Rigetti Computing RGTI secured a definitive $100 million award from the U.S. Department of Commerce under the CHIPS Act Research and Development Office to accelerate research and development aimed at scaling superconducting quantum computing.
The funding marks a significant government-backed validation of Rigetti's technology and will support efforts to overcome critical engineering hurdles that have long constrained the development of utility-scale quantum computers.
As part of the agreement, the Department will receive a minority, non-controlling equity stake in the company.