Summary by Futu AI
Rigetti Computing, a quantum computing company, reported a net loss of $75.1 million for the year ended December 31, 2023, compared to a net loss of $71.5 million for the previous year. The company's accumulated deficit reached $353.8 million. Despite the losses, Rigetti has been developing its technology and market presence. The company launched the Ankaa-2 system, achieving a 2.5x performance improvement with 98% median 2-qubit fidelity. Rigetti plans to continue improving its Quantum Processing Units (QPUs) and aims to reach at least 99% 2-qubit gate fidelity by the end of 2024. The company also launched Novera, its first commercially available QPU. Rigetti's business model focuses on revenue from QPU sales and Quantum Computing as a Service (QCaaS) products, although the majority of current revenues come from...Show More