Rigetti Computing (RGTI) investor relations material

Industry breakthroughs and funding

• Recent advances in quantum error correction have accelerated timelines for cryptographically relevant quantum computation, with sovereign capital investments increasing globally.

• The U.S. Department of Commerce awarded $2 billion to nine quantum companies, including $100 million in equity and funding to Rigetti, supporting technology development and infrastructure.

• Additional government initiatives, such as DARPA's QBI and Canada's Project OPTIMISM, are fueling rapid maturation of the quantum sector.

Technology positioning and differentiation

• Superconducting gate modality is favored for its speed and scalability, with over 90% of quantum investments directed here.

• Rigetti's modular chiplet architecture enables scalable quantum systems, with the 108-qubit system built from 12 9-qubit chiplets and plans to reach 1,000 qubits using 36-qubit chiplets.

• The company emphasizes open, modular integration with third-party partners, contrasting with mainframe-like closed approaches.

Commercialization outlook and milestones

• Quantum computing is expected to become commercially relevant in about three years, reaching a critical inflection point called quantum advantage.

• Four key requirements for commercial viability: at least 1,000 physical qubits, 99.9% two-qubit gate fidelity, sub-40 nanosecond gate speed, and robust error mitigation.

• Current systems are primarily used for research, with around 1,000 AWS customers accessing the 108-qubit system.