$Rigetti Computing (RGTI.US)$ shares are trading 15% higher Thursday morning, despite a lack of company-specific news for the session. Rigetti shares have gained some 445% over the past month amid marked strength in quantum computing-related stocks.
Additionally, the company's December release of its 84-qubit Ankaa-3 quantum computer has also captured investor attention.
What To Know: Ankaa-3 features superior two-qubit gate fidelities, achieving 99.0% for iSWAP gates and 99.5% for fSim gates, coupled with reduced error rates. The company says these improvements are critical for advancing quantum computing toward practical applications in cryptography, optimization and drug discovery.
Rigetti Computing says the system also delivers fast gate speeds—72-nanosecond median times for iSWAP and 56 nanoseconds for fSim—ideal for complex data processing tasks like random circuit sampling.
The company says the machine is now accessible through Rigetti Quantum Cloud Services and will debut on platforms like Amazon Braket and Microsoft Azure in early 2025.
Rigetti's forward-looking plans include a modular 36-qubit system in mid-2025 and a 100+ qubit system by year-end, with further reductions in error rates.
CEO Dr. Subodh Kulkarni in December also highlighted Rigetti's $225 million cash position and absence of debt, emphasizing confidence in delivering its roadmap.
