speeds within about three years.
With the US government eyeing an equity stake, can Rigetti's $100 million gamble finally make 1,000-qubit quantum systems a commercial reality?
Will Rigetti's radical chiplet-based architecture overcome the coherence limits of traditional monolithic chips to unlock true hybrid supercomputing power?