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Rigetti Computing

Rigetti Computing, Inc. is an American Berkeley, California-based developer of superconducting quantum integrated circuits used for quantum computers. Rigetti also develops a cloud platform called Forest that enables programmers to write quantum algorithms.[2]

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.[2][3] Chad Rigetti has authored more than 140 publications in the fields of quantum mechanics and quantum computing.[4] The Rigetti Computing from startup incubator Y Combinator in 2014 as a so-called "spaceshot" company.[5][6] Later that year, Rigetti also participated in The Alchemist Accelerator, a venture capital programme.[6]

By February 2016, Rigetti created its first quantum processor, a three-qubit chip made using aluminum circuits on a silicon wafer.[7] 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.[6]

By Spring of 2017, Rigetti had advanced to testing eight-qubit quantum computers.[3] In June, the company announced the release of Forest 1.0, a quantum computing platform designed to enable developers to create quantum algorithms.[2] 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.[8][9] This deal was expected to raise an additional US$458 million, bringing the total funding to US$658 million.[8] 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.[10] The SPAC deal closed on 2 March 2022, and Rigetti began trading on the NASDAQ under the ticker symbol RGTI.[11]

In December 2022, Subodh Kulkarni became president and CEO of the company.[12]

In July 2023 Rigetti launched a single-chip 84 qubit quantum processor that can scale to even larger systems.[13]

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.[14]

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.[15]

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.[15][16] As of June 2017, the platform allows coders to write quantum algorithms for a simulation of a quantum chip with 36 qubits.[2]

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.[15]

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.[17] MIT Technology Review named the company one of the 50 smartest companies of 2017.[18]

Locations

Rigetti Computing is headquartered in Berkeley, California, where it hosts developmental systems and cooling equipment.[17] The company also operates its Fab-1 manufacturing facility in nearby Fremont, California.[2]

See also

External links

References

  1. Rigetti Computing Inc. Rigetti Computing Inc. 2024 Annual Report (Form 10-K) EDGAR, U.S. Securities and Exchange Commission, March 7, 2025, retrieved 2025-03-08^
  2. The Quantum Computer Factory That's Taking on Google and IBM wired.com, 2017-06-20, retrieved 2017-07-20^
  3. A quantum leap of faith uregina.com, 2017-06-20, retrieved 2017-07-20^
  4. Chad Rigetti – Google Scholar Google Scholar^
  5. 11 startups to watch from Y Combinator's Demo Day bizjournals.com, Silicon Valley Business Journal, 2014-08-20, retrieved 2017-07-20^
  6. Y Combinator's quantum computing 'spaceshot' scores $64M from A16Z, others bizjournals.com, Silicon Valley Business Journal, 2017-03-29, retrieved 2017-07-20^
  7. The Tiny Startup Racing Google to Build a Quantum Computing Chip technologyreview.com, 2016-02-08, retrieved 2017-07-20^
  8. Rigetti Announces SPAC Deal with Supernova II Rigetti, retrieved 2021-10-11^
  9. Jane Lanhee Lee. Quantum computer maker Rigetti to go public via $1.5 bln SPAC deal Reuters, 2021-10-06, retrieved 2021-10-11^
  10. Quantum-Computing Company Rigetti to Go Public Through SPAC Deal MarketWatch, retrieved 2021-10-11^
  11. Rigetti Computing Announces Closing of Business Combination with Supernova Partners Acquisition Company II, Limited; Begins Trading on Nasdaq Capital Market Today globenewswire.com, 2 March 2022^
  12. Dr. Subodh Kulkarni Rigetti, retrieved 2023-07-11^
  13. Rigetti launches 84qubit single chip quantum processor August 11, 2023^
  14. Amrith Ramkumar. Exclusive The Wall Street Journal, 2025-10-23, retrieved 2025-10-23^
  15. Rigetti Launches Full-Stack Quantum Computing Service and Quantum IC Fab IEEE, 2017-06-26, retrieved 2017-07-20^
  16. Welcome to pyQuil! readthedocs.io, retrieved 2017-07-20^
  17. Peter H. Diamandis. Massive Disruption Is Coming With Quantum Computing Singularity Hub, 2010-10-16, retrieved 2017-07-20^
  18. 50 Smartest Companies 2017 technologyreview.com, retrieved 2017-07-20^