24/7 Market News Snapshot 23 December, 2024 – Rigetti Computing, Inc. Common Stock (NASDAQ:RGTI)
DENVER, Colo., 23 December, 2024 (247marketnews.com) – (NASDAQ:RGTI) are discussed in this article.
Rigetti Computing, Inc. has made significant strides in the quantum computing landscape, recently launching its groundbreaking 84-qubit Ankaa-3 system. This latest offering represents a remarkable achievement in quantum technology, featuring a comprehensive hardware redesign that significantly enhances performance and reliability. Notably, the Ankaa-3 has achieved two-qubit gate fidelity improvements, reducing error rates to a median of 99.0% for iSWAP gates and 99.5% for fSim gates. These advancements will empower researchers to harness the capabilities of the Rigetti Quantum Cloud Services platform (QCS®) for more sophisticated algorithmic applications.
The innovative features of the Ankaa-3 include a cutting-edge cryogenic hardware design aimed at improving operational efficiency and significantly lowering costs. Furthermore, the redesigned qubit chip utilizes a novel fabrication process known as Alternating-Bias Assisted Annealing (ABAA), offering enhanced control over qubit frequencies and optimizing gate execution. The changes have resulted in a median gate time of just 72 nanoseconds, which is instrumental in facilitating rapid and accurate quantum computing tasks.
Rigetti’s commitment to pushing the boundaries of quantum technology is evident as the company prepares for the launch of a modular system architecture projected for 2025. This will feature a 36-qubit system with a goal of halving current error rates and culminate in a 100-qubit system anticipated by the end of 2025. The leadership at Rigetti emphasizes a vision focused on expanding quantum computing capabilities to address complex challenges.
In tandem with this significant product launch, Rigetti has seen a surge in investor interest. The company’s stock, RGTI, surged nearly 29.55% in pre-market trading, now standing at approximately $12.139. This uptick is indicative of the strong confidence potential investors place in Rigetti’s innovative technology and market position, suggesting that the future looks bright for the company as it continues to establish itself as a leader in the field.