Rigetti Computing Finalizes Definitive $100 Million CHIPS Act Award with U.S. Department of Commerce

Rigetti Computing has finalized a $100 million CHIPS Act award from the U.S. Department of Commerce to address scaling limitations in superconducting quantum processors. The funding will support three engineering projects: developing compact readout electronics, designing a high-capacity cryostat, and enhancing fabrication capabilities at Rigetti’s Fab-1 facility for multi-chiplet quantum processing units. In exchange for the award, the Department of Commerce will receive a minority equity stake in Rigetti.

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