Rigetti Computing and D-Wave Quantum remain key players in quantum computing sector
What happened
Rigetti Computing and D-Wave Quantum are recognized as popular pure-play picks in the quantum computing industry. Both companies are receiving government support, with the U.S. government having invested up to $100 million each in both firms under the 2022 CHIPS and Science Act. Rigetti Computing reported a $28.1 million operating loss for the quarter, while D-Wave Quantum reported a $53.3 million loss from operations in its second quarter.
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Why it matters
The companies are currently in a high-investment phase, as quantum computing is still years from commercial viability. Rigetti had more revenue than D-Wave in the quarter, but D-Wave saw its first-half backlog surge by 1,120% year over year to $35.5 million.
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Who's involved
- Rigetti ComputingAmerican cloud quantum computing company
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Rigetti ComputingSpeculative
Rigetti Computing could see its core business model validated through government funding via the CHIPS Act.
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The entities involved
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Rigetti Computing
American cloud quantum computing company
Related events
- Market assessment notes that both Rigetti Computing and IONQ are classified as pure-play quantum computing stocks.
- IBM, Rigetti Computing, Quantinuum, and IONQ are competing in the high-stakes quantum computing sector.
- Rigetti Computing installed a Novera QPU at Montana State University to advance quantum research and support the regional ecosystem.
- Rigetti Computing expects revenue from an order placed by a company in India, highlighting its operational base in the quantum computing sector.
- AT&T is expanding its use of quantum technology while IBM launches a new quantum chip foundry.