U.S. to Invest $2 Billion in 9 Quantum Firms as Rigetti Wins $100 Million Stake
Updated
Updated · The Motley Fool · Jun 18
U.S. to Invest $2 Billion in 9 Quantum Firms as Rigetti Wins $100 Million Stake
3 articles · Updated · The Motley Fool · Jun 18
Summary
$2 billion in planned U.S. funding will buy equity stakes in nine quantum computing companies, a government push to strengthen U.S. leadership in the sector.
Rigetti Computing is set to receive $100 million over three years, and its shares have risen 20% since the announcement.
Quantum systems still face major technical limits: Rigetti's 108-qubit Cepheus-1-108Q posts 99.1% two-qubit fidelity, leaving error rates too high for many practical uses.
Rigetti's finances remain thin despite the backing, with first-quarter revenue of $4.4 million against a $20.5 million net loss and a $7 billion market value.
The gap between quantum's long-term promise and current commercial reality remains wide, with some estimates putting broad disruptive use 20 to 40 years away.