Rigetti Computing Intends to Invest $100 Million in UK to Accelerate Quantum Computing Development - The Quantum Insider
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PRESS RELEASE — Rigetti Computing, Inc. (Nasdaq: RGTI) (“Rigetti” or the “Company”), a pioneer in full-stack quantum-classical computing, today announced that it intends to invest up to $100 million in the UK to accelerate quantum computing development, which will be the Company’s first major investment outside of the US. With this investment, the Company plans to deploy a quantum computer with over 1,000 qubits in the next 3 to 4 years. This follows the UK’s recently announced program that will dedicate up to £2 billion of government investment with the aim of establishing the UK as a global leader in quantum computing. “Our presence in the UK has been marked by fruitful collaboration across industry, government, and academia. The UK government’s unwavering dedication to advancing quantum computing technology is evident across the UK’s entire quantum ecosystem. The focus on driving end-user engagement and developing on-premises capabilities for meaningful R&D makes the UK an exemplary leader in this revolutionary field. “We see strong alignment with the UK’s national quantum computing strategy and our own path to fault-tolerant quantum computing. By establishing critical, incremental milestones that work towards a quantum system capable of one trillion quantum operations (“TeraQuOp”) by 2035, we can rapidly learn and innovate throughout the scaling process. “This investment in the UK’s quantum computing sector is a reflection of the success we’ve already achieved with our UK-based programs and the potential of what lies ahead through the UK’s own investments to drive the industry forward.” “Last week, we made a world-first commitment to procure usable large-scale quantum computers by the early 2030s, backed by a £2 billion plan of Government funding, which is already having a positive impact on jobs and investment. “Rigetti shares our ambition to harness quantum to improve lives, livelihoods, and public services, and this $100 million investment is a strong and immediate vote of confidence in our approach. “The steps we are taking will deliver world-class infrastructure, access to talent, and a clear pathway which turns ideas from R&D into real-world use, building an environment which will support more companies to scale up and grow on our shores.” This commitment builds on Rigetti’s long-time presence in the UK, which includes the deployment of a 36-qubit quantum system at the National Quantum Computing Centre. The system is part of a consortium focused on advancing quantum error correction capabilities on superconducting quantum computers. Keep track of everything going on in the Quantum Technology Market. hbspt.forms.create({ portalId: "7697776", formId: "bb678241-852f-447e-b9b3-fdc974f72f81", region: "na1", onFormReady: function($form) { const conversionPageField = $form.find('input[name="conversion_page"]'); if (conversionPageField.length) { conversionPageField.val(window.location.href); } const verticalField = $form.find('input[name="vertical"]'); if (verticalField.length) { verticalField[0].value = 'Quantum'; } } }); [ivory-search id=”2367594″ title=”Custom Search Form”] One of our team will be in touch to learn more about your requirements, and provide pricing and access options. Necessary cookies are always on to ensure the website works. Optional cookies help us understand how the site is used.