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Rigetti Computing

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Overview

Rigetti Computing, Inc., founded in 2013 by Chad Rigetti, is a pioneering company in the field of quantum computing, headquartered in Berkeley, California. The company has established itself as a full-stack quantum computing provider, designing and fabricating quantum chips, developing necessary software, and offering cloud-based quantum computing services.

Founding and Early History

Chad Rigetti, a physicist with a background in quantum computers from IBM, established the company after participating in the Y Combinator startup incubator in 2014. Rigetti Computing also went through The Alchemist Accelerator, a venture capital program, the same year. The company has received significant funding, including Series A and B rounds led by Andreessen Horowitz and Vy Capital, respectively.

Technology and Products

Rigetti's key technological offerings include:

  1. Quantum Processors: The company has developed several quantum processors, including the 9-qubit Novera QPU and the 84-qubit Ankaa-2 system, which boasts a 98% median 2-qubit gate fidelity.
  2. Forest Cloud Platform: A cloud computing platform allowing developers to write and execute quantum algorithms using the Quantum Instruction Language (Quil) and open-source Python tools.
  3. Fab-1 Manufacturing Facility: Located in Fremont, California, this facility is dedicated to the rapid prototyping and fabrication of integrated quantum circuits.

Recent Developments

  • December 2022: Subodh Kulkarni appointed as President and CEO
  • July 2023: Launch of a single-chip 84-qubit quantum processor
  • December 2023: Public availability of the 84-qubit Ankaa-2 system
  • Announced plans for the Ankaa-3 system (targeting 99% median 2-qubit gate fidelity by end of 2024) and the 336-qubit Lyra system

Public Listing and Funding

In March 2022, Rigetti completed a SPAC merger and began trading on NASDAQ under the ticker symbol RGTI. This move aimed to raise additional funding to accelerate the company's growth and scale its quantum processors.

Services and Clients

Rigetti offers cloud access to quantum processors, algorithm development, benchmarking, and software development services. The company serves commercial enterprises, government organizations, and international government entities, including the UK's National Quantum Computing Centre and the Air Force Research Lab (AFRL).

Recognition

Rigetti Computing has been recognized as one of the leaders in the quantum computing space, alongside companies like IBM and Google. It was named one of the 50 smartest companies of 2017 by MIT Technology Review.

Leadership Team

Rigetti Computing's leadership team comprises experienced professionals with diverse backgrounds in technology, semiconductor industry, and quantum computing. Key members include:

Dr. Subodh Kulkarni - President and CEO

Appointed in December 2022, Dr. Kulkarni brings over three decades of semiconductor industry experience. He has held leadership roles at CyberOptics Corporation, Prism Computational Sciences, Imation, 3M, and IBM. Dr. Kulkarni holds a B.S. in chemical engineering from the Indian Institute of Technology, Mumbai, and an M.S. and Ph.D. in chemical engineering from MIT.

David Rivas - Chief Technology Officer

Appointed in February 2023, Rivas previously served as the Senior Vice President, Systems and Services at Rigetti since March 2019. He has held executive roles at Sun Microsystems, Nokia, Bolt Threads, and Stage 3 Systems. Rivas holds a B.S. in electrical engineering and an M.S. in computer engineering from the University of California, San Diego.

Jeffrey Bertelsen - Chief Financial Officer

Appointed in February 2023, Bertelsen has over 25 years of executive experience in the hi-tech industry. He previously served as CFO and COO at CyberOptics Corporation and held various finance positions at Computer Network Technology Corporation. Bertelsen was also a CPA with KPMG, LLP and holds a B.S. in accounting and finance from the University of Minnesota.

Dr. Andrew Bestwick - Senior Vice President, Quantum Systems

Serving since January 2024, Dr. Bestwick has worked in various technical capacities at Rigetti since August 2015, including chip fabrication, circuit design, and system architecture. He holds an A.B. in physics and mathematics from Harvard University and a Ph.D. in physics from Stanford University.

Jackie Kaweck - Senior Vice President, Human Resources

Kaweck has been with Rigetti since July 2021, bringing over 20 years of experience in Human Resources and leadership development. She holds a B.S. in finance from the University of Florida and an MBA from the University of Chicago. This diverse leadership team guides Rigetti Computing's strategic direction and growth in the competitive quantum computing sector.

History

Rigetti Computing, founded in 2013 by Chad Rigetti, has established itself as a pioneer in quantum computing. Here's an overview of the company's key milestones and developments:

Founding and Early Years (2013-2016)

  • 2013: Chad Rigetti, a former IBM quantum computing researcher, founds Rigetti Computing
  • 2014: Participates in Y Combinator startup incubator and The Alchemist Accelerator
  • February 2016: Creates first quantum processor, a three-qubit chip
  • 2016: Raises $24 million in Series A funding led by Andreessen Horowitz, followed by $40 million in Series B funding led by Vy Capital

Growth and Innovation (2017-2020)

  • 2017: Advances to testing eight-qubit quantum computers
  • June 2017: Launches public beta of Forest 1.0, a quantum cloud computing platform
  • 2018: Announces development of a 128-qubit quantum processor
  • 2019: Opens first quantum computing research facility in Fremont, California

Expansion and Public Listing (2021-Present)

