8-K: Rigetti Computing Achieves Key Quantum Computing Milestone with 99.5% Two-Qubit Gate Fidelity

Rigetti Computing, Inc. announced it achieved its mid-year performance milestone of 99.5% median two-qubit gate fidelity on its modular 36-qubit system, significantly reducing the gate error rate.

Summary

• Rigetti Computing, Inc. achieved its mid-year performance milestone on July 16, 2025.
• The milestone involves reaching 99.5% median two-qubit gate fidelity on its modular 36-qubit system.
• This 36-qubit system is composed of four 9-qubit chips tiled together.
• The achievement represents a 2x reduction in median two-qubit gate error rate compared to the company's previous best results on its 84-qubit single chip Ankaa-3 system.
• The company implemented CZ gates, which are commonly used two-qubit gates for executing quantum circuits and have equivalent computational power to iSWAP gates.

Sentiment

Score: 9

Explanation: The company achieved a significant technical milestone in quantum computing, demonstrating a substantial improvement in gate fidelity and error rate reduction, which is crucial for the advancement of the technology and its commercial viability.

Positives

• Achieved the mid-year performance milestone of 99.5% median two-qubit gate fidelity.
• Demonstrated a 2x reduction in median two-qubit gate error rate.
• Progress made on a modular 36-qubit system, indicating potential for scalability in quantum computing.

Future Outlook

The achievement of a "mid-year performance milestone" suggests ongoing progress and future developments in quantum computing technology, indicating the company's continued focus on advancing its core capabilities.

Management Comments

• Rigetti Computing, Inc. duly caused this report to be signed on its behalf by Jeffrey Bertelsen, Chief Financial Officer.

Industry Context

This achievement is a significant step forward in the nascent but rapidly evolving quantum computing industry. Reducing two-qubit gate error rates is a critical challenge for building fault-tolerant quantum computers, and Rigetti's progress positions it favorably among competitors striving for similar breakthroughs in quantum hardware development.

Comparison to Industry Standards

• The document primarily compares the current achievement to Rigetti's own previous best results on its 84-qubit single chip Ankaa-3 system, showing a 2x reduction in median two-qubit gate error rate. No specific comparable companies, projects, or external industry benchmarks are mentioned within the document for direct comparison.

Stakeholder Impact

• Shareholders: Positive impact due to the achievement of a key technical milestone, potentially increasing investor confidence and future valuation in a high-growth, high-risk sector.
• Customers/Partners: Potential for more reliable and powerful quantum computing services in the future as the technology matures.

Key Dates

Recommendation

Keywords

Quantum Computing, Rigetti Computing, Qubits, Gate Fidelity, Quantum Error Rate, Ankaa-3, CZ Gates, Modular Quantum System, Quantum Technology