Rigetti Computing, Inc. operates as an integrated systems company. The company builds quantum computers and the superconducting quantum processors that power them. Its machines are integrated into various public, private, or hybrid clouds through its Quantum Cloud Services platform. The company was founded in 2013 and is based in Berkeley, California.
IPO Year:
Exchange: NASDAQ
Website: https://www.rigetti.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/20/2024 | $12.00 | Buy | Craig Hallum |
| 7/25/2024 | $3.00 | Buy | B. Riley Securities |
| 3/1/2024 | $3.50 | Buy | Alliance Global Partners |
| 8/11/2023 | $4.00 | Hold → Buy | The Benchmark Company |
| 11/10/2022 | Buy → Hold | The Benchmark Company | |
| 11/10/2022 | $10.00 → $2.00 | Buy → Hold | Deutsche Bank |
| 8/9/2022 | $10.00 | Buy | Deutsche Bank |
| 6/8/2022 | $11.00 | Buy | Needham |
| 5/27/2022 | Outperform | Cowen |
BERKELEY, Calif., Jan. 10, 2025 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (NASDAQ:RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, announced today that Rigetti CEO, Dr. Subodh Kulkarni, will be participating in a fireside chat at the 27th Annual Needham Growth Conference on Tuesday, January 14, 2025. Information for the event is as follows: Webcast registration link: https://wsw.com/webcast/needham143/register.aspx?conf=needham143&page=rigg&url=https://wsw.com/webcast/needham143/rigg/2240282Presentation date: Tuesday, January 14, 2025Time: 11:45 am-12:25 pm ET (8:45-9:25 am PT) Investors can view a live webcast of the event by visiting the "Even
Ankaa-3 features a broad hardware redesign enabling superior performance. Enhancements across the technology stack include a new cryogenic hardware design, an overhaul of the qubit circuit layout, precise qubit frequency targeting with Alternating-Bias Assisted Annealing, and flexible gate architecture with precise controls. Ankaa-3 has achieved a 99.5% median two-qubit gate fidelity. BERKELEY, Calif., Dec. 23, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (NASDAQ:RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, announced today the public launch of its 84-qubit Ankaa-3 system. Ankaa-3 is Rigetti's newest flagship quantum computer featuring an e
USA News Group Commentary Issued on behalf of Scope Technologies Corp. VANCOUVER, BC, Dec. 18, 2024 /PRNewswire/ -- USA News Group News Commentary – The advent of quantum computing comes with much excitement, and horror. Quantum computers are poised to solve complex problems in mere minutes, tasks that would take today's most powerful supercomputers approximately 10 septillion years to complete. And while that type of computing power opens up a near-infinite amount of possibilities in things like healthcare, logistics, and even solving mysteries regarding the multiverse theory, it also could be quite catastrophic in the wrong hands. For example, as of December 17, 2024, all the Bitcoin (BTC)
MIAMI, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Defiance ETFs is thrilled to announce that QTUM - Defiance Quantum Computing ETF has reached a major milestone, surpassing $400 million in assets under management (AUM) — a testament to the growing momentum behind quantum computing. QTUM, up 40%+ YTD as of 12/11/2024, is the first ETF dedicated to quantum computing, giving investors exposure to the companies building the computational backbone of the AI age. With holdings in industry leaders like D-Wave Quantum (NYSE:QBTS), IonQ (NYSE:IONQ), and Rigetti Computing (NASDAQ:RGTI), QTUM delivers targeted access to pure-play innovators driving the next era of exponential technological growth. The under
TEL AVIV, Israel and BERKELEY, Calif., Dec. 10, 2024 (GLOBE NEWSWIRE) -- Quantum Machines, the leading provider of processor-based quantum controllers and Rigetti Computing (NASDAQ:RGTI), a pioneer in full-stack quantum-classical computing, today announced the successful application of AI to automate the calibration of a quantum computer. The work was completed as part of the "AI for Quantum Calibration Challenge" (the "Challenge") that was jointly issued by Rigetti and Quantum Machines and hosted at the Israeli Quantum Computing Center (IQCC). The two companies participating in the Challenge, Quantum Elements and Qruise, automated the calibration of a 9-qubit Rigetti Novera™ QPU integrat
Issued on behalf of Scope Technologies Corp. with the installation of new hardware. VANCOUVER, BC, Dec. 5, 2024 /PRNewswire/ -- USA News Group News Commentary – In recent weeks, Amazon's quantum advancements have ignited significant momentum across the market, propelling the industry closer to the dawn of the "Quantum Age." In response, the U.S. government has acted decisively, partnering with quantum pioneers to support a $2.7 billion National Quantum Initiative Reauthorization Act. While Polaris Market Research previously estimated the Global Quantum Computing Market could exceed US$5.7 billion by 2032 at an impressive 19.1% CAGR, updated projections from The Quantum Insider now anticipate
