"Wall Street wants clarity on the status of Rigetti's strategic partnership with Quanta Computer, which includes a $35 million PIPE investment and a $250 million co-investment roadmap."
"Consensus estimates call for $4.1 million in Q1 revenue, highlighting Rigetti's dependence on government R&D contracts and the importance of commercial sales in its future trajectory."
Rigetti Computing is set to report its first-quarter results amidst a 25% surge in share price attributed to the successful launch of its Ankaa-3 quantum processor, which achieves impressive fidelity rates and under 75-nanosecond gate times. However, the focus will also be on the pending regulatory approval of its strategic partnership with Quanta Computer, crucial for securing further funding. With $106 million in cash expected to last about a year at current burn rates, future growth hinges on revenue generation from commercial quantum processing units and customer traction.
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