U.S. Backs Rigetti With $100 Million to Tackle Quantum Scaling

Overview

• A deal announced Tuesday between Rigetti Computing and the Department of Commerce commits $100 million under the CHIPS Act to fund three targeted engineering projects in superconducting quantum systems.
• The program will focus on miniaturizing readout electronics, building a new cryostat architecture to expand cryogenic capacity, and developing fabrication processes for high‑connectivity chip layouts.
• The Department of Commerce will take a minority, non‑controlling equity stake and Rigetti’s wholly owned subsidiary, Rigetti & Co, LLC, will carry out the work under the award terms.
• Rigetti shares jumped about 6% on the announcement and sell‑side analysts kept bullish ratings with an average price target near $32.60, though market indicators show the stock still faces technical headwinds.
• The funding is one of the larger federal commitments to a pure‑play quantum firm and could speed development, but engineers and investors should expect multiyear technical risk on scaling superconducting multi‑chip systems and possible stock volatility from ETF flows.