To speed up the development and commercialization of superconducting quantum computing, Rigetti Computing, Inc., a leader in full-stack quantum-classical computing, today announced that it has signed a strategic collaboration agreement with Quanta Computer Inc. (“Quanta,” TWSE: 2382.TW), a Taiwan-based Fortune 500 company and the world leader in computer server manufacturing.
To develop superconducting quantum computing technology, the businesses have agreed to invest over $100 million over the next five years, concentrating on their respective areas of strength. Subject to regulatory approval, Quanta will also purchase shares of Rigetti and invest $35 million.
With growing commercial interest, the quantum computing business is predicted to develop rapidly over the next five years, reaching $1–2 billion annually by 20301. Among the quantum computing modalities, fast gate speeds and known semiconductor industry production procedures are only two of the numerous benefits of superconducting qubits over ion traps and neutral atoms.
“Quanta’s investment in Rigetti will strengthen our position in this thriving sector. “We will be at the forefront of the quantum computing industry thanks to the complementary strengths of our companies: Quanta is the world’s leading notebook/server manufacturer with $43 billion in annual sales, and Rigetti is a pioneer in superconducting quantum technology with an open, modular architecture that makes it easy to incorporate innovative solutions across different parts of the stack,” says Dr. Subodh Kulkarni, CEO of Rigetti.
About Rigetti:
Rigetti is a full-stack quantum computing pioneer. Since 2017, the company has run quantum computers on the cloud. Its Rigetti Quantum Cloud Services platform provides services to government, business, and research clients. To serve national laboratories and quantum computing centers, Rigetti started offering on-premises quantum computing systems in 2021 with qubit counts ranging from 24 to 84. In 2023, Rigetti unveiled the 9-qubit Novera QPU, a high-performance on-premises QPU that can be integrated into a customer’s current cryogenic and control systems to serve a larger R&D community.
The company’s in-house quantum-classical infrastructure offers high-performance integration with public and private clouds for real quantum computing. Rigetti has created the industry’s first multi-chip quantum processor for scalable quantum computing systems. At Fab-1, the industry’s first specialized and integrated quantum device production facility, the company designs and produces its chips.
About Quanta Computer:
One of the top manufacturers of notebooks globally and a top supplier of cloud computing solutions is Quanta Computer Inc., a Fortune Global 500 company. Quanta offers cutting-edge products with cutting-edge technology in various fields, including consumer electronics, cloud computing, information and communications, smart home and automotive solutions, innovative healthcare, and artificial intelligence (AIoT).
Quanta Computer was founded in 1988 and has been listed on the TWSE since 1999. Its headquarters are in Taiwan, with production and service facilities spread across Asia, the Americas, Europe, and other regions. Quanta Computer employed over 60,000 people globally, generating US$43 billion in combined revenues in FY2024. Please visit Quanta Computer’s website at www.quantatw.com for further details.
Forward-Looking Statements:
According to federal securities laws, some of the statements in this communication may be deemed “forward-looking.” These include statements about the Company’s performance and future success, including expectations about when the development and commercialization of superconducting quantum computing will occur, the expectation that Rigetti and Quanta will each invest over $100 million over the next five years, expectations about Quanta’s expected $35 million investment in the Company through the purchase of the Company’s common stock, and expectations regarding regulatory clearance.
The expected market size of the quantum computing industry over the next several years; the potential for superconducting qubits to outperform ion trap and neutral atoms; and the benefits and effects of the strategic collaboration agreement with Quanta Computer on our operations, technology roadmap, milestones, and industry position.
Although deemed reasonable by the Company and its management, the estimates and assumptions upon which these forward-looking statements are based are inherently unpredictable. The potential of computing; the success of the company’s partnerships and collaborations, including the strategic alliance with Quanta Computer; the ability of the company to accelerate the development of multiple generations of quantum processors; technological advancements, including its technology roadmap; the ability of the company to obtain government contracts successfully and promptly; the availability of government funding; and the company’s capacity to meet milestones are a few of the elements that might lead to outcomes that are significantly different from what was anticipated.
The company’s estimate of expenses and profitability; the evolution of the markets in which it competes; the ability of the company to implement its initiatives and expansion plans; the expected use of proceeds from the company’s past and future financings; the sufficiency of the company’s cash resources; the potential for the company to be negatively impacted by different economic, business, or competitive factors; the costs associated with operating as a public company; changes in applicable laws; the ability to maintain relationships with customers.
The global economy, including political unrest, natural disasters, terrorism, rising interest rates and inflation, declining international trade relations, and other risks and uncertainties listed in the sections titled “Risk Elements” and “Cautionary Note Forward-Looking Statements” in the Company’s Report on Form 10-K for the year ended December 2023, and Report on Form 10-Q for the quarter ended Sep 2024, as well as other documents the Company occasionally files with the SEC. These filings identify and address other risks and uncertainties that might result in substantially different actual events and outcomes from those in the forward-looking statements.
The Company disclaims all liability and has no intention of updating or revising any forward-looking statements unless required by applicable law. It is recommended that readers not rely too much on these claims. There is no guarantee from the company that it will meet its goals.
