Rigetti Computing, Inc. (NASDAQ: RGTI) shares are rising notably on the US stock charts following the completion of a significant equity move. As of the latest check, RGTI shares were on a surge of more than 47%, trading at $2.57. This rise follows the sale of $100 million worth of common shares by RGTI, which was started in March 2024 as part of its “at-the-market” (ATM) equity offering program.
Using Proceeds Wisely for Innovation and Growth
The funds raised from this stock sale will go toward working capital and capital expenditures, among other company projects. As a pioneer in superconducting quantum computing, Rigetti Computing plans to keep concentrating on its strategic role. The company’s specific goals are to improve the integrity of its 2-qubit gates and expand them to bigger qubit systems. These developments are essential to Rigetti’s goal of continuing to be a pioneer in the rapidly changing field of quantum computing.
The Increasing Attraction of Quantum Computing
With Rigetti’s technology attracting interest from both national laboratories and university organizations, this share offering demonstrates considerable market interest in the quantum computing sector. These entities are increasingly seeking on-premises quantum computing systems to facilitate hands-on research and development. As quantum technologies advance and new applications emerge, RGTI anticipates growing interest from both the private sector and industries looking to capitalize on quantum computing’s potential.
A Roadmap for Expanding Capabilities
Rigetti’s recent roadmap for 2025 highlights an ambitious path forward. By mid-2025, the company plans to release a 36-qubit system based on a modular architecture featuring four 9-qubit chips. The system will aim for a median 2-qubit fidelity of 99.5%. Additionally, by the end of 2025, RGTI expects to introduce a system with over 100 qubits.
This progress will be underpinned by the company’s innovative Alternating-Bias Assisted Annealing (ABAA) chip fabrication technique, which ensures precise targeting of qubit frequencies. Together with its modular architecture, this technique will be central to Rigetti’s strategy for scaling up its quantum computing systems.