News Release

BERKELEY, Calif., Oct. 07, 2024 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (“Rigetti” or the “Company”) (Nasdaq: RGTI), a pioneer in hybrid quantum-classical computing, announced today that Rigetti CEO, Dr. Subodh Kulkarni, will be a speaker at the second annual Stanford Conference on Technology + National Security. The conference is hosted by Stanford DEFCON, a student network under the purview of the Gordian Knot Center for National Security Innovation at Stanford University, and will be held October 8-9 at the Hoover Institution.

Dr. Kulkarni will be speaking on the “R&D Ecosystem: Scaling Critical Technologies” panel at 11:15 AM on October 9 where he will discuss the role of quantum computing in national security, and how academia and the private sector can help to support the government to develop and deploy such critical technologies.

“It’s an honor to be included in this premier conference to discuss how quantum computing can help tackle national security challenges,” said Dr. Subodh Kulkarni, Rigetti CEO. “At Rigetti, we strongly believe that quantum computing will have a profound impact on many areas in society, especially national security. Superconducting promises to be the leading modality for building the large-scale, high-performance quantum computing systems necessary for tackling the complex problems that are currently untenable with even the most powerful classical computers. Our next-generation Ankaa™-class systems are performing in the 99 - 99.5% range for 2-qubit fidelity. Our gate speeds have an active duration of 60-80ns, making our systems twice as fast as other superconducting quantum computing players, and 3-4 orders of magnitude faster than trapped ion and pure atom quantum computing systems.”

Rigetti remains on track to deploy its anticipated 84-qubit Ankaa-3 system with the goal of achieving a 99+% median 2-qubit gate fidelity by the end of 2024. Rigetti’s 9-qubit Novera™ QPU, based on the Company’s Ankaa-class architecture, is available today for on-premises quantum computing systems.

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 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. Learn more at www.rigetti.com.

Rigetti Computing Media Contact:
press@rigetti.com

Cautionary Language Concerning Forward-Looking Statements
Certain statements in this communication may be considered “forward-looking statements” within the meaning of the federal securities laws, including, but not limited to, expectations related to the superconducting quantum computing modality, the Company’s next generation Ankaa-class systems 2-qubit gate fidelity performance and gate speeds. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by the Company and its management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: the Company’s ability to achieve milestones, technological advancements, including with respect to its technology roadmap, help unlock quantum computing, and develop practical applications; the ability of the Company to obtain government contracts successfully and in a timely manner and the availability of government funding; the potential of quantum computing; the ability of the Company to expand its QPU sales; the success of the Company’s partnerships and collaborations; the Company’s ability to accelerate its development of multiple generations of quantum processors; the outcome of any legal proceedings that may be instituted against the Company or others; the ability to 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 the Company may be adversely affected by other economic, business, or competitive factors; the Company’s estimates of expenses and profitability; the evolution of the markets in which the Company competes; the ability of the Company to implement its strategic initiatives, expansion plans and continue to innovate its existing services; the expected use of proceeds from the Company’s past and future financings or other capital; the sufficiency of the Company’s cash resources; unfavorable conditions in the Company’s industry, the global economy or global supply chain, including financial and credit market fluctuations and uncertainty, rising inflation and interest rates, disruptions in banking systems, increased costs, international trade relations, political turmoil, natural catastrophes, warfare (such as the ongoing military conflict between Russia and Ukraine and related sanctions and the state of war between Israel and Hamas and related threat of a larger conflict), and terrorist attacks; and other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, the Company’s Form 10-Q for the three months ended September 30, 2024, and other documents filed by the Company 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 the Company assumes no obligation and does not intend to update or revise these forward-looking statements other than as required by applicable law. The Company does not give any assurance that it will achieve its expectations.