Rigetti Computing, a pioneer in full-stack quantum-classical computing, has announced its financial results for the third quarter of 2024 and updated its technology roadmap. The company plans to introduce a new modular system architecture in 2025, to release a 36-qubit system by mid-year and a system with over 100 qubits by the end of 2025. Rigetti is also developing its 84-qubit Ankaa-3 system, which is expected to achieve a 99+% median 2-qubit gate fidelity by the end of 2024.
According to Dr. Subodh Kulkarni, CEO of Rigetti, the company’s approach to scalability, mirroring multi-chip architectures for advanced applications with CMOS, is supported by its recently announced Alternating-Bias Assisted Annealing (ABAA) technique for precisely targeted qubit frequencies. The combination of ABAA and a multi-chip architecture is the cornerstone of Rigetti’s scaling strategy as it develops higher qubit count systems.
Rigetti has also demonstrated real-time and low-latency quantum error correction with superconducting qubits, in collaboration with Riverlane. Additionally, a Novera QPU has been co-located at the Israeli Quantum Computing Center (IQCC) for research and experimentation.
Rigetti Computing Reports Third Quarter 2024 Financial Results and Business Updates
Rigetti Computing, Inc., a pioneer in full-stack quantum-classical computing, has announced its financial results for the third quarter ended September 30, 2024, along with business updates. The company reported total revenues of $2.4 million, total operating expenses of $18.6 million, and an operating loss of $17.3 million. As of September 30, 2024, Rigetti had cash, cash equivalents, and available-for-sale securities totaling $92.6 million.
Technology Roadmap Updates
Rigetti has provided updates to its technology roadmap, including plans to introduce a new modular system architecture in 2025. The company expects to release a 36-qubit system based on four 9-qubit chips tiled together with a targeted 99.5% median 2-qubit fidelity by mid-year 2025. By the end of 2025, Rigetti aims to release a system with over 100 qubits with a targeted 99.5% median 2-qubit fidelity.
The company’s approach to scalability is supported by its recently announced Alternating-Bias Assisted Annealing (ABAA) technique for precisely targeted qubit frequencies. ABAA allows for the consistent manufacture of high-performance quantum processing units (QPUs) with the frequency precision necessary for high fidelities. The combination of the ABAA technique and a multi-chip architecture is the cornerstone of Rigetti’s scaling strategy as it moves into developing higher qubit count systems.
Demonstrating Real-Time and Low-Latency Quantum Error Correction
Quantum error correction (QEC) will be essential to achieve the accuracy needed for quantum computers to realize their full potential. Rigetti, in collaboration with Riverlane, is working to advance understanding of how to build fault-tolerant quantum computers using QEC technology.
A recent paper by Rigetti and Riverlane demonstrates how integrating Riverlane’s quantum error decoder into the control system of Rigetti’s 84-qubit Ankaa-2 system enabled the achievement of real-time, low-latency quantum error correction. This is a critical process for developing fault-tolerant quantum computers.
Novera QPU located at Israeli Quantum Computing Center
Rigetti believes its 9-qubit Novera QPU is ideal for experimentation across various research areas, including qubit characterization and hybrid quantum algorithms. A Novera QPU has been co-located at the Israeli Quantum Computing Center (IQCC) with Quantum Machines’ OPX1000 control system and NVIDIA’s Grace-Hopper superchip servers.
The set-up was recently leveraged for a reinforcement learning project, which was presented at IEEE Quantum Week 2024 in September. The demonstration entailed optimizing single qubit operations on the Novera QPU, showcasing an exciting use case for using a Novera QPU for quantum machine learning development.
Novel Chip Fabrication Process for Scalable, High-Performing QPUs
Rigetti has introduced a novel chip fabrication technique, ABAA, which allows for qubit frequencies to be precisely targeted prior to a chip being packaged. The technique entails applying a series of low, alternating voltages at room temperature to the junctions that form the qubit.
The company found that leveraging ABAA enables improved execution of 2-qubit gates and a reduction in defects, both contributing to higher fidelity. Rigetti is leveraging the ABAA technique to fabricate chips for the Novera QPU and the upcoming Ankaa-3 system.
The National Quantum Computing Centre (NQCC) officially opened its landmark facility on Harwell Campus on October 25, 2024. The facility will support world-class quantum computing research and provide state-of-the-art laboratories for designing, building, and testing quantum computers. The state-of-the-art facility includes a fully operational 24-qubit Ankaa-class system that will be made available to NQCC researchers for testing, benchmarking, and exploratory applications development.
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