Rigetti Computing (RGTI) – Investment Thesis: Innovation Amid Financial Headwinds
Company Overview Founded in 2013 and publicly listed in 2022, Rigetti Computing is a pioneer in superconducting quantum computing. The company designs and manufactures quantum processing units (QPUs) based on Josephson Junctions (JJs), which enable precise control of qubit frequencies through quantum tunneling. Despite known challenges such as energy loss and reproducibility, superconducting qubits remain a leading architecture due to their scalability and manufacturability. Rigetti’s fabrication process leverages Alternating-Bias Assisted Annealing (ABAA) to enhance qubit frequency precision and gate execution. This technique underpins the performance of its flagship systems, including the Novera™ QPU and the newly launched Ankaa™-3 . Product Milestones Novera QPU (Dec 2023): Rigetti’s first commercial quantum processor, featuring a 9-qubit chip with tunable couplers and a 5-qubit chip for single-qubit gate testing. Ankaa™-3 System (Launched Dec 2024): An 84...