Rigetti Lands Up to $100M CHIPS Act Funding for Quantum R&D
RGTI sits 89% above its 52-week low of $10.3.
Summary
Rigetti Computing signed a Letter of Intent with the U.S. Department of Commerce for up to $100 million in funding over three years, allocated under the CHIPS Act for quantum computing R&D. This significant capital infusion will accelerate research into scaling superconducting quantum computers and follows the company's Q1 2026 report of widened operating losses. The funding, which includes a contemplated equity stake for the Department, provides crucial runway and strong government validation for Rigetti's technology. Investors should watch for the finalization of definitive transaction agreements.
At the time of this announcement, RGTI was trading at $19.42 on NASDAQ in the Technology sector, with a market capitalization of approximately $5.6B. The 52-week trading range was $10.30 to $58.15. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.