Rigetti Signs Letter of Intent with U.S. Government for Quantum Computing Research

Rigetti Computing signed a Letter of Intent with the U.S. Department of Commerce for up to $100 million in funding over three years to accelerate superconducting quantum computing R&D. The funding is allocated under the CHIPS Act, and the LOI contemplates that the Department will receive an equity stake in Rigetti consistent with the total funding amount, signaling significant dilution to existing shareholders.

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