  • October 2021: Announces plans to go public via SPAC merger
  • March 2, 2022: Completes SPAC merger and begins trading on NASDAQ (RGTI)
  • December 2022: Appoints Subodh Kulkarni as President and CEO
  • July 2023: Launches single-chip 84-qubit quantum processor
  • December 2023: Makes 84-qubit Ankaa-2 system publicly available

Key Products and Technologies

  • Full-stack quantum computing model: Designs and fabricates quantum chips, integrates controlling architecture, and develops software
  • Forest Cloud Platform: Allows developers to access quantum processors and write quantum algorithms
  • Fab-1: Rapid prototyping fabrication lab for qubit-based quantum hardware

Recognition and Partnerships

  • Named one of the 50 smartest companies of 2017 by MIT Technology Review
  • Collaborates with leading organizations in academia and industry to explore quantum computing applications in drug discovery, materials science, and optimization Rigetti Computing continues to advance quantum computing technology, aiming to develop more powerful and efficient quantum processors while expanding its cloud-based quantum computing services.

Products & Solutions

Rigetti Computing, a pioneer in quantum computing, offers a comprehensive suite of products and solutions:

  1. Quantum Processors and Hardware
  • Ankaa™ series of superconducting quantum integrated circuits
  • Scalable, tileable architecture with tunable-coupler design
  • Enhanced readout capabilities and fast gate times
  • Optimized two-qubit entangling gate mechanisms (e.g., ISWAP gates)
  1. Cloud Computing Platform - Forest
  • Remote access to quantum processors
  • Supports Quil (Quantum Instruction Language)
  • Enables hybrid quantum/classical computing
  • Integrates with open-source Python tools
  1. Fab-1 Manufacturing Facility
  • In-house design and manufacturing of quantum chips
  • Rapid prototyping and testing of 3D-integrated quantum circuits
  1. Software and Compiler Tools
  • Optimization of user programs into machine-native instructions
  • Hardware controller for precise qubit manipulation
  1. Industry Applications
  • Solutions for finance, insurance, pharmaceuticals, defense, and energy sectors
  • Focus on simulation, optimization, and machine learning
  1. Collaborations and Integrations
  • Partnership with AWS to offer access through AWS Braket service
  1. Research and Development
  • Ongoing projects, including DARPA contract for quantum application benchmarks Rigetti's end-to-end approach covers quantum chip design, fabrication, software development, and cloud platform integration, positioning the company as a full-stack provider in the quantum computing landscape.

Core Technology

Rigetti Computing's core technology revolves around several key innovations in quantum computing:

  1. Quantum Processors
  • Based on superconducting qubit technology
  • Universal, gate-model machines with tunable superconducting qubits
  • Latest flagship: Ankaa-3, an 84-qubit quantum processor
  1. Architecture and Gate Mechanisms
  • Tileable, tunable-coupler based architecture
  • Parametric-resonance and fast DC pulse-based logic gates
  • ISWAP two-qubit entangling gate mechanism
  1. Quantum Cloud Services Platform (QCS)
  • Forest cloud computing platform
  • Quil (Quantum Instruction Language) for programming
  • Hybrid quantum/classical computing support
  1. Fabrication and Manufacturing
  • In-house Fab-1 facility for quantum chip production
  • Rapid prototyping and 3D-integrated quantum circuits
  1. Performance Metrics
  • Ankaa-3 system achievements:
    • 99.5% median two-qubit gate fidelity for fSim gates
    • 99.0% for iSWAP gates
  • Enhanced readout capabilities and optimized qubit chip design
  1. Scalability and Future Plans
  • 36-qubit system planned for mid-2025
  • 100+ qubit system targeted for end of 2025
  • Focus on error rate reduction and fidelity improvements Rigetti's technology stack combines advanced hardware, robust cloud infrastructure, and continuous innovation in fabrication and performance optimization, positioning the company at the forefront of full-stack quantum computing solutions.

Industry Peers

Rigetti Computing operates in the competitive quantum computing sector, with peers in two main categories:

  1. Broader Semiconductor and Technology Industry
  • Diodes Incorporated (DIOD)
  • Synaptics Incorporated (SYNA)
  • Ambarella, Inc. (AMBA)
  • Power Integrations, Inc. (POWI)
  • Silicon Motion Technology Corporation (SIMO)
  • Advanced Micro Devices (AMD)
  • International Business Machines (IBM)
  • Nvidia (NVDA)
  1. Quantum Computing Specialists
  • Pasqal: Quantum solutions for energy, mobility, healthcare, finance, and public services
  • Infleqtion (formerly ColdQuanta): Quantum software, cores, data products, and information platforms
  • Quantum Circuits: Complex problem-solving quantum computers
  • QuantWare: Superconducting quantum processor development
  • PsiQuantum: Photonics-based quantum computing
  • SEEQC: Digital quantum computing with classical-quantum integration
  • Alice & Bob: Self-correcting superconducting qubit quantum computers
  • IQM: Superconducting quantum computers for research and industry
  • Oxford Quantum Circuits: Quantum computer commercialization
  • Silicon Quantum Computing: Silicon-based quantum computer development These companies represent Rigetti's main competitors and collaborators in the rapidly evolving quantum computing landscape. While some focus on specific niches or technologies, others, like Rigetti, aim to provide comprehensive quantum computing solutions across various industries and applications.

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