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Rigetti Computing’s $100 Million Quantum Push — Can Government Support Accelerate Scale?

Rigetti Computing reported second quarter 2026 financial results highlighting both technical advancements and ongoing challenges within the quantum computing industry. The company reiterated progress on its Cepheus-class 108-qubit system, which remains one of the highest qubit count, gate-based quantum computers globally, distinguished by its modular chiplet-based architecture. Rigetti reported median single-qubit gate fidelity around 99.9% and two-qubit fidelity near 99.1% with gate speeds approximately 60 nanoseconds. Current technological efforts focus on improving coherence times, identified as the primary constraint on fidelity, with initiatives in chip design, materials, and fabrication processes, including collaborations with Fermilab to enhance superconducting contacts. The company expects to increase these coherence times two to threefold in the coming years. On the commercial and strategic front, Rigetti has expanded collaborations with government agencies and industry partners. A non-binding letter of intent with the U.S.