Rigetti Computing, Inc. (NASDAQ: RGTIW)

Rigetti Computing, Inc. builds and operates quantum computers based on superconducting qubits. The company designs, manufactures, and delivers quantum processing units and provides cloud-based access to its systems through a full-stack development approach that integrates chip design, manufacturing, software, and services. Rigetti focuses on advancing quantum computing technology to solve computationally complex problems in fields such as drug discovery, materials science, finance, and artificial intelligence.

Rigetti generates revenue through technology development contracts with government and commercial partners, sales of quantum processing units, and cloud-based quantum computing services. The company offers its Rigetti Quantum Cloud Services platform directly to customers and through distribution agreements with cloud providers such as Amazon Braket and Microsoft Azure Quantum. Rigetti also provides foundry services for quantum chip fabrication and professional services to support customer algorithm development and system integration.

The company operates through the following segments: Quantum Computing Systems, Quantum Cloud Services, and Foundry and Professional Services.

• The Quantum Computing Systems segment includes the design, manufacture, and sale of quantum processing units such as the Novera QPU and Cepheus-1-36Q system, along with related hardware components and system integration for on-premises deployments.

• The Quantum Cloud Services segment provides access to quantum computers over the cloud via the Rigetti Quantum Cloud Services platform, enabling users to run quantum algorithms and applications through direct and indirect distribution models with cloud service providers.

• The Foundry and Professional Services segment leverages Rigetti’s in-house wafer fabrication facility (Fab-1) to produce superconducting quantum chips for external customers and offers fee-based services such as algorithm development, benchmarking, and software development to enhance customer readiness for quantum computing.

Rigetti operates in the emerging quantum computing industry, competing with companies such as IBM, Google, Microsoft, IonQ, D-Wave, Quantinuum, and PsiQuantum. The company differentiates itself through its vertically integrated model, proprietary multi-chip quantum processor architecture, fast gate speeds, and in-house fabrication capabilities at Fab-1, which enable rapid design-fab-test cycles and control over the full technology stack.

Rigetti serves a diverse customer base that includes commercial enterprises such as Amazon Web Services, Standard Chartered Bank, Moody’s, and HSBC; U. S. government organizations such as the Defense Advanced Research Projects Agency, Department of Energy, and Air Force Research Laboratory; and international entities such as India’s Centre for Development of Advanced Computing. The company also collaborates with research institutions, national laboratories, and quantum-focused software companies like Riverlane and Phasecraft.