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Rigetti Computing, Inc.(NasdaqCM:RGTI) added to S&P TMI Index

2022-06-21 00:00:00

Rigetti Computing, Inc.(NasdaqCM:RGTI) added to S&P TMI Index

Rigetti Computing, Inc. has filed a Shelf Registration in the amount of $172.075683 million.

2022-06-10 00:00:00

Rigetti Computing, Inc. has filed a Shelf Registration in the amount of $172.075683 million. Security Name: Common Stock Securities Offered: 39,832,334 Transaction Features: ESOP Related Offering

Rigetti Computing, Inc. Presents at 17th Annual Needham’s Virtual Technology & Media Conference, May-19-2022 11:45 AM

2022-05-18 12:10:00

Rigetti Computing, Inc. Presents at 17th Annual Needham’s Virtual Technology & Media Conference, May-19-2022 11:45 AM. Venue: Westin Grand Central Hotel, New York, United States. Speakers: Chad Rigetti, Founder, President, CEO, & Director.

Rigetti Computing, Inc. Provides Financial Guidance for Fiscal Year 2022

2022-05-16 20:05:00

Rigetti Computing, Inc. provided financial guidance for fiscal year 2022. The Company expected total revenue for fiscal year 2022 to be between $12.0 million and $13.0 million .

Rigetti Computing, Inc. to Report Q1, 2022 Results on May 16, 2022

2022-04-21 12:30:00

Rigetti Computing, Inc. announced that they will report Q1, 2022 results After-Market on May 16, 2022

Rigetti Computing, Inc., Q1 2022 Earnings Call, May 16, 2022

2022-04-21 12:30:00

Rigetti Computing, Inc., Q1 2022 Earnings Call, May 16, 2022

Rigetti Computing, Inc. Announces Departure of Taryn Naidu as Chief Operating Officer

2022-04-19 20:05:00

Rigetti Computing, Inc. announced that Taryn Naidu, who had served as Chief Operating Officer, is no longer with the Company. Mr. Naidu’s departure is not related to any matter regarding the Company's financial condition, reported financial results, internal controls or disclosure controls and procedures. The Company recently has made several key hires, deepening its expertise and leadership in finance, go-to-market, operations, security, and talent management, and does not have immediate plans to name a replacement Chief Operating Officer. Mr. Naidu’s responsibilities will be assumed by current leadership, including Brian Sereda, Chief Financial Officer; Greg Peters, Chief Revenue Officer; Jackie Kaweck, SVP Human Resources; and Lou DeSorbo, Chief Security Officer.

Needham & Company, LLC, 17th Annual Needham’s Virtual Technology & Media Conference, May 16, 2022 through May 19, 2022

2022-03-10 14:25:00

Needham & Company, LLC, 17th Annual Needham’s Virtual Technology & Media Conference, May 16, 2022 through May 19, 2022. Venue: Westin Grand Central Hotel, New York, United States.

Rigetti Computing Names Peter Pace Chairman of the Board of Directors

2022-02-03 14:00:00

Rigetti Holdings, Inc. (“Rigetti Computing”) announced that it has elected retired Marine General Peter Pace as Chairman of the Board. General Pace, who has served on Rigetti’s Board of Directors (the “Board of Directors”) since June 2017, brings vast leadership expertise gained through his decades-long military career and previous experience serving on the board of directors of several private and public companies.

