Rigetti signs a $100M US Commerce Department agreement to scale superconducting quantum computers

Rigetti Computing

Rigetti's subsidiary signed a definitive agreement for a $100 million award from the US Department of Commerce, funded through the CHIPS Research and Development Office. The money goes to three R&D projects aimed at scaling superconducting quantum computers toward utility-scale machines.

• The projects are a smaller, integrated readout electronics package, a new cryostat architecture that expands cryogenic capacity by orders of magnitude, and fabrication for high-connectivity chip architectures.
• The Department will receive a minority, non-controlling equity stake in Rigetti as a condition of the funds, which brings possible dilution for existing stockholders.
• The release sets no milestones, completion dates or disbursement timeline for the three projects.
• Rigetti says it cannot guarantee it will achieve the projects' aims or its technology milestones.