Rigetti Computing (RGTI) has secured a definitive $100 million award from the U.S. Department of Commerce under the CHIPS Act to enhance superconducting quantum computing R&D. This funding will address critical engineering challenges, aiding the development of utility-scale quantum computers. The Department will receive a minority, non-controlling equity stake in Rigetti as part of the agreement.
The initiatives supported by this funding focus on miniaturizing readout electronics, expanding cryogenic capacity with advanced cryostat architecture, and improving chip fabrication capabilities. These efforts aim to reduce system costs and shorten development timelines in quantum technology.
Additionally, D-Wave Quantum (QBTS) has executed a definitive agreement with the Department of Commerce for up to $100 million under the CHIPS Act, reinforcing its dual-platform quantum computing strategy. Meanwhile, IonQ (IONQ) signed an $8.18 million deal with Congruity360 for quantum-safe networking, further solidifying its position in the cybersecurity market.
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