Apr 24, 2024 (MENAFN via COMTEX) --
(MENAFN - Baystreet) Rigetti Ekes up on Novera QPU Sale
GE Aerospace Beats On Q1 Profit And Raises Guidance
Spotify's Stock Rises Nearly 10% On Earnings Beat
Cadence Design Systems' Stock Falls 6% On Weak Guidance
Box Office: Civil War Claims Victory for the Second Straight Week Previous Articles Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Tuesday, April 23, 2024
Rigetti Ekes up on Novera QPU Sale Rigetti Computing, Inc. (NASDAQ: RGTI) shares up slightly soon after Tuesday's open, as the Berkeley, Calif.-based company, a pioneer in full-stack quantum-classical computing, announces the sale of a NoveraTM quantum processing unit (QPU) to Horizon Quantum Computing. This marks the Company's third sale of a Novera QPU, and is the Company's first QPU located in Singapore. The Novera QPU will be installed in Horizon Quantum Computing's new hardware testbed in Singapore, and will be Horizon's first quantum computing system. The system is expected to be installed by early 2025.
The system will integrate Horizon's software stack, Triple Alpha, and Quantum Machines' OPX1000 processor-based quantum controller.
The 9-qubit Novera QPU is based on the Company's fourth generation AnkaaTM-class architecture featuring tunable couplers and a square lattice for denser connectivity and fast 2-qubit operations. The Novera QPU is manufactured in Rigetti's Fab-1, the industry's first dedicated and integrated quantum device manufacturing facility.
"We are witnessing the emergence of a vibrant on-premise quantum computing market. Quantum computing researchers need hands-on access to quantum technology to gain a deeper understanding of how to work towards useful quantum computing. We launched the Novera QPU to address this need - and we are thrilled that our longtime partners at Horizon selected our hardware to advance their quantum computing journey," said Dr. Subodh Kulkarni, Rigetti CEO.
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.
RGTI shares took on seven cents, or 6.2%, to $1.20.
About Us Contact Us Advertise License Our Content Jobs Disclaimer Privacy Policy
Copyright 1998 - 2024 Baystreet Media Corp. All rights reserved. Nasdaq Stocks: Information delayed 15 minutes. Non-Nasdaq Stocks: Information delayed 20 minutes. Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Market Data is provided by QuoteMedia. Earnings by Zacks. Analyst Ratings by Zacks
MENAFN23042024000212011056ID1108128428
COMTEX_451322896/2604/2024-04-24T01:45:09