Rigetti Computing to Deliver Technology for Phase 2 of DARPA ONISQ Program

2022-01-27 14:00:00

Rigetti Computing, announced it has been selected to deliver hardware, software and benchmarks for phase two of a DARPA program to develop quantum computers capable of solving complex optimization problems. In collaboration with the Universities Space Research Association (USRA), and through DARPA, under DARPA-NASA Interagency agreement (IAA) 8839 Annex 114, with the NASA Quantum Artificial Intelligence Laboratory (QuAIL), the company’s selection is based on its successful completion of performance milestones, underpinned by Rigetti’s continued development of its scalable chip technology and advanced programming tools. The work focuses on solving a class of complex scheduling problems, which have important implications for national security, such as real-time strategic asset deployment, as well as commercial applications including global supply chain management, network optimization, and vehicle routing. The goal of the collaboration is to deliver a full-stack solution with a proven quantum advantage over classical techniques. Leveraging Rigetti’s Fab-1, the industry’s first dedicated and integrated quantum device manufacturing facility, the program was supported by the ongoing development of key chip technologies underpinning the company’s innovative modular quantum processor architecture, which it announced last year. In addition, work under the program has led to the demonstration of advanced programming tools and compiler technology, including more expressive logic gates on Rigetti’s 32-qubit quantum processors. Among them is the industry’s first implementation of a programmable 3-qubit gate, which maps directly to classically hard sampling problems and may enable quantum computers to outperform classical computers on these tasks. In the second phase of the program, the team will continue to develop and test the scheduling application at increasing scale, including with Rigetti’s 80-qubit modular quantum processor that the company announced in December 2021. The NASA and USRA collaborators will perform application benchmarking against high-performance classical computers to determine whether the approach has a provable quantum advantage compared to known techniques. This work is part of the DARPA ONISQ program. The goal of the program is to establish that quantum information processing using NISQ devices has a quantitative advantage for solving real-world combinatorial optimization problems as compared with the best currently known classical methods.

Rigetti Computing Changes its Fiscal Year End from January 31 to December 31, Effective December 31, 2021

2021-12-20 21:09:00

Rigetti & Co, Inc. changed its fiscal year end from January 31 to December 31, effective December 31, 2021, and will first reflect the change in fiscal years for interim and annual filings for fiscal years beginning January 1, 2022.

Rigetti Computing Announces Next-Generation 40Q and 80Q Quantum Systems

2021-12-15 13:30:00

Rigetti Computing introduced its next-generation “Aspen-M” 80-qubit quantum computer into private beta. Aspen-M is the world’s first commercial multi-chip quantum processor, solving a critical scaling challenge in the race toward fault-tolerant quantum computing. The Aspen-M processor leverages Rigetti’s proprietary multi-chip technology and is assembled from two 40-qubit chips.  In addition, Rigetti announced it is collaborating with Deloitte, a multinational professional services company, and Strangeworks, a leading managed quantum service provider, to explore quantum applications in material simulation, optimization, and machine learning using Rigetti’s new scalable processors.  Separately, a new Aspen system based on a single-chip 40-qubit processor will be released now for general availability on Rigetti Quantum Cloud Services, the Strangeworks Ecosystem, and Amazon Braket. These latest Rigetti Aspen superconducting processors incorporate improvements in scale, speed, and fidelity—three metrics critical to unlocking broad commercial value. In addition to more than doubling the processor size over its previous generation, the systems powered by these processors deliver a 2.5x speedup in quantum processing times and reduce readout errors by up to 50%, drastically improving the reliability of quantum program results.

IPO Edge, Rigetti & Co, Inc., Supernova Partners Acquisition Company II, Ltd. - Special Call

2021-12-14 00:00:00

To discuss Full-stack quantum computing, Rigetti corporate and technical overview, Go-to-market strategy, Recent contract wins and Upcoming merger with Supernova Partners Acquisition Company II, Ltd

Rigetti Computing Partners with PlankQK to Provide QPU Access and Enable Quantum Research and Application Development

2021-12-09 13:00:00

Rigetti Computing announced its partnership with PlanQK (Platform and Ecosystem for Quantum-Assisted Artificial Intelligence). PlanQK members will have access to Rigetti’s latest quantum processors to develop and test a variety of industrial use cases for quantum computing. PlanQK consortium members D-Fine, Deutsche Bahn, QAR-Lab of Ludwig Maximilian University Munich (LMU), University of Stuttgart and StoneOne AG will collaborate with Rigetti to evaluate the optimal use of Rigetti hardware, with a focus on quantum machine learning and optimization applications. By joining hardware and use case expertise, and a large network of end users across industries, Rigetti and PlanQK plan for this partnership to strengthen the quantum computing ecosystem and accelerate application development.

