Rigetti Announces New Partnerships, Provides Business Updates at Inaugural Investor Day
FREMONT, Calif., Sept. 16, 2022 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. ("Rigetti" or the "Company") (Nasdaq: RGTI), a pioneer in hybrid quantum-classical computing, will share business developments, including updates regarding its partnerships, Fab-1 facility, and status of its technology roadmap, ahead of its previously announced inaugural investor day.
“As a trailblazer in quantum, Rigetti is focused on delivering performance at scale with the goal of becoming the industry standard,” said Chad Rigetti, founder and CEO of the Company. “We are making strategic investments in quantum hardware, software, and partnerships that we believe will enable us to progress toward Quantum Advantage.”
“In addition, we’re excited to announce several key partnerships,” Rigetti continued. “These include a partnership with Bluefors to develop new modular dilution fridges to support our planned 336Q, 1,000+ qubit, and 4,000+ qubit quantum processing units. Earlier this week, we announced the public preview of our current 80Q Aspen-M-2 and 40Q Aspen-11 systems on Microsoft’s Azure Quantum. Rigetti quantum computers are now available on the world’s two largest public cloud platforms.”
Keysight True-Q Error Mitigation Tools on Rigetti Quantum Cloud Services (QCS™)
“Keysight’s True-Q software brings a broad suite of capabilities that is expected to help Rigetti’s user base achieve higher performance quantum computing,” said Joseph Emerson, Director of Advanced Research, QES at Keysight Technologies. “We have worked together to streamline access for Rigetti customers to Keysight’s advanced quantum compiler technologies. I am excited to see the results of the integration of Keysight software tools with the Rigetti platform.”
Collaboration with NVIDIA to Develop Hybrid GPU-QPU Workflow for Climate Modeling
“Addressing the challenges of an evolving climate is one of society’s most important tasks, and improving our ability to model the climate is essential to making data-driven decisions,” said Tim Costa, Director of HPC and Quantum Product at NVIDIA. “Working with Rigetti, we’ll explore how combining the best of quantum and GPU-accelerated computing can help address this challenge.”
Public Preview of Rigetti Quantum Processors on Microsoft Azure Quantum
Performance at Scale: Aiming to Deliver Next-Generation Hardware in 2023
Cautionary Language Concerning Forward-Looking Statements
Certain statements in this communication may be considered forward-looking statements, including statements with respect to expectations for the anticipated launch of the Company’s 84-qubit quantum computer, 336-qubit multi-chip processor, 1,000+ qubit system, and 4,000+ qubit system, including these systems’ timing and potential performance; expectations relating to the Company’s technology roadmap and the timing thereof; expectations with respect to its partnership with Bluefors, including the development of necessary refrigerators to support the Company’s technology roadmap and the timing thereof; expectations with respect to leveraging fourth generation circuit architecture and introducing higher connectivity and tunable coupling, designed to ultimately deliver fidelities exceeding 99%; the timing, capabilities and capacity of the Company’s fab-1 expansion; expectations with respect to the Company’s partnership with NVIDIA to evaluate the potential for narrow quantum advantage, including the potential to address climate challenges; expectations with respect to the anticipated release of Keysight’s True-Q error mitigation software integrated into Rigetti QCS in the coming months; expectations with respect to the Company’s goal of delivering performance at scale with the [goal/mission] of being the industry standard and the ability of its strategic investments in quantum hardware, software, and partnerships to enable progress toward Quantum Advantage; and expectations relating to growth of the business, including with respect to future potential government and commercial contracts, development activities and expansion of QCaaS. Forward-looking statements generally relate to future events and can be identified by terminology such as “pro forma,” “may,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “will,” “estimate,” “believe,” “predict,” “potential,” “pursue,” “aim,” “goal,” “mission,” “outlook,” “anticipate” or “continue,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Rigetti and its management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: Rigetti’s ability to achieve milestones, technological advancements, including with respect to its roadmap, help unlock quantum computing, and develop practical applications; the ability of Rigetti to complete ongoing negotiations with government contractors successfully and in a timely manner; the potential of quantum computing; the ability of Rigetti to obtain government contracts and the availability of government funding; the ability of Rigetti to expand its QCaaS business; the success of Rigetti’s partnerships and collaborations; Rigetti’s ability to accelerate its development of multiple generations of quantum processors; the outcome of any legal proceedings that may be instituted against Rigetti or others; the ability to meet stock exchange listing standards; the risk that the business combination disrupts current plans and operations of Rigetti; the ability to recognize the anticipated benefits of its recent business combination with Supernova, which may be affected by, among other things, competition, the ability of Rigetti to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; costs related to the business combination with Supernova and operating as a public company; changes in applicable laws or regulations; the possibility that Rigetti may be adversely affected by other economic, business, or competitive factors; Rigetti’s estimates of expenses and profitability; the evolution of the markets in which Rigetti competes; the ability of Rigetti to execute on its technology roadmap; the ability of Rigetti to implement its strategic initiatives, expansion plans and continue to innovate its existing services; the impact of the COVID-19 pandemic on Rigetti’s business; the expected use of proceeds from the Company’s past and future financings or other capital; the sufficiency of Rigetti’s cash resources; unfavorable conditions in Rigetti’s industry, the global economy or global supply chain, including financial and credit market fluctuations and uncertainty, rising inflation, increased costs, international trade relations, political turmoil, natural catastrophes, warfare (such as the ongoing military conflict between Russia and Ukraine and related sanctions against Russia), and terrorist attacks; and other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the registration on Form S-4, the Company’s Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on March 7, 2022, and in the Company’s Form 10-Q for the three months ended March 31, 2022, and other documents filed by the Company from time to time with the SEC, including the Company’s Quarterly Report on Form 10-Q for the three months ended June 30, 2022. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements other than as required by applicable law. The Company does not give any assurance that it will achieve its expectations.
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