Rigetti Computing (RGTI) - Investment Thesis
Rigetti Computing builds quantum chips, integrates them with a controlling architecture, and develops software for programmers to build quantum algorithms.The company was founded in 2013 and went public in 2022. The basis of Rigetti’s superconducting qubits are Josephson Junctions (JJs), which are two thin layers of superconducting metal (aluminum) separated by a barrier (aluminum oxide). Electrons can tunnel across the insulator from one electrode to another — resulting in a characteristic frequency for the qubit that allows for it to be controlled and measured. While the reproducibility and energy loss in these junctions has been difficult to control, the simplicity, scalability, and ease of fabrication of these superconducting devices makes them one of the most desirable platforms for building quantum computers. Finding a solution to the junction reproducibility problem has been a long-standing goal in the field.