- Rigetti Computing (RGTI) stock increased 1.43% to $8.23 in early trading Tuesday after being selected for Innovate UK’s £3.5 million ($4.7 million) Quantum Missions pilot to advance quantum error correction (QEC) on its superconducting quantum computer at the NQCC.
- Partnering with Riverlane and the NQCC Superconducting Circuits Team, Rigetti aims to benchmark and demonstrate real-time QEC, leveraging its modular architecture and fast-gate-speed superconducting qubits to progress toward fault-tolerant quantum computing.
Rigetti Computing (RGTI) stock rose 1.43% to $8.23 in early trading Tuesday, buoyed by its selection as a winner in Innovate UK’s Quantum Missions pilot competition. The £3.5 million ($4.7 million) consortium, led by Rigetti alongside Riverlane and the NQCC Superconducting Circuits Team, will focus on advancing quantum error correction (QEC) capabilities using Rigetti’s superconducting quantum computer hosted at the National Quantum Computing Centre (NQCC). The project aims to benchmark and enhance QEC, a critical step toward achieving universal, fault-tolerant quantum computing, by conducting tests that push state-of-the-art metrics and demonstrate real-time error correction.
Dr. Subodh Kulkarni, Rigetti’s CEO, highlighted the strategic importance of the NQCC testbed in refining the company’s technology. He emphasized the advantages of Rigetti’s modular, open architecture and superconducting qubits, which offer fast gate speeds and a scalable framework for innovative QEC solutions. The collaboration with Riverlane, a leader in QEC expertise, strengthens Rigetti’s position in addressing the technical challenges of fault-tolerant quantum systems, which are essential for practical, large-scale quantum applications.
Superconducting qubits, Rigetti’s chosen modality, are prized for their ability to perform rapid quantum operations, making them a leading contender in the race to build commercially viable quantum computers. The consortium’s work will leverage the NQCC’s infrastructure to validate QEC techniques, potentially accelerating the development of quantum systems capable of outperforming classical computers in fields like cryptography, materials science, and optimization. The Innovate UK award underscores Rigetti’s growing prominence in the quantum computing ecosystem and the UK’s commitment to fostering cutting-edge innovation. With quantum computing projected to disrupt industries, Rigetti’s advancements in QEC could position it as a key player, driving investor confidence and the modest stock uptick observed Tuesday.
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