Rigetti Computing (RGTI) Soars 30% on New Milestone Achievement

We recently published 10 Stocks Exploding Higher: Bitcoin Miners Dominate the List. Rigetti Computing, Inc. (NASDAQ:RGTI) is one of Wednesday's top performers.

Rigetti Computing surged by 30.19 percent on Wednesday to end at $16.56 apiece as investors cheered the achievement of a new milestone that cut its error rate by half as compared with its previous record.

In a statement, Rigetti Computing, Inc. (NASDAQ:RGTI) said that its modular 36-qubit system achieved its mid-year performance milestone of 99.5 percent median two-qubit gate fidelity, a 2x reduction in median two-qubit gate error rate from its previous best results on its 84-qubit single-chip Ankaa-3 system.

Composed of four 9-qubit chips tiled together, the 36-qubit system is based on Rigetti Computing, Inc.’s (NASDAQ:RGTI) proprietary modular chip technology and unlocks the company’s path to building a 100+ qubit chiplet-based system.

Rigetti plans to launch its 36-qubit system on August 15, and remains on track to release its 100+ qubit chiplet-based system at 99.5 percent median two-qubit gate fidelity before the end of the year.

“We benefit from the many advantages of superconducting qubits, including gate speeds more than 1,000x faster than other modalities like ion trap and pure atoms, and scalability. By leveraging well-known techniques from the semiconductor industry, we’ve developed proprietary technology that we believe is critical to enable scaling to higher qubit count systems,” said Rigetti Computing, Inc. (NASDAQ:RGTI) CEO Subodh Kulkarni.

“We look forward to sharing more updates when we release our operating results for the second quarter of 2025.”

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Disclosure: None. This article is originally published at Insider Monkey.