News Release

The new applications are expected to be available on the Strangeworks platform in early 2023 on a pay-as-you-go service

AUSTIN, Texas and BERKELEY, Calif., Dec. 06, 2022 (GLOBE NEWSWIRE) -- Strangeworks, Inc. (“Strangeworks”) and Rigetti Computing, Inc. (“Rigetti”) (Nasdaq: RGTI) today announced Strangeworks’ commitment to make available on its platform two new quantum machine learning (QML) applications from Rigetti. These new QML applications are Rigetti’s quantum kernel and quantum convolutional “quanvolutional” neural network methods, which are optimized specifically for Rigetti quantum computers and are designed to advance the development of applications related to classification and regression problems. These QML applications are expected to initially be available exclusively on the Strangeworks platform in early 2023.

The applications are planned to be made available through Rigetti’s on-demand, pay-as-you-go access model via Strangeworks. This on-demand access to Rigetti systems has been enabled by tightly integrating Rigetti’s quantum processing units with the Strangeworks platform. The integration has also resulted in higher performance of Rigetti systems on Strangeworks by enabling lower overall program latency and native Quil programming language support.

“Rigetti is excited to continue its close partnership with Strangeworks and make its first reference applications available to users through their platform,” said Eric Ostby, VP of Product. “We believe that quantum machine learning applications continue to be promising candidates for quantum advantage research.”

“These new applications will accelerate businesses' ability to create valuable quantum applications by enabling them to bring Rigetti quantum capabilities to their classification, modeling, and detection problems,” said whurley, Founder and CEO of Strangeworks. “Today’s announcement deepens the partnership between Rigetti and Strangeworks, and advances Strangeworks’ goal to make access to quantum applications simple, flexible and performance-driven.”

More about applications and the Strangeworks platform:

• Strangeworks Managed Applications
  These applications are anticipated to be available on the Strangeworks platform, which features a rapidly growing catalog of turn-key services that are designed to make applying quantum computing technologies easier to integrate into workflows and apply to problems.

• Rigetti Quanvolutional Neural Network Method
  Rigetti’s Quanvolutional Neural Network method is designed to enhance image and video analysis by adding quantum-enhanced features to an existing data set for use by classical neural networks. This method is potentially well-suited for simplifying follow-on machine learning processing, since it may require less data and fewer parameters to train the classical model.

• Rigetti Quantum Kernel Method
  Rigetti’s Quantum Kernel Method is designed to assess similarities between points in a data set, which may be valuable for usage in a classification or regression model. By assessing similarities in the exponentially larger space afforded by the quantum processing unit, the output of this method could potentially be used in anomaly detection.

These applications are planned to be available on the Strangeworks platform in early 2023. The quantum kernel method is planned to be available to all users on the Strangeworks platform, while the quanvolutional neural network method is planned to be available only to select customers and partners.

Rigetti has also announced its intent to join the Strangeworks Backstage Pass program, with plans to offer up to $10,000 of sponsored credits to each approved user. Rigetti plans to prioritize users with an interest in quantum machine learning for enterprise applications, including but not limited to those interested in leveraging Rigetti’s quanvolutional neural network method. To apply for access to Rigetti through the Backstage Pass program, please visit https://strangeworks.com/backstage.

About Strangeworks
Headquartered in Austin, Texas, Strangeworks is a group of experienced serial entrepreneurs, enterprise software developers, and quantum physicists who seek to humanize quantum computing and make it accessible to everyone. By guiding companies through the confusion of quantum computing, Strangeworks helps accelerate the integration of this new technology in corporations, universities, and enterprises. To learn more about how Strangeworks can accelerate your quantum journey visit https://strangeworks.com

Contact: inquiries@strangeworks.com

About Rigetti
Rigetti is a pioneer in full-stack quantum computing. The Company has operated quantum computers over the cloud since 2017 and serves global enterprise, government, and research clients through its Rigetti Quantum Cloud Services platform. The Company’s proprietary quantum-classical infrastructure provides high performance integration with public and private clouds for high-performance practical quantum computing. Rigetti has developed the industry’s first multi-chip quantum processor for scalable quantum computing systems. The Company designs and manufactures its chips in-house at Fab-1, the industry’s first dedicated and integrated quantum device manufacturing facility. Rigetti has more than 150 patents awarded and pending. The Company was founded in 2013 by Chad Rigetti and today employs more than 190 people with offices in the United States, U.K. and Australia.

Contact: press@rigetti.com

Cautionary Language Concerning Forward-Looking Statements
Certain statements in this communication may be considered forward-looking statements, including statements with respect to expectations with respect to the availability of Rigetti’s QML applications on the Strangeworks platform, including the timing thereof; expectations with respect to Rigetti’s QML applications, quanvolutional neural network method and quantum kernel method, including potential uses, advancements, benefits, ability to solve problems, ability to simplify follow-on machine learning processing, and ability to advance the development of applications related to classification and regression problems; the potential for quantum machine learning applications continue to be promising candidates for quantum advantage research; the potential for Rigetti’s QML applications to accelerate businesses' ability to create valuable quantum applications; Strangeworks’ goal to make access to quantum applications simple, flexible, and performance-driven; expectations with respect to the partnership between Rigetti and Strangeworks; Rigetti’s intention to join the Strangeworks Backstage Pass program, with plans to offer up to sponsored credits to selected users. Forward-looking statements generally relate to future events and can be identified by terminology such as “commit,” “may,” “should,” “could,” “might,” “plan,” “possible,” “intend,” “strive,” “expect,” “intend,” “will,” “estimate,” “believe,” “predict,” “potential,” “pursue,” “aim,” “goal,” “outlook,” “anticipate,” “assume,” or “continue,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Rigetti and its management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: Rigetti’s ability to achieve milestones, technological advancements, including with respect to its roadmap, help unlock quantum computing, and develop practical applications; the ability of Rigetti to complete ongoing negotiations with government contractors successfully and in a timely manner; the potential of quantum computing; the ability of Rigetti to obtain government contracts and the availability of government funding; the ability of Rigetti to expand its QCaaS business; the success of Rigetti’s partnerships and collaborations; Rigetti’s ability to accelerate its development of multiple generations of quantum processors; the outcome of any legal proceedings that may be instituted against Rigetti or others; the ability to meet stock exchange listing standards; the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of Rigetti to grow and manage growth profitably, maintain relationships with customers and suppliers and attract and retain management and key employees; costs related to operating as a public company; changes in applicable laws or regulations; the possibility that Rigetti may be adversely affected by other economic, business, or competitive factors; Rigetti’s estimates of expenses and profitability; the evolution of the markets in which Rigetti competes; the ability of Rigetti to execute on its technology roadmap; the ability of Rigetti to implement its strategic initiatives, expansion plans and continue to innovate its existing services; the impact of the COVID-19 pandemic on Rigetti’s business; the expected use of proceeds from Rigetti’s past and future financings or other capital; the sufficiency of Rigetti’s cash resources; unfavorable conditions in Rigetti’s industry, the global economy or global supply chain, including financial and credit market fluctuations and uncertainty, rising inflation and interest rates, increased costs, international trade relations, political turmoil, natural catastrophes, warfare (such as the ongoing military conflict between Russia and Ukraine and related sanctions against Russia), and terrorist attacks; and other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Rigetti’s Form 10-Q for the three months ended September 30, 2022, and other documents filed by Rigetti from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Rigetti assumes no obligation and does not intend to update or revise these forward-looking statements other than as required by applicable law. Rigetti does not give any assurance that it will achieve its expectations.