Microsoft to Bring Rigetti Superconducting Quantum Computers to Azure Quantum

2021-12-06 13:59:00

Rigetti Computing announced a collaboration with Microsoft to provide Rigetti quantum computers over the cloud to users of Microsoft’s Azure Quantum service. When the Rigetti system becomes available, it will be the largest quantum computer accessible on Azure Quantum. The two companies expect the integration to be completed and available to users in the first quarter of 2022. Rigetti quantum computers use superconducting qubits, a technology approach shown to have faster execution times and greater scaling than other commercially available quantum computing technologies. These performance characteristics position Rigetti quantum computers to potentially help solve a broad range of valuable problems in areas like machine learning, drug discovery, clean energy, logistics optimization, and financial simulations. Azure Quantum developers will be able to program Rigetti computers using popular quantum software frameworks. This week at Q2B 2021 -- the quantum computing industry’s premier conference -- Rigetti is demonstrating a quantum chemistry algorithm using QIR, Microsoft’s quantum intermediate representation, running on a Rigetti quantum computer over the cloud. Rigetti and Microsoft are collaborating, as part of the QIR Alliance, toward a goal of enabling interoperability within the quantum ecosystem and reducing development efforts from all parties.

Rigetti Computing Receives Department of Energy Contract to Develop Quantum Simulation for Fusion Energy

2021-11-04 13:00:00

Rigetti Computing announced that it has been selected to lead a quantum simulation project for fusion energy awarded by the Department of Energy. Rigetti will collaborate with Lawrence Livermore National Laboratory and the University of Southern California on the three-year, $3.1 million project that will simulate plasma dynamics on Rigetti’s cloud-based quantum computers. Fusion energy research seeks to harness the same nuclear reactions that power the sun as an alternative source of clean, safe, and abundant energy. The funding is part of an initiative sponsored by the Office of Fusion Energy Sciences to further the scientific understanding of plasma physics, the science underpinning fusion energy. Advancing the predictive capabilities needed to develop a sustainable energy source from fusion plasmas could ultimately create important economic, environmental, and national security benefits. Under the program, the team will apply quantum information science and quantum computing techniques to plasma simulation. The project also aims to characterize quantum computing’s ability to exceed classical processing for this type of application. The joint research will develop and apply quantum computing in ways expected to advance the fields of fusion energy and quantum information science. One outcome of this project will be the first exploration of carefully engineered multi-qubit gates and interactions for simulating plasma dynamics on a quantum computer. The project will also develop and apply control pulse engineering and dynamic error suppression techniques that are expected to enable long duration simulations with high effective gate depth. The initiative will leverage and extend QUIL and associated programming libraries, such as Quil-T. QUIL is an open-source quantum instruction language for hybrid quantum-classical computing originally developed by Rigetti. Quil-T is its time-domain pulse programming extension. These advanced quantum programming tools will be made available to users through the company’s Quantum Cloud Services platform and are expected to benefit other quantum computing application areas in addition to fusion energy science.

Rigetti & Co, Inc., Supernova Partners Acquisition Company II, Ltd. - M&A Call

2021-10-06 12:00:00

To discuss the proposed business combination

Rigetti & Co, Inc. announced that it expects to receive $102.51 million in funding from a group of investors

2021-10-06 00:00:00

Rigetti & Co, Inc. announced that it has entered into subscription agreement to issue 10,251,000 common shares at a price of $10 per share for a total gross proceeds of $102,510,000 on October 6, 2021. The transaction will include participation from funds and accounts advised by T. Rowe Price Group, Inc., In-Q-Tel, Inc., returning investors Deer Management Company, LLC, Franklin Resources, Inc., and some new strategic partners including Keysight Technologies, Inc., Palantir Technologies Inc. and Ampere Computing LLC. The company has raised approximately $200,000,000 in funding till date. The transaction is subject to consummated concurrently with the closing of the merger. The company will issue common shares under the Securities Act of 1933, in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act and Regulation D.

