Trump won't fire Powell, GENIUS Act vote, Rigetti milestone
Trump's Denial and Market Reactions: President Trump denies plans to fire Federal Reserve Chair Jerome Powell, which helps stabilize the market; Circle stock rises due to expectations of the GENIUS Act passing in the House.
Rigetti's Quantum System Milestone: Rigetti announces its 36-qubit quantum system has achieved 99.5% fidelity, with a launch scheduled for August 15, leading to an increase in its stock value.
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Rigetti Reveals Plan for 1,000+ Qubit System by 2027 and Strengthens Global Collaborations
Management Insights: Rigetti Computing's CEO highlighted strong demand for quantum computers and outlined a roadmap for delivering systems with increasing qubit counts and fidelity, aiming for a 1,000-plus qubit system by 2027.
Financial Performance: The company reported Q3 2025 revenues of $1.9 million, down from $2.4 million in Q3 2024, with gross margins significantly lower at 21%, attributed to contract pricing variability and the expiration of government funding.
Future Outlook: Rigetti expects revenue growth from recent contracts and system sales, while maintaining focus on achieving higher fidelity and error correction to reach quantum advantage between 2027 and 2029.
Risks and Challenges: Management acknowledged potential impacts from the pending reauthorization of the National Quantum Initiative and the need for significant capital expenditures for future upgrades, while also addressing feedback from DARPA on technical challenges.
What’s Behind the Surge in Rigetti (RGTI) Stock Today?
Contract with U.S. Air Force: Rigetti Computing's stock surged 15% after securing a three-year, $5.8 million contract with the U.S. Air Force to advance superconducting quantum networking technology, highlighting the importance of U.S. leadership in quantum information science.
Market Performance and Analyst Outlook: Despite a significant year-to-date stock increase of over 2,400% and reaching an all-time high, Rigetti's financial results were mixed, with Q2 revenue slightly below forecasts. Analysts remain optimistic, with price targets being raised and continued support for the company's growth strategy.
Rigetti and QphoX Secure $5.8M AFRL Contract to Enhance Superconducting Quantum Networking
Contract Award: Rigetti Computing has received a three-year, $5.8 million contract from the Air Force Research Laboratory to advance superconducting quantum networking in collaboration with Dutch startup QphoX.
Quantum Networking Potential: The project aims to develop systems that enable entanglement between superconducting qubits and optical photons, which is crucial for creating a secure quantum internet and enhancing distributed quantum computing capabilities.
Rigetti and India's Centre for Development of Advanced Computing Sign MOU to Collaborate on Hybrid Quantum Computing Systems
Collaboration Announcement: Rigetti Computing has signed a Memorandum of Understanding with India's Centre for Development of Advanced Computing (C-DAC) to co-develop hybrid quantum computing systems aimed at enhancing R&D capabilities in quantum technologies for government and academic institutions.
Technological Advancements: The partnership seeks to leverage Rigetti's expertise in superconducting quantum computing and C-DAC's leadership in high-performance computing to innovate in cryogenic electronics and quantum hardware, contributing to India's strategic advancements in next-generation technologies.
Rigetti Computing Partners with Montana State University to Enhance Quantum Research and Innovation
Collaboration Announcement: Rigetti Computing and Montana State University (MSU) have signed a Memorandum of Understanding to enhance quantum computing research and innovation.
QCORE Opening: The opening of MSU's QCORE, a dedicated research center for quantum systems integration, features the installation of a Rigetti Novera QPU, marking MSU as the first academic institution with an on-premises Rigetti quantum computer.
Research Initiatives: The collaboration will focus on various initiatives including quantum hardware research, workforce development, and co-development of quantum technologies, emphasizing the role of public-private partnerships in advancing quantum computing.
Novera QPU Details: The 9-qubit Novera QPU is designed for high-performance operations and is manufactured at Rigetti's dedicated facility, supporting broader research and development efforts in quantum networking hardware.
Rigetti outlines plan for 100-plus qubit quantum system at 99.5% fidelity by year-end while strengthening balance sheet
Management Insights: Rigetti Computing's CEO reported significant advancements in quantum technology, including the launch of the Cepheus-1-36Q system with reduced error rates and plans for a 100-plus qubit system by the end of 2025. The company also raised $350 million through equity offerings to support R&D.
