Rigetti Scores $4.6 Million UK Grant To Tackle Quantum Error Correction

Rigetti Computing, Inc.‘s (NASDAQ:RGTI) share price spiked on Tuesday after being named a winner in Innovate UK's Quantum Missions pilot initiative.

The £3.5 million ($4.68 million) project aims to enhance error correction in superconducting quantum computers.

Rigetti UK Limited collaborated with Riverlane and the National Quantum Computing Centre to drive advancements in quantum error correction, essential for building scalable and reliable quantum systems.

The team will use Rigetti's quantum processor, hosted at the NQCC, to perform advanced benchmarking and real-time error correction.

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Planned upgrades include expanding the processor to a 36-qubit unit from the current 24-qubit version and implementing Rigetti's latest control system to improve qubit performance and reduce latency.

Riverlane will lead the experimental work on QEC, aiming to boost system performance, while the NQCC Superconducting Circuits Team will assist in system upgrades and testing.

Beyond the QEC project, Rigetti secured two additional grants under the Quantum Missions initiative. One project teams up with SEEQC to explore integrating digital control chips with Rigetti's 9-qubit Novera™ processor.

The second involves a collaboration with TreQ, Qruise, Q-CTRL, and Oxford Ionics to build an open-architecture testbed with diverse hardware and software configurations. These initiatives highlight Rigetti's expanding influence in the UK's quantum technology landscape.

According to Benzinga Pro, RGTI stock has gained over 623% in the past year.

Investors can gain exposure to the stock via Defiance Daily Target 2X Long RGTI ETF (NASDAQ:RGTX).

Price Action: RGTI shares are trading higher by 0.55% to $8.155 at last check Tuesday.

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