Rigetti Signs Definitive Agreement for $100M with U.S. Government for Quantum Computing R&D

Insider Brief

Rigetti has signed a definitive agreement with the U.S. Department of Commerce for $100 million in CHIPS Act funding to accelerate superconducting quantum computing R&D.

The funding will support projects focused on integrated readout electronics, expanded cryogenic capacity, and fabrication of high-connectivity quantum chips.

As a condition of the funding, the Department of Commerce will receive a minority, non-controlling equity stake in Rigetti.

PRESS RELEASE — Rigetti Computing, Inc. (Nasdaq: RGTI) (“Rigetti” or the “Company”), a pioneer in full-stack quantum-classical computing, today announced that its wholly owned subsidiary, Rigetti & Co, LLC, has signed a definitive agreement with the U.S. Department of Commerce (the “Department”) for an award of $100 million in funding to accelerate superconducting quantum computing R&D.