Rigetti Computing Q4 2023 Earnings Call Transcript

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March 14, 2024

There are 7 speakers on the call.

Operator

Good day and thank you for standing by. Welcome to Rigetti Computing's 4th Quarter and Full Year 2023 Financial Results Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question and answer session. Please be advised that today's conference is being recorded.

Operator

I would now like to hand the conference over to your first speaker today, Subut Kulkarni, Chief Executive Officer. Please go ahead, sir.

Speaker 1

Good afternoon, and thank you for participating in Rigatti's earnings conference call covering the Q4 year ended December 31, 2023. Joining me today is Jeff Bertelsen, our CFO, who will review our results in some detail following my overview. Our CTO, David Rivas is also here to participate in the Q and A session. We will be pleased to answer your questions at the conclusion of our remarks. We would like to point out that this call and Rigetti's Q4 year ended December 31, 2023, press release contain forward looking statements regarding current expectations, objectives and underlying assumptions regarding our outlook and future operating results.

Speaker 1

These forward looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described and are described in more detail in our annual report on Form 10 ks for the year ended December 31, 2023, and other documents filed by the company from time to time with the Securities and Exchange Commission. These filings identify and address important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward looking statements. We urge you to review these discussions of risk factors. Turning now to recent events, I'm pleased to report a number of new developments. In February 2024, we were awarded a small business research initiative grant from Innovate UK and funded by the National Quantum Computing Centre to develop and deploy a 24 qubit quantum computer based on our ANCA class architecture.

Speaker 1

The proposed system is planned to be deployed at NQCC's Harvill campus, which is expected to open later this year and will serve as MQCC's landmark facility to support quantum computing research in the UK. Since deploying our 1st U. K. Based quantum computer in 2022, we have had the privilege of collaborating with the U. K.

Speaker 1

Talented quantum computing research community. We believe building a system at the NQCC could enable even more innovative discoveries to deepen our understanding of how to improve superconducting quantum computers with the goal of solving practical problems currently intractable by classical resources alone. In December 2023, we launched a Nuvera Quantum Processing Unit, our first commercially available QPU. Nuvera has 9 qubits and is based on our ANCA class chip architecture. We have completed 2 Nuvera QPU sales, both to leading national labs.

Speaker 1

The first sale was to superconducting quantum materials and system center led by Fermilab in the Q2 of 2023. In the Q3 of 2023, we delivered our second novella QPU to the Air Force Research Lab Information Directorate as part of our indefinite delivery, indefinite quantity contract. The IDIQ contract enables AFRL to harness Rigatti's fabrication capabilities for quantum networking hardware research and development. We are continuing our efforts to develop quantum computing solutions for financial institutions. We were recently awarded an Innovate UK grant with the aim to develop quantum machine learning techniques to enable financial institutions to more effectively process, interpret and make decisions with complex data streams.

Speaker 1

Joining Reghetti in this project is Amazon Web Services, Imperial College London and Standard Chartered. We were recently awarded Phase 2 of the DARPA program, which aims to develop a resource estimation framework to provide insight into the requirements of a superconducting quantum computing system necessary for solving large scale complex problems. The goal of Phase 2 is to refine and optimize the estimates for selected utility scale problems, delivering new upper bounds on these requirements. The University of Technology Sydney, Aalto University and the University of Southern California will continue to be project partners in Phase 2. We are partnering with River Lane and Oak Ridge National Laboratory to work to improve high performance computing and quantum integration.

Speaker 1

To develop the integration of quantum computers into high performance computing environments, the project partners plan to build a 1st ever benchmarking suite for measuring the performance of a joint HPC plus quantum system to be run on ORNL's Summit supercomputer. For the quantum components, researchers plan to use simulated hardware based on key elements of RiverLane's quantum error correction stack and real remote hardware located at our headquarters in California. And now a few comments regarding our technology roadmap. Following the internal development of 84 Cubit AMCA-one system in March 2023, our 84 Cubit AMCA2 system was made publicly available in December 2023. The 84 qubit AMCA2 system is our highest qubit count QPU available to the public.

