Rigetti Stock Rockets After Company Hits 99.5% Accuracy With Modular Quantum Chip

Rigetti Computing Inc. (RGTI) announced on Wednesday that its new 36-qubit quantum system has achieved 99.5% accuracy in key operations, marking a big step toward making quantum computers more powerful and dependable.

This major technical milestone is expected to strengthen the firm’s position in the race toward scalable quantum systems. 

Following the announcement, Rigetti Computing stock surged 15% on Wednesday after the morning bell.

This latest achievement represents a twofold improvement in the two-qubit gate error rate when compared to Rigetti’s earlier results from its 84-qubit Ankaa-3 chip. 

The 36-qubit system, composed of four 9-qubit chiplets, is based on Rigetti’s modular chip design and marks a critical step toward its goal of developing a 100+ qubit chiplet-based system by late 2025.

Rigetti is set to debut its 36-qubit system on August 15. 

“We benefit from the many advantages of superconducting qubits, including gate speeds more than 1,000x faster than other modalities like ion trap and pure atoms, and scalability,” said CEO Subodh Kulkarni.

“We look forward to sharing more updates when we release our operating results for the second quarter of 2025.”

Rigetti Computing has positioned itself as a frontrunner in full-stack quantum technology, offering both cloud-based and on-premises quantum systems. 

In 2021, Rigetti expanded its offerings to include on-premises quantum systems, featuring 24 to 84 qubits, tailored for national labs and computing centers.

Rigetti held $37.2 million in cash and equivalents as of the end of March.

On Stocktwits, retail sentiment toward Rigetti Computing improved to ‘bullish’ from ‘neutral’ the previous day. Message volume levels jumped to ‘high’ from ‘normal’ in the last 24 hours.

Rigetti Computing stock has lost over 4% year-to-date and has gained over tenfold in the last 12 months.

Also See: Wells Fargo Sees More Upside For AMD As Datacenter Growth Accelerates: Retail Maintains Optimism

For updates and corrections, email newsroom[at]stocktwits[dot]com.