Rigetti Computing has achieved a major milestone by entering a strategic partnership with Quanta Computer, a prominent player in electronics manufacturing. This collaboration underscores a long-term commitment to enhancing quantum computing technologies through combined financial investment, technological integration, and strategic collaboration. Quanta has agreed to invest $35 million in equity in Rigetti, which reflects a strong belief in Rigetti’s vision for quantum development. Over the next five years, both companies are set to invest more than $100 million each into joint development projects aimed at accelerating the commercialization of superconducting quantum processors. This initiative will focus on creating scalable, fault-tolerant systems suitable for diverse applications across academia, enterprise, and government sectors.
This partnership not only provides financial support but also allows Rigetti to take advantage of Quanta’s extensive manufacturing capabilities, global presence, and operational resources. Securing a collaboration with a major hardware manufacturer is crucial for Rigetti as it transitions from the research phase to producing commercially viable quantum computing systems. The companies plan to concentrate on the production and distribution of Rigetti’s advanced quantum processing units, integrating them into wider computing infrastructures, and exploring applications across fields such as logistics, pharmaceuticals, and machine learning. The partnership comes at a pivotal time, shortly after the launch of Rigetti’s Ankaa-3, an advanced 84-qubit system with an impressive 99.5% two-qubit gate fidelity, positioning Rigetti for rapid real-world deployment in the burgeoning quantum computing market.
Several peer companies are exploring similar collaborations. Recently, IonQ partnered with General Dynamics Information Technology to develop quantum solutions for defense and governmental use. Meanwhile, D-Wave Quantum announced its alliance with Carahsoft Technology to introduce its quantum computing technologies to public sector organizations through a robust reseller network.
In terms of market performance, Rigetti has faced challenges, with shares of RGTI dropping 22.6% year-to-date, contrasting the industry’s growth of 10.5%. The company’s current valuation reflects a price-to-book ratio of 16.38, which exceeds the industry average, and it has a Zacks Rank of 4 (Sell). However, the Zacks Consensus Estimate points towards a hopeful future, predicting an 86.1% increase in Rigetti’s 2025 earnings compared to the previous year.
These developments highlight the ongoing advancements in the quantum computing sector and Rigetti’s proactive approach to securing partnerships that will likely enhance its capabilities and market position in the years to come.