Speaker 1

In addition to a new chip architecture that features a square lattice and tunable couplers, AMCAR2 includes a new chip fabrication process, new printed circuit board technology and electronics improvements. Combined, these improvements contributed to AMCAR 2 achieving a 98% median 2qubit gate fidelity, a 2.5x increase in error performance compared to our prior QPUs. We plan to develop and deploy our anticipated 84 qubit ANCA-three system with the goal of achieving 99% median 2 qubit gate fidelity by the end of 2024. Thereafter, it's our plan to develop the 336 Cubit Lyra system. We are confident in our ability to build better performing QPUs as evidenced by our impressive ONCA 2 performance.

Speaker 1

We believe we have laid the groundwork for building scalable high performing QPUs with our proven modular chip architecture and the innovative unco chip design that resulted in a 98% median 2 qubit gate fidelity. We are excited for the anticipated development and deployment of our AMCA-three system, which we believe will demonstrate the excellence and ingenuity of our R and D teams. We believe our leadership and expertise in full stack quantum systems paired with our strong collaborations with researchers around the world across academia, industry and government puts us in a unique position to tackle the challenges of building a quantum computer capable of addressing real world problems. With Rigetti QPUs now in 2 research labs internationally, we are even more optimistic that practical quantum computing is in reach. Jeff will now make a few remarks regarding our recent financial performance.

Speaker 2

Thanks, Subodh. Revenues in the Q4 of 2023 were $3,400,000 compared to $6,100,000 in the same period of 2022 when a large amount of revenue from SQMS was recognized. Gross margins in the Q4 of 2023 came in at 75% compared to 87% for the Q4 of 2022. Revenue and gross margin variability is to be expected at this stage of the company's evolution given the variable nature of contract deliverables and timing with major government agencies. On the expense side, total OpEx in the Q4 of 2023 was $19,700,000 compared to $32,000,000 in the same period in the prior year.

Speaker 2

The year over year decrease was primarily due to the $5,400,000 goodwill impairment charge booked in the 4th quarter of 2022 and a $3,500,000 reduction in stock compensation expense. In the Q4 of 2023, stock compensation expense totaled $3,700,000 compared to $7,200,000 in the Q4 of 2022. Other decreases in the Q4 of 2023 included lower employee wages and benefit costs resulting from our February 2023 reduction in workforce. Operating loss for the 4th quarter of 2023 was $17,200,000 compared to an operating loss of $26,700,000 for the same period of 2022. Net loss for the Q4 of 2023 was $12,600,000 or $0.09 per share compared to a net loss of $22,900,000 or $0.19 per share for the same period of 2022.

Speaker 2

Cash, cash equivalents and available for sale investments totaled $99,900,000 as of December 31, 2023, compared with $110,200,000 as of September 30, 2023 $142,800,000 at December 31, 2022. During the Q4 of 2023, we raised $5,500,000 from the sale of 5,200,000 shares of common stock under our common stock purchase agreement with B. Riley. Subsequent to year end, during the Q1 of 2024, we raised a further $12,800,000 from the sale of 10,100,000 shares of common stock under the B. Riley agreement.

Speaker 2

There are no more shares available for sale under this agreement. In December 2023, we filed a $250,000,000 shelf registration statement with the Securities and Exchange Commission. We are continually evaluating our financing options. Thank you. We would now be happy to answer your questions.

Operator

Our first question comes from the line of Quinn Bolton with Needham and Company. Your line is now open.

Speaker 3

Hey guys, can you hear me?

Speaker 1

Yes, we can.

Speaker 3

Perfect, perfect. Congratulations on the nice finish. I guess, since this is the fiscal year end, Sabod, are there any milestones you can give us for 2024 of your highest priorities? You mentioned a couple, the ONCA-three at 99, 2 median 2 cubit gate fidelities. And but wondering if there's anything else you can share kind of in terms of big milestones and then maybe for Jeff, anything I think last year you had sort of provided a year end cash balance target.

Speaker 3

I don't know if you're prepared to do anything like that for 2024, but anything you can sort of do to help shape revenue, cash flow or year end cash expectations would be helpful. Thank you.

Speaker 1

Sure. Thanks, Quinn. So certainly the most important milestone we plan to deliver in 2024 is improvement in fidelity. That is the most important metric for quantum computing right now. So our plan as we stated is to get us from 98% median 2 qubit gate fidelity, which is where we are today with 84cubit system to 99 plus percent median2cubitcatefidelity.

