Overview

• Rigetti unveiled the Cepheus-1-36Q, a 36‑qubit multi‑chip machine the company says is the industry’s largest, with a calculation error rate roughly half that of its predecessor.
• The company and Montana State University launched QCORE in Bozeman with an on‑premises 9‑qubit Novera processor to support joint R&D, hybrid systems work, and workforce development.
• Benzinga reported a $5.8 million Department of the Air Force contract for hybrid superconducting‑optical quantum network nodes tied to Rigetti’s technology.
• Shares rose more than 1,500% over the past year and climbed again this week as traders priced in potential Fed rate cuts; Cantor Fitzgerald on Aug. 13 lifted its price target to $18 with an Overweight rating.
• Second‑quarter results showed $1.8 million in revenue and a $19.9 million operating loss, with the company ending the period holding over $570 million in cash and investments and no debt.