USA News Group News Commentary Issued on behalf of Scope Technologies Corp. VANCOUVER, BC, Dec. 2, 2024 /PRNewswire/ -- The threat of a cyberattack has never been higher, and it looks like it may be getting worse. According to an alarming new report from Amazon's Chief Information Security Officer, the retail and computing giant is experiencing nearly 1 billion cyber threats per day. As per the report, the claim is that cyber criminals have embraced Artificial Intelligence (AI), forcing enterprises to drastically scale up their threat-intelligence capabilities. But the biggest threat hasn't fully arrived yet, which cyber experts have dubbed "Q-Day", marking the turning point when cybercrimin
BERKELEY, Calif., Nov. 26, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (NASDAQ:RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, today announced that it has entered into securities purchase agreements with two institutional investors for the purchase and sale of 50,000,000 shares of the Company's common stock, par value $0.0001 per share, at a purchase price of $2.00 per share, pursuant to a registered direct offering priced at-the-market under Nasdaq rules, resulting in gross proceeds of approximately $100 million, before deducting placement agent commissions and other offering expenses. The closing of the offering is expected to occur on or ab
BERKELEY, Calif., Nov. 25, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (NASDAQ:RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, today announced that it has successfully completed sales of $100 million gross proceeds of its common stock pursuant to its previously disclosed "at-the-market" equity offering program (the "ATM Program") since the commencement of the ATM Program in March 2024. The Company intends to use the funds generated by the ATM Program for working capital, capital expenditures and other general corporate purposes, including continuing to focus on its strategy as a leader in superconducting quantum computing and continuing to work
BERKELEY, Calif., Nov. 13, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (NASDAQ:RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, today announced that Dr. Subodh Kulkarni, Rigetti CEO, will be delivering a keynote presentation at SEMICON Europa 2024 in Munich, Germany later today, November 13, 2024 at 2:45pm. Dr. Kulkarni will discuss the potential transformative power of superconducting quantum computing and how Rigetti is delivering hands-on access to state-of-art quantum hardware to enable research and innovation to continue to advance the industry. Dr. Kulkarni's keynote, "Superconducting Quantum Computing: Building on Decades of Semiconduct
BERKELEY, Calif., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (NASDAQ:RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, today announced its financial results for the third quarter ended September 30, 2024 and business updates, including updates to its technology roadmap. Third Quarter 2024 Financial Highlights Total revenues for the three months ended September 30, 2024 were $2.4 millionTotal operating expenses for the three months ended September 30, 2024 were $18.6 millionOperating loss for the three months ended September 30, 2024 was $17.3 millionNet loss for the three months ended September 30, 2024 was $14.8 millionAs of Septembe
BERKELEY, Calif., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or the "Company") (NASDAQ:RGTI), a pioneer in hybrid quantum-classical computing, announced today that it will release third quarter 2024 results on Tuesday, November 12, 2024 pre-market open. The Company will host a conference call to discuss its financial results and provide an update on its business operations at 8:30 a.m. ET the same day. Key details regarding the call are as follows: Call Date: Tuesday, November 12, 2024Call Time: 8:30 a.m. ET / 5:30 a.m. PTWebcast Link: https://edge.media-server.com/mmc/p/aoxe8j5p/ Live Call Participant Link: https://register.vevent.com/register/BI66e8b07255734ee
BERKELEY, Calif., Aug. 08, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (NASDAQ:RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, today announced its financial results for the second quarter ended June 30, 2024. Second Quarter 2024 Financial Highlights Total revenues for the three months ended June 30, 2024 were $3.1 millionTotal operating expenses for the three months ended June 30, 2024 were $18.1 millionOperating loss for the three months ended June 30, 2024 was $16.1 millionNet loss for the three months ended June 30, 2024 was $12.4 millionFor the period from April 1 - July 12, 2024 raised $27.8 million from the sale of 24.1 million common s
BERKLEY, Calif., July 29, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or the "Company") (NASDAQ:RGTI), a pioneer in hybrid quantum-classical computing, announced today that it will release second quarter 2024 results on Thursday, August 8, 2024 after market close. The Company will host a conference call to discuss its financial results and provide an update on its business operations at 4:30 p.m. ET the same day. Key details regarding the call are as follows: Call Date: Thursday, August 8, 2024Call Time: 4:30 p.m. ET / 1:30 p.m. PTWebcast Link: https://edge.media-server.com/mmc/p/p9p5pvoq Live Call Participant Dial-in Number: Toll-Free: 1-888-596-4144Conference ID: 6114