Financial Performance: In Q2 2025, Rigetti's revenue was $1.8 million, down from $3.1 million year-over-year, with gross margins at 31%. Despite an operating loss of $19.9 million, the company maintains a strong cash position of $571.6 million and expresses confidence in meeting future technology milestones amidst ongoing challenges.
Rigetti Reveals Plan for 1,000+ Qubit System by 2027 and Strengthens Global Collaborations
Management Insights: Rigetti Computing's CEO highlighted strong demand for quantum computers and outlined a roadmap for delivering systems with increasing qubit counts and fidelity, aiming for a 1,000-plus qubit system by 2027.
Financial Performance: The company reported Q3 2025 revenues of $1.9 million, down from $2.4 million in Q3 2024, with gross margins significantly lower at 21%, attributed to contract pricing variability and the expiration of government funding.
Future Outlook: Rigetti expects revenue growth from recent contracts and system sales, while maintaining focus on achieving higher fidelity and error correction to reach quantum advantage between 2027 and 2029.
Risks and Challenges: Management acknowledged potential impacts from the pending reauthorization of the National Quantum Initiative and the need for significant capital expenditures for future upgrades, while also addressing feedback from DARPA on technical challenges.
What’s Behind the Surge in Rigetti (RGTI) Stock Today?
Contract with U.S. Air Force: Rigetti Computing's stock surged 15% after securing a three-year, $5.8 million contract with the U.S. Air Force to advance superconducting quantum networking technology, highlighting the importance of U.S. leadership in quantum information science.
Market Performance and Analyst Outlook: Despite a significant year-to-date stock increase of over 2,400% and reaching an all-time high, Rigetti's financial results were mixed, with Q2 revenue slightly below forecasts. Analysts remain optimistic, with price targets being raised and continued support for the company's growth strategy.
Rigetti and QphoX Secure $5.8M AFRL Contract to Enhance Superconducting Quantum Networking
Contract Award: Rigetti Computing has received a three-year, $5.8 million contract from the Air Force Research Laboratory to advance superconducting quantum networking in collaboration with Dutch startup QphoX.
Quantum Networking Potential: The project aims to develop systems that enable entanglement between superconducting qubits and optical photons, which is crucial for creating a secure quantum internet and enhancing distributed quantum computing capabilities.
Rigetti and India's Centre for Development of Advanced Computing Sign MOU to Collaborate on Hybrid Quantum Computing Systems
Collaboration Announcement: Rigetti Computing has signed a Memorandum of Understanding with India's Centre for Development of Advanced Computing (C-DAC) to co-develop hybrid quantum computing systems aimed at enhancing R&D capabilities in quantum technologies for government and academic institutions.
Technological Advancements: The partnership seeks to leverage Rigetti's expertise in superconducting quantum computing and C-DAC's leadership in high-performance computing to innovate in cryogenic electronics and quantum hardware, contributing to India's strategic advancements in next-generation technologies.
Rigetti Computing Partners with Montana State University to Enhance Quantum Research and Innovation
Collaboration Announcement: Rigetti Computing and Montana State University (MSU) have signed a Memorandum of Understanding to enhance quantum computing research and innovation.
QCORE Opening: The opening of MSU's QCORE, a dedicated research center for quantum systems integration, features the installation of a Rigetti Novera QPU, marking MSU as the first academic institution with an on-premises Rigetti quantum computer.
Research Initiatives: The collaboration will focus on various initiatives including quantum hardware research, workforce development, and co-development of quantum technologies, emphasizing the role of public-private partnerships in advancing quantum computing.
Novera QPU Details: The 9-qubit Novera QPU is designed for high-performance operations and is manufactured at Rigetti's dedicated facility, supporting broader research and development efforts in quantum networking hardware.
Rigetti outlines plan for 100-plus qubit quantum system at 99.5% fidelity by year-end while strengthening balance sheet
Management Insights: Rigetti Computing's CEO reported significant advancements in quantum technology, including the launch of the Cepheus-1-36Q system with reduced error rates and plans for a 100-plus qubit system by the end of 2025. The company also raised $350 million through equity offerings to support R&D.
Financial Performance: In Q2 2025, Rigetti's revenue was $1.8 million, down from $3.1 million year-over-year, with gross margins at 31%. Despite an operating loss of $19.9 million, the company maintains a strong cash position of $571.6 million and expresses confidence in meeting future technology milestones amidst ongoing challenges.