Speaker 1

And that's a big milestone, not only because it's a 2x reduction in errors, but also at 99% Fidelity, you can start doing realistic error correction, error mitigation, those kinds of things that are well known and well proven in conventional computation systems. So that's a big milestone from a technology standpoint. As we mentioned in our press release, once we hit 99%, we'll also start working towards our 336 Qubit Lyra system. And while we do that, we will obviously continue to improve Fidelity. Our goal is to get into the mid-99s next year along with the several 100 cubit.

Speaker 1

So those are the technology milestones. Along with it and as you can see both the Quantum Computing Lab and now that we can say AFRL, the premier DoD Quantum Computing Lab have essentially chosen Rigetti as a strong consumer of their pure choice and competition with all the other big companies. So we feel about securing the DOE and DoD on the piece, if you will. Along with it, the K. Government, our national lab of U.

Speaker 1

K. Government had set up a competition and we came out at the top. So the U. K. Government has chosen to deploy our 24 system.

Speaker 1

We are continuing to work with other national governments, including DoE, DoD and the U. K. And we hope we'll announce some more wins as the year goes on, whether it's higher cubit count systems to the existing customers like DoEd or D or UK or to new national apps and we certainly hope we can announce some of those. So that's at a high level what we are doing both from a technology as well as business standpoint. Jeff, you want to answer the question about cash?

Speaker 2

Sure. Yes, Quinn, we are not providing any forward looking guidance right now, although I would comment that given our current cash and available for sale securities on hand, we have sufficient funding to take us into the early part of Q3 2025. So just want to provide that cash runway outlook.

Speaker 3

Okay. Understanding that you don't want to sort of give sort of any kind of formal guidance for 2024, maybe can you walk through, Jeff, obviously, you've got contracts, you also have the QPU sales, and especially as you get to a 24 qubit QPU, I think the ASPs go up. Is it reasonable for analysts to sort of think you should see revenue trending sort of flat to higher through the year from kind of the December run rate? I mean, again, I won't try to get you to I won't pinpoint you, but certainly feels like between contracts that you've announced and QPU sales that revenue is likely to grow 24 over 23?

Speaker 2

Sure. Again, no forward looking guidance, but obviously it's our goal to continue to drive revenues and reduce our loss. I mean, we do have the 9 QPU Nuvera product now that we can sell and we did just get the nice 24Q and QCC contract, which certainly helps. So we're definitely focused on those things, which will extend our cash runway and help in that regard. So we're definitely focused on all the levers.

Speaker 1

Got it. I mean, again, I'll just ask you to explain that just given the basic contracts we already have plus the 24 qubit sale to NQCC, we certainly expect sales growth, but main story over here continues to be the technology and Fidelity improvement and getting close to quantum all. So I don't want sales to be the metric of how we are succeeding with the technology.

Speaker 3

Got it. Maybe just one last quick one and somebody just said, knowing that the gate fidelity is the most important goal, obviously you announced that ONCA2 is at 98%, But as you continue to run wafers in Fab 1, do you feel like perhaps the 9 qubit fidelities are already well on their way to sort of the 99% or 99 plus percent cubit fidelity? And do you have sort of the proof points that give you confidence in your ability to get to that 99% for ANCA-three by the end of the year? Thanks.

Speaker 1

It's a good question. And actually we do have data. I mean we always have a lot of data on 9 qubit before we put it all together for 24 qubit and 84 qubit systems. So all initial indications with 9 qubit and ANCA-three are that we feel very confident of hitting our 99% goal at the 84 cubit level, which means we certainly will be much higher than that at the 9 cubit level. So we all our initial data is very promising for ANCA-three and we feel pretty good about getting to 99% at the 84% cubic level before the end of this year.

Speaker 3

Perfect. Thank you.

Speaker 1

Thank you, Quint.

Operator

Thank you. Our next question comes from the line of Brian Kinstlinger with Alliance Global Partners. Your line is now open.

Speaker 4

Hi guys. Thanks for taking my questions. My first is, could you discuss the NQCC award for the 24 qubit system? How long was the evaluation process? Who is the competition specifically for the QPU piece of the procurement?

Speaker 4

And what was the feedback on why Rigetti?

Speaker 1

Thanks, Brian. Good questions. So the NQCC competition was set by the basically the UK government. They wanted a foundational quantum computer in their facility on which they build U. K.

Speaker 1

Quantum infrastructure. So it was a very key piece of equipment that they were procuring. The competition was set for roughly a 6 months period. They didn't diverge all the competitors that they evaluated, but we are pretty sure most of the companies that are at the cutting edge of technology and quantum computing were part of that competition. That's why we feel really good that they chose us as a technology of choice to build U.