BERKELEY, Calif., May 09, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (NASDAQ:RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, today announced its financial results for the first quarter ended March 31, 2024. First Quarter 2024 Financial Highlights Total revenues for the three months ended March 31, 2024 were $3.1 millionTotal operating expenses for the three months ended March 31, 2024 were $18.1 millionOperating loss for the three months ended March 31, 2024 was $16.6 millionNet loss for the three months ended March 31, 2024 was $20.8 millionDuring the period from January 1 - May 9, 2024, raised $32.9 million from the sale of 23 million
BERKELEY, Calif., April 30, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or the "Company") (NASDAQ:RGTI), a pioneer in hybrid quantum-classical computing, announced today that it will release first quarter 2024 results on Thursday, May 9, 2024 after market close. The Company will host a conference call to discuss its financial results and provide an update on its business operations at 5:00 p.m. ET the same day. Key details regarding the call are as follows: Call Date: Thursday, May 9, 2024Call Time: 5:00 p.m. ET / 2:00 p.m. PTWebcast Link: https://edge.media-server.com/mmc/p/e9em4ndr%5DLive Call Participant Link: https://register.vevent.com/register/BIdaa8078c889a462ca491
BERKELEY, Calif., April 23, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (NASDAQ:RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, announces the sale of a Novera™ quantum processing unit (QPU) to Horizon Quantum Computing. This marks the Company's third sale of a Novera QPU, and is the Company's first QPU located in Singapore. The Novera QPU will be installed in Horizon Quantum Computing's new hardware testbed in Singapore, and will be Horizon's first quantum computing system. The system is expected to be installed by early 2025. The system will integrate Horizon's software stack, Triple Alpha, and Quantum Machines' OPX1000 processor-based quantu
Deployed the 84-qubit Ankaa™-2 quantum computer, with a 2.5X improvement in error performance compared to the Company's previous QPUs and achieved a 98% median 2-qubit fidelity.Won competition to develop and deliver a 24-qubit quantum computing system to the UK's National Quantum Computing Centre (NQCC).Launched the Novera™ QPU, a 9-qubit quantum processor unit available for integration into customers' on-premise systems.Announces second Novera QPU sale to the Air Force Research Lab (AFRL). BERKELEY, Calif., March 14, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (NASDAQ:RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, today announced its financi
BERKELEY, Calif., March 04, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or the "Company") (NASDAQ:RGTI), a pioneer in hybrid quantum-classical computing, announced today that it will release fourth quarter and full year 2023 results on Thursday, March 14, 2024 after market close. The Company will host a conference call to discuss its financial results and provide an update on its business operations at 5:00 p.m. ET the same day. Key details regarding the call are as follows: Call Date: Thursday, March 14, 2024Call Time: 5:00 p.m. ET / 2:00 p.m. PTWebcast Link: https://edge.media-server.com/mmc/p/5yuqcscr/Live Call Participant Link: https://register.vevent.com/register/BI5
BERKELEY, Calif., Nov. 09, 2023 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (NASDAQ:RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, today announced its financial results for the third quarter ended September 30, 2023. Third Quarter 2023 Financial Highlights Total revenues for the three months ended September 30, 2023 were $3.1 millionTotal operating expenses for the three months ended September 30, 2023 were $19.1 millionOperating loss for the three months ended September 30, 2023 was $16.8 millionNet loss for the three months ended September 30, 2023 was $22.2 millionAs of September 30, 2023 cash, cash equivalents and available-for-sale securitie
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Craig Hallum initiated coverage of Rigetti Computing with a rating of Buy and set a new price target of $12.00
B. Riley Securities initiated coverage of Rigetti Computing with a rating of Buy and set a new price target of $3.00
Alliance Global Partners initiated coverage of Rigetti Computing with a rating of Buy and set a new price target of $3.50
The Benchmark Company upgraded Rigetti Computing from Hold to Buy and set a new price target of $4.00
The Benchmark Company downgraded Rigetti Computing from Buy to Hold
Deutsche Bank downgraded Rigetti Computing from Buy to Hold and set a new price target of $2.00 from $10.00 previously
Deutsche Bank initiated coverage of Rigetti Computing with a rating of Buy and set a new price target of $10.00
Needham initiated coverage of Rigetti Computing with a rating of Buy and set a new price target of $11.00
Cowen initiated coverage of Rigetti Computing with a rating of Outperform
