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BERKELEY, Calif. - Rigetti Computing, Inc. (NASDAQ:RGTI), a leader in quantum-classical computing, has finalized a significant investment from Quanta Computer Inc. (TWSE: 2382.TW), marking a milestone in the companies’ strategic collaboration. Quanta, a $9.2 billion market cap company with strong financial health according to InvestingPro, has acquired approximately $35 million of Rigetti’s common stock at a price of roughly $11.59 per share. The investment comes as Quanta demonstrates robust performance with 20.87% revenue growth in the last twelve months.
This partnership combines Rigetti’s expertise in superconducting quantum computing with Quanta’s prominence in notebook and server manufacturing. As a prominent player in the Electronic Equipment, Instruments & Components industry, Quanta has maintained dividend payments for 18 consecutive years, demonstrating consistent financial stability. Dr. Subodh Kulkarni, CEO of Rigetti, expressed optimism about the collaboration’s potential to position both entities at the vanguard of the quantum computing industry.
Since 2017, Rigetti has been providing access to its quantum computers via the cloud, catering to a diverse clientele that includes enterprises, governments, and research institutions. The company’s product offerings have expanded to include on-premises quantum computing systems, which feature qubit counts ranging from 24 to 84, to support national laboratories and quantum computing centers. In 2023, Rigetti introduced the 9-qubit Novera QPU, which is designed to integrate with existing cryogenic and control systems, thereby serving the broader research and development community.
Rigetti is recognized for pioneering the first multi-chip quantum processor and for its proprietary quantum-classical infrastructure that enables seamless integration with various cloud environments. The company’s chips are produced in-house at Fab-1, the industry’s first dedicated quantum device manufacturing facility.
The press release statement also included forward-looking statements, cautioning that these are based on estimates and assumptions that may be subject to change. Rigetti’s future performance and success are contingent on various factors, including the ability to achieve technological milestones, secure government contracts, and successfully implement strategic initiatives.
The company’s collaboration with Quanta is expected to enhance its technology roadmap and accelerate the development of quantum processors. Quanta brings strong financial fundamentals to this partnership, with InvestingPro analysis showing a healthy P/E ratio of 24.54 and an overall financial health score rated as GOOD. However, potential risks that could impact the company’s trajectory include legal proceedings, maintaining key relationships, and broader economic and industry-specific challenges.
This investment and collaboration are seen as a strategic move to advance Rigetti’s position in the fast-evolving quantum computing landscape. Quanta’s strong market performance, with a 71.58% price return over the past year, suggests solid backing for this strategic initiative. The information for this article is based on a press release statement from Rigetti Computing, Inc. For more detailed financial analysis and additional insights about Quanta Computer, visit InvestingPro, where subscribers can access over 10 more exclusive ProTips and comprehensive financial metrics.
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