Speaker 1

K. Quantum infrastructure. So clearly, it demonstrates their faith in superconducting quantum computing technology and within superconducting computing technology Rigetti as the leading technology of choice. So very important competition. We feel really good about the fact that an external third party validated and confirmed our beliefs that we are making the best quantum computers right now.

Speaker 4

And did you for your QPU piece only compete with the gating technology or was it against you think all the different types of technology for your

Speaker 1

degree award? They didn't clarify that, but based on the fact that they were looking for general purpose computing, they probably looked more at gate based computing approaches. As you probably know, when you look at things like annealing, they are very restricted to the number of applications they can pursue like optimization and a few other applications like that. As soon as you say general purpose computing for the broader market, really you have to go with a gate based approach. So the fact that they were looking for general computing, it tells me that they were primarily looking at gate based approaches.

Speaker 4

Great. And then does this award put you in a leadership position so that as the NQCC has other procurements or other national labs see that? Are you seeing increased interest?

Speaker 5

I guess I'm just kind

Speaker 4

of curious, can this lead to additional QQ sales, whether it's 9Q, it's 24 or even more?

Speaker 1

Certainly, I mean the fact that we DOE's premier quantum computing facility for meLab chose us middle of 2023. That certainly was a factor, I'm sure, in MQCC's decision of choosing us. And now that both the U. S. Government, DoEd OD Labs and now NQCC, the U.

Speaker 1

K. Lab have chosen us, I'm pretty sure the next few national labs who are looking at similar test beds and quantum computing facilities will look at us much more carefully because of if the U. S. Government and UK government deems that we are making the best quantum computers, chances are we are making the best quantum computers.

Speaker 4

And are there any other labs that are running procurements right now or is it all incoming early base calls to kind of fill out the industry?

Speaker 1

There are several countries around the world where they have quantum initiatives going on. If you go around the world, you can certainly see governments have sponsored and sometimes even gotten bills through their respective governments, I mean, Japan in specific, Australia, India, Italy, Germany, Denmark and a few other European countries. There are clearly initiatives going on in various countries to get themselves up to speed in quantum computing. So we are really optimistic about our position with U. S.

Speaker 1

And U. K. Right now and leveraging that and extending that to this different countries that are getting into quantum computing. Great.

Speaker 4

Last question I have, what's the biggest obstacle you have to achieving the 99% fidelity on the 84 qubit system in 20 24? And I guess the same question for 2025 on the larger system for 99.5?

Speaker 1

Certainly, I mean the basic discipline most of us in the semiconductor industry use to improve error rate is what we call Pareto analysis. So we look at errors just about every day. We'll do a thorough diagnosis of where the errors are coming from and plot them and then that's called Pareto analysis and then we look at the biggest contributor of errors and then we go chase them. And then once we resolve them, then the next tier and so on. So first to get from 98% 95% to 98% last year, we did all things in the we call the Josephson junction itself, which is a proper device in the chip.

Speaker 1

We also did some changes in the electronics like PCBs that we use as well as the refrigeration systems. This year to go from 98 to 99, our focus is primarily on the proper design of the cubit itself, what we call the Hamiltonian. Also more look into the refrigeration systems and the losses that we are getting from the refrigeration systems. So we have a scientific way of going after errors and addressing them. We feel pretty good about getting to 99% this year using that methodology.

Speaker 1

Great.

Speaker 4

Thanks, Bhagavath.

Speaker 1

Thank you, Bhagavath.

Operator

Thank you. One moment for our next question, please. Our next question comes from the line of Krish Sankar with TD Cowen. Your line is now open.

Speaker 5

Hi. Thanks so much for taking my questions. This is Steven calling on behalf of Krish. So maybe the first one for you, just kind of going back to the NCQQ win and sort of the deployment timing. I know you mentioned that that facility will be up and running later this year and could start the deployment of the system around that time.

Speaker 5

But just curious, in terms of when the procurement and installation of your whether it's the QPU or a number of sub components that goes into their system. Can you talk about when that approximate timing might be? Is it latest year or is it potentially into early next year? And also just more broadly, you referenced other initiatives in other countries that might still be early. Is the MCQQ's timeline in terms of building out and potentially installing, is that a good template for future kind of installments or build outs by other countries?

