Rigetti Computing Slips to 103rd in Trading Volume Despite Quantum Computing Breakthroughs

On May 28, 2025, Rigetti Computing (RGTI) experienced a significant decline, with its trading volume dropping by 32.8% to 7.39 billion, placing it at the 103rd position in the day's stock market rankings. The stock price decreased by 0.21%.
Rigetti Computing has made strategic moves that position it at the forefront of the quantum computing revolution. The company's partnership with Quanta Computer, a Taiwanese server manufacturing giant, is a significant development. This collaboration, backed by over $200 million in combined investments over five years, merges Rigetti's quantum expertise with Quanta's global manufacturing capabilities. This synergy aims to address critical bottlenecks in scaling qubit counts and reducing production costs, leveraging Quanta's semiconductor manufacturing infrastructure to benefit Rigetti's superconducting qubits.
Rigetti's Ankaa-3 system, launched in late 2024, showcases the company's technical ambition with an 84-qubit architecture achieving 99.5% two-qubit gate fidelity and gate speeds as fast as 56 nanoseconds. The system's AI-driven calibration tools, such as Quantum Elements and Qruise, integrated with NVIDIA's DGX Quantum system, automate qubit tuning, reducing operational costs and accelerating deployment. This capability is crucial for enterprise adoption and positions Rigetti competitively in the quantum computing landscape.
Rigetti's 2025 roadmap includes ambitious milestones, such as launching a 36-qubit system mid-year targeting a 50% further error reduction and an over-100-qubit system by year-end. These developments aim to solidify Rigetti's path to hundreds of qubits, the threshold for commercial advantage. The company's financials, with $225 million in cash and no debt, support its roadmap without dilution. Cloud revenue of $10.8 million annually, up from $3.6 million in 2022, signals growing adoption by enterprises and researchers.
Rigetti's partnerships with AWS and Microsoft Azure, with Ankaa-3 access planned by Q1 2025, embed its systems into the AI cloud ecosystems driving today's tech economy. The integration of quantum and classical computing aligns with AI's computational needs, potentially revolutionizing fields from drug discovery to climate modeling. CEO Subodh Kulkarni's timeline of 4–5 years to quantum advantage is ambitious but grounded, with a $2.5 billion market cap versus a projected $850 billion quantum economy by 2040, indicating significant upside potential.

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