Rigetti & Co, Inc. executed a term sheet to acquire Supernova Partners Acquisition Company II, Ltd. (NYSE:SNII) from a group of shareholders in a reverse merger transaction for $1 billion.

2021-10-06 00:00:00

Rigetti & Co, Inc. executed a term sheet to acquire Supernova Partners Acquisition Company II, Ltd. (NYSE:SNII) from a group of shareholders in a reverse merger transaction on May 14, 2021. Rigetti & Co, Inc. entered into a definitive merger agreement to acquire Supernova Partners Acquisition Company II, Ltd. from a group of shareholders for $1 billion in a reverse merger transaction on October 6, 2021. Under the merger agreement, each share of Rigetti outstanding as of immediately prior to the effective time will be exchanged for shares of New Rigetti Common Stock based on an implied Rigetti equity value of $1.04 billion, and each Rigetti option or warrant will convert into options or warrants to purchase New Rigetti Common Stock and each Rigetti Restricted Stock Unit Award will convert into restricted stock units for New Rigetti Common Stock. The transaction values Rigetti at a pro forma equity value of approximately $1.5 billion. Concurrently with the execution of the agreement, Supernova entered into subscription agreements with certain investors, pursuant to which the PIPE investors have agreed to subscribe for and purchase, and Supernova has agreed to issue and sell to the PIPE Investors, an aggregate of 10.25 million shares of New Rigetti Common Stock at a price of $10.00 per share, for aggregate gross proceeds of $102.5 million. Under the transaction, existing Rigetti & Co shareholders and management will roll 100% of their equity. Upon completion of the business combination, existing shareholders of Rigetti will own approximately 61% on an undiluted basis; Supernova’s public shareholders (other than the PIPE Investors) will retain an ownership interest of approximately 27% on an undiluted basis; the PIPE Investors will own approximately 8% on an undiluted basis; and Supernova Partners II LLC will own approximately 5% of the combined entity, in each case, assuming that none of Supernova’s outstanding public shares are redeemed. The combined company is expected to receive approximately $458 million in gross cash proceeds, which includes a fully committed PIPE in excess of $100 million, direct investment, and $345 million of cash held in the trust account of Supernova II, assuming no redemptions. Upon closing of the transaction, Rigetti will become a public company and the publicly traded company will be named Rigetti Computing, Inc. and its common stock is expected to be listed on the NYSE under the ticker “RGTI”. As of February 18, 2022, Supernova announced that it intends to withdraw its listing from the New York Stock Exchange (the “NYSE”) and lists on The Nasdaq Stock Market LLC, following the completion of the transaction. Michael Clifton will join the Rigetti Board of Directors after the transaction closes. It is expected that General Pace will be appointed the chairman of the board of directors of Rigetti Computing, Inc. Directors and executive officers of New Rigetti upon the consummation of the transaction will include the following: Chad Rigetti (President, Chief Executive Officer and Director), Taryn Naidu (Chief Operating Officer), Brian Sereda (Chief Financial Officer), Rick Danis (General Counsel and Corporate Secretary), Mike Harburn (Chief Technology Officer), Mandy Birch (Senior Vice President, Technology Partnerships), David Rivas (Senior Vice President, Systems and Service), and, Non-Employee Directors will be: Alissa Fitzgerald, Gen. Peter Pace, Ray Johnson, David Cowan, Cathy McCarthy, Michael Clifton and H. Gail Sandford. As of December 27, 2021, Rigetti Computing announced $45 million in additional commitments for a private placement of Supernova II common stock in connection with their proposed business combination. The transaction is subject to customary closing conditions, including, among others: (i) approval by Supernova’s and Rigetti’s respective stockholders, (ii) the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the obtaining of any consents required under antitrust laws in the jurisdictions specified on a schedule, (iii) Supernova having at least $5,000,001 of net tangible assets as of the Closing, (iv) receipt of approval for listing on the New York Stock Exchange of the shares of Supernova common stock to be issued in connection with the transactions, (v) completion of the Domestication, (vi) the effectiveness of the registration statement on Form S-4, and (vii) Supernova having at least $165,000,000 of available cash at the closing. The transaction has been unanimously approved by the boards of directors of both Rigetti and Supernova II. Supernova Board unanimously recommends that shareholders vote for the adoption of the merger agreement. The special meeting of stockholders of Supernova to approve the business combination will be held on February 28, 2022. As of February 28, 2022, the transaction was approved by the shareholders of Supernova. The business combination will be consummated in the first quarter of 2022. As of February 18, 2022, the transaction is expected to close on or around March 2, 2022. Deutsche Bank Securities Inc. is serving as exclusive financial advisor to Rigetti. Adam Dinow, David Silverman and Rupa Briggs of Cooley LLP are serving as legal counsel to Rigetti. Morgan Stanley & Co. LLC is serving as exclusive financial advisor to Supernova II. Nicholas P. Luongo, Ryan J. Maierson, Patrick H. Shannon, Pardis Zomorodi, Adam Kestenbaum, Jeremy Wolsk, Joshua Holian, Eric Volkman and Dean Baxtresser of Latham & Watkins LLP are serving as legal counsel to Supernova II. Morgan Stanley & Co. LLC and Deutsche Bank Securities Inc. served as placement agents to Supernova II for the PIPE financing. Sidley Austin LLP served as counsel to the placement agents. American Stock Transfer & Trust Company acted as transfer agent to Supernova. Morrow Sodali LLC acted as proxy solicitor to Supernova for a fee of $37,500, plus disbursements.