Speaker 1

Yes. Thanks, Krish. So certainly, the MTCC timeline that they have provided us is more gated by their facility rather than our ability to supply the QPU. We already have started ordering several sub components and we already have the chip and the core parts are already ready basically. So we are working with them right now on the facility side to make sure that the facility is then set once it comes out.

Speaker 1

Having said all that, the target right now is middle of this year, sometime in the June to August time period is when the facility will be ready. It will take us a few weeks, maybe a month or so to get it delivered and installed properly and then probably another month of debugging or so. So before well before the end of this year, the system should be up and running. That's the overall time line. As we discussed with other national labs in other countries, this model that NQCC is doing is seems to be a replicable model, if you will, and other countries are looking along the same lines where they want a 20 odd qubit system to start.

Speaker 1

9 cubit is a good starting point, but it's really for basic research applications. 20 plus cubits gives you enough horsepower to do some real competition work. So many national labs that we are talking to right now are talking about 20 plus systems. There are a couple that are talking about 80 plus cubit systems too. Those are the more aggressive ones.

Speaker 1

Obviously, the price points will be higher. So our hope is that besides NQCC, we will get at least one more, maybe a couple more national labs this year of different countries using the 20 plus cubit system And then hopefully some early work starts with some 80 plus cubit systems that may get installed early next year or middle of next year. But again, it's really the focus is all mostly on Fidelity. As Fidelity improves, all these opportunities will continue to happen.

Speaker 5

Got it. That's very helpful. And also in terms of the Nuvera QPU, it's very exciting to see the formalized program and marketing for that. From some of the details that you've published so far and it seems like the pricing for that is just under $1,000,000 But just kind of curious like are you only selling standard versions or is there opportunities for more bespoke configurations and what that would you be able to talk about sort of the rough ASP or revenue that could be associated with more bespoke designs? And lastly, in terms of the product lead time or backlog, is it still sort of intra quarter type orders that get fulfilled pretty quickly?

Speaker 5

Or is there a longer backlog or lead time associated with Nuvera?

Speaker 1

Regarding Nuvera, I mean, the product is fairly simple. I mean, our product is essentially for 900 ks. We will ship you a basic QPU that can essentially become a plug and play module into your dilution refrigeration system. So our baseline assumption is that the customer already has a Doctor in their facility, are familiar with quantum computing in general. So they can just take our GPU and plug it into their Doctor.

Speaker 1

That's the whole concept of nowhere and they can we have all the parts ready and we literally keep 1 or 2 ones in stock right now. So if an order comes tomorrow, we can ship it within a day practically. And it's fairly straightforward to get it integrated and up and running for a customer who is familiar with quantum computing and dilution refrigerations. So it's a fairly straightforward product sale, if you will, get the order shipped through a standardized QPU that goes directly into the system. There's 3 dilution refrigeration companies that are generally available in the world right now, Blue Force, a Finnish company, Oxford Instruments from UK, FormFactor from California.

Speaker 1

And then a couple of other smaller companies are getting into the business. Each one has a slightly different configuration of the TR. So depending on the exact model and which what the customer has, it may need some customization. But our plan is to try to keep it as an off the shelf standard product that we can ship quickly that will plug into your existing Doctor. But there are some Doctors that may not be suitable to blow plug and play, in which case we may have to do some adjustments or they may have to do adjustments on the customer side.

Speaker 1

But the idea is a straightforward simple shipment.

Speaker 5

Okay, great. Thank you so much for that. And just last one for Jeff. Jeff, on the share count side, just wondering if you could help quantify a bit what the share count might be for this quarter and when the full dilution from all the recent equity raise, what that might be for next quarter? Thank you.

Speaker 2

Sure. Yes, I mean the full share count impact from the activity that I mentioned in Q1 of 2024 that will really kick in for the Q2 of 2024. We did sell 10,100,000 shares in the Q1. So from a share count perspective, we will be north of 150,000,000 shares here by the time we get to the end of Q1.

Speaker 5

Okay, great. Thank you so much.

Speaker 1

Thank you.

Operator

Our next question comes from the line of David Williams with the Benchmark Company. Your line is now open.

Speaker 6

Hey, good afternoon, gentlemen. Hope you can hear me okay.

Speaker 1

Yes, we can hear you, David. Great.

Speaker 6

Some pretty significant progress across many of the aspects of the firm and the company. Just bringing that road map, I think, from what it was previously sustainable, it feels like in the past