Rigetti Computing
American quantum computing company From Wikipedia, the free encyclopedia
Rigetti Computing, Inc. is a 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]
| |
| Company type | Public |
|---|---|
| Nasdaq: RGTI | |
| Industry | Quantum computing |
| Founded | 2013 |
| Founder | Chad Rigetti |
| Headquarters | Berkeley, California, United States |
Key people | Subodh Kulkarni (CEO) |
| Products | Quantum integrated circuits Forest quantum computing software |
| Revenue | US$10.8 million (2024) |
| US$−69 million (2024) | |
| US$−201 million (2024) | |
| Total assets | US$285 million (2024) |
| Total equity | US$127 million (2024) |
Number of employees | 140 (2025) |
| Website | rigetti |
| Footnotes / references [1] | |
History
Summarize
Perspective
Rigetti Computing was founded in 2013 by Chad Rigetti, a physicist with a background in quantum computers from IBM, and studied under Michel Devoret.[2][3] The company emerged from startup incubator Y Combinator in 2014 as a so-called "spaceshot" company.[4][5] Later that year, Rigetti also participated in The Alchemist Accelerator, a venture capital programme.[5]
By February 2016, Rigetti created its first quantum processor, a three-qubit chip made using aluminum circuits on a silicon wafer.[6] 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.[5]
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.[7][8] This deal was expected to raise an additional US$458 million, bringing the total funding to US$658 million.[7] 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.[9] The SPAC deal closed on 2 March 2022, and Rigetti began trading on the NASDAQ under the ticker symbol RGTI.[10]
In December 2022, Subodh Kulkarni became president and CEO of the company.[11]
In July 2023 Rigetti launched a single-chip 84 qubit quantum processor that can scale to even larger systems.[12]
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.[13]
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.[13][14] 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.[13]
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.[15] MIT Technology Review named the company one of the 50 smartest companies of 2017.[16]
Locations
Rigetti Computing is headquartered in Berkeley, California, where it hosts developmental systems and cooling equipment.[15] The company also operates its Fab-1 manufacturing facility in nearby Fremont.[2]
See also
References
External links
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