Quantum computing is progressing faster than expected, with Rigetti Computing achieving a major breakthrough. The company reached 99.5% median 2-qubit gate fidelity using a modular 36-qubit system-halving its error rate and moving closer to fault-tolerant computing.
The new machine, built from four 9-qubit chiplets, represents the industry's largest multichip quantum system. Its modular design addresses the scalability challenges of single-chip models.
Rigetti's superconducting qubits also outperform rivals by operating at significantly faster speeds.
Plans are in place to launch a 100+-qubit system before the end of 2025. Backing from DARPA, the US Air Force, and the UK government further validates Rigetti's approach. Partnerships with Nvidia and Quanta Computer add commercial strength.
Despite modest revenue, Rigetti holds $575 million in cash with no debt and owns the sector's first dedicated quantum chip factory. True commercial quantum advantage is expected between 2026 and 2028.
Shares of Rigetti, along with other quantum computing firms like IonQ and D-Wave, have surged in recent months, outperforming the broader market.
Rigetti offers strong potential-but remains a high-risk pick in a competitive field.
