Rigetti Launches 108-Qubit Cepheus 1 as It Secures Up to $100 Million in CHIPS Act Funding
Updated
Updated · Simply Wall St · Jun 10
Rigetti Launches 108-Qubit Cepheus 1 as It Secures Up to $100 Million in CHIPS Act Funding
1 articles · Updated · Simply Wall St · Jun 10
Summary
Rigetti made its 108-qubit Cepheus 1 quantum processor broadly available on major cloud platforms, expanding access for commercial and research users.
Up to $100 million in proposed CHIPS Act support from the U.S. Commerce Department could add government backing to that product push, with the nonbinding deal also allowing for a potential minority equity stake.
The twin announcements sharpen Rigetti's ties to both cloud-based customers and U.S. industrial policy, putting focus on whether processor usage converts into revenue from its roughly $10 million base.
At $19.69, the stock remains highly volatile—up 75.2% over the past year but down 16.6% year to date and 26.7% over the past week—as investors weigh adoption, cash needs and continued losses.
Will Rigetti’s new 108-qubit computer deliver real-world solutions or is it just another milestone in a hype-fueled industry?
With a new chip and federal funding, can Rigetti win the quantum race before its cash reserves run dry?
As the U.S. invests billions in quantum, is it backing future tech giants or funding an expensive science experiment?
Rigetti Unveils 108-Qubit Cepheus-1 and Secures $100M CHIPS Act Funding: Technical Milestones and Strategic Impact
Overview
Rigetti has achieved a major milestone with the launch of its 108-qubit Cepheus-1 system, now available to a wide range of users through Amazon Braket. This system allows customers to develop, test, and run quantum programs using popular SDKs, and offers advanced features like pulse-level access for complex research. Comprehensive resources and tutorials are provided to support users, making it easier for both new and experienced researchers to get started. The immediate accessibility and robust support tools highlight Rigetti’s commitment to broadening access and accelerating progress in quantum computing.