"Alphabet (NASDAQ:GOOG | GOOG Price Prediction) brings hyperscaler economics to the quantum thesis. Google Cloud printed $20.03 billion in quarterly revenue, up 63% year over year, with backlog nearly doubling sequentially to over $460 billion. That cash machine funds the Willow quantum chip, the Quantum AI division, and AI infrastructure simultaneously, with $175 billion to $185 billion in planned capital expenditures backing the buildout."
Rigetti Computing has a 108-qubit Cepheus-1-108Q system and a cash-rich balance sheet, but financial results are weak. The company has a $6.34 billion market cap against $7.09 million full-year 2025 revenue, which fell 34.31% year over year. A recent GAAP profit of $33.11 million is attributed to a favorable $53.70 million swing in derivative warrant liabilities rather than hardware sales. After removing that effect, the company reports a $26.00 million operating loss against $4.40 million quarterly revenue and has missed consensus revenue for four straight quarters. Filings warn that significant operating losses will continue and fault-tolerant quantum remains a longer-term objective with an uncertain timeline. Alphabet’s Google Cloud generates $20.03 billion quarterly revenue, up 63% year over year, and backlog near $460 billion, funding quantum and AI infrastructure alongside planned capital expenditures.
#quantum-computing #rigetti-computing #alphabetgoogle-cloud #financial-performance #fault-tolerant-quantum
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