Rigetti Computing Appoints Brian Sereda as Chief Financial Officer

2021-08-16 13:00:00

Rigetti Computing announced that it has appointed Brian Sereda as Chief Financial Officer. Sereda joins the company with over 25 years of senior level finance experience, including approximately 15 years of prior CFO experience across different technology companies. He most recently served as Chief Financial Officer at Energous Corporation where he raised a significant amount of working capital and oversaw finance, legal, investor relations, human resources, and IT. With a strong operational and capital markets background, he brings a proven track record of helping set up companies for success by enabling growth, maturing processes, and creating value. The company has also added Jackie Kaweck as Senior Vice President, Human Resources. Kaweck brings more than 20 years of experience in human resources and executive leadership to the role, most recently as SVP, People at Vivid Seats where she operationalized the human resources function and built a strong talent acquisition process and job architecture framework.

Rigetti Computing Adds Jackie Kaweck as Senior Vice President, Human Resources

2021-08-16 13:00:00

Rigetti Computing added Jackie Kaweck as Senior Vice President, Human Resources. Kaweck brings more than 20 years of experience in human resources and executive leadership to the role, most recently as SVP, People at Vivid Seats where she operationalized the human resources function and built a strong talent acquisition process and job architecture framework.

Rigetti Computing Introduces Scalable Multi-Chip Quantum Processor

2021-06-29 16:00:00

Rigetti Computing announced that, it is launching the multi-chip quantum processor. The processor incorporates a proprietary modular architecture that accelerates the path to commercialization and solves key scaling challenges toward fault-tolerant quantum computers. Rigetti expects to make an 80-qubit system powered by the breakthrough multi-chip technology available on its Quantum Cloud Services platform later this year. Scaling quantum computers comes with inherent challenges. As chips increase in size, there is a higher likelihood of failure and lower manufacturing yield, making it increasingly difficult to produce high-quality devices. Rigetti has eliminated these roadblocks by developing the technology to connect multiple identical dies into a large-scale quantum processor. This modular approach exponentially reduces manufacturing complexity and allows for accelerated, predictable scaling. The company’s multi-chip approach enables future systems to scale in multiplicative ways. Next-generation architectures currently in development at Rigetti include individual chips with more qubits, as well as advanced technologies to help connect more of these chips into larger processors. Rigetti manufactures all of its chips at its California-based captive quantum foundry.