Rigetti Signs $100M Agreement with US Government


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Rigetti Signs Definitive Agreement for $100M with U.S. Government
Berkeley, CA, USA - Rigetti Computing, Inc. (Nasdaq: RGTI), a pioneer in full-stack quantum-classical computing, announced that its wholly owned subsidiary, Rigetti & Co, LLC, has signed a definitive agreement with the U.S. Department of Commerce for an award of $100 million in funding.
The funding is allocated under the CHIPS Research and Development Office Broad Agency Announcement pursuant to the CHIPS Act. Under the agreement, Rigetti will pursue three R&D projects aimed at addressing major technical bottlenecks in scaling superconducting quantum computers and accelerating its roadmap toward utility-scale quantum computing.
Transaction Details
- Award amount: $100 million from the U.S. Department of Commerce.
- Focus areas: Compressing readout electronics, expanding cryogenic capacity, and developing high-connectivity chip fabrication.
- Equity stake: The Department will receive a minority, non-controlling equity stake in Rigetti as a condition for receiving the funds.
About Rigetti Computing, Inc.
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