Rigetti Shares Jump as 36-Qubit Quantum System Breaks Fidelity Record

July 16 - Rigetti Computing RGTI shares rose about 8% on Thursday morning after the quantum hardware firm reported a major technical advance on its next-gen modular platform.

The company said it achieved 99.5% median two-qubit gate fidelity on its 36-qubit system, a performance level that cuts the error rate in half compared to its earlier 84-qubit Ankaa-3 chip.

The 36-qubit setup is composed of four 9-qubit chiplets, connected using Rigetti's proprietary modular chip technology. The design marks a step toward the company's long-term target of deploying systems with over 100 qubits built from modular components.

Rigetti expects to launch the 36-qubit platform on Aug. 15. It remains on track to release a larger-scale system, also aiming for 99.5% fidelity, by the end of 2025.

The company has said its chiplet-based architecture is designed to scale more efficiently than monolithic quantum processors, potentially giving it a commercial edge as demand grows for practical quantum applications.