BERKELEY, Calif., May 29, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or "the Company") (NASDAQ:RGTI), a pioneer in hybrid quantum-classical computing systems, today announced the Company is set to join the Russell 3000® Index at the conclusion of the 2024 Russell US Indexes annual reconstitution, effective at the open of US equity markets on Monday, July 1st, according to a preliminary list of additions posted Friday, May 24th. The annual Russell US Indexes reconstitution captures the 4,000 largest US stocks as of Tuesday, April 30th, ranking them by total market capitalization. Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means
LONDON, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Rigetti UK Limited, a wholly owned subsidiary of Rigetti Computing, Inc. (NASDAQ:RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, today announced that it was awarded an Innovate UK grant as part of the Feasibility Studies in Quantum Computing Applications competition. Joining Rigetti in this work is HSBC, the Quantum Software Lab (QSL) based at the University of Edinburgh, and the National Quantum Computing Centre (NQCC). Together, the consortium aims to enhance existing anti-money laundering techniques by using quantum machine learning techniques with the goal of improving the performance of current-state-of
BERKELEY, Calif., Oct. 31, 2023 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (NASDAQ:RGTI) ("Rigetti" or the "Company"), a pioneer in full-stack quantum-classical computing, today announced that it has appointed Thomas J. Iannotti as Chairman of the Board of Directors, effective immediately. Mr. Iannotti succeeds Cathy McCarthy in the role of Chair, with Ms. McCarthy continuing to serve as a member of the Board of Directors. Mr. Iannotti currently serves as Chairman of the Board of Directors at Applied Materials, Inc., a role which he has held since 2017. Mr. Iannotti joins Rigetti with extensive leadership experience in the technology and computing industries, most recently serving as Se
Provides Updated Technology Roadmap;Appoints Jeffrey Bertelsen as CFO and Promotes David Rivas to CTO;Implements Workforce Reduction BERKELEY, Calif., Feb. 10, 2023 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or "the Company") (NASDAQ:RGTI), a pioneer in hybrid quantum-classical computing systems, today announced that its Board has approved an updated business strategy, including revisions to its technology roadmap. In connection with this updated strategy, the Company will transition to a newly appointed CFO and CTO and is implementing a workforce reduction in order to focus the organization and its resources on nearer-term strategic priorities. "Upon assuming my role as
BERKELEY, Calif., Dec. 08, 2022 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or "the Company") (NASDAQ:RGTI), a pioneer in hybrid quantum-classical computing systems, today announced that Dr. Subodh Kulkarni will join the Company as President and Chief Executive Officer, effective December 12, 2022. Dr. Kulkarni succeeds Dr. Chad Rigetti in the CEO role, and the Company expects that Dr. Kulkarni will be appointed to its board of directors following Dr. Rigetti's previously announced departure from the Company's board of directors on December 15, 2022. Following the appointment of Dr. Kulkarni, Mr. Rick Danis, who held the interim CEO role during the transition period, will resume
BERKELEY, Calif., Nov. 09, 2022 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or the "Company") (NASDAQ:RGTI), a pioneer in hybrid quantum-classical computing, announced today that the Company's Founder, Dr. Chad Rigetti, has provided to the Company his intention to tender resignation from his positions as the Company's President, Chief Executive Officer and Director on the Company's Board of Directors, with an anticipated effective date of December 15, 2022. As previously announced, the Company is conducting a search for Dr. Rigetti's successor. In the event the Company is unable to identify and appoint a successor before Dr. Rigetti's resignation date, it is anticipated that
BERKELEY, Calif., Oct. 31, 2022 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or the "Company") (NASDAQ:RGTI), a pioneer in hybrid quantum-classical computing, today announced that the Company's Founder, Dr. Chad Rigetti, will be transitioning from his position as President and Chief Executive Officer to focus on advancing the Company's products and technology. As part of this next phase of growth, the Company will conduct a CEO search for Dr. Rigetti's successor, and Dr. Rigetti will continue to serve in his current role until a successor is identified and assumes the position. "Chad is a pioneer in the development and commercialization of quantum computers. His vision and leade
BERKELEY, Calif., April 19, 2022 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or "the Company") (NASDAQ:RGTI), a pioneer in hybrid quantum-classical computing systems, today announced that Taryn Naidu, who had served as Chief Operating Officer, is no longer with the Company. Mr. Naidu's departure is not related to any matter regarding the Company's financial condition, reported financial results, internal controls or disclosure controls and procedures. The Company recently has made several key hires, deepening its expertise and leadership in finance, go-to-market, operations, security, and talent management, and does not have immediate plans to name a replacement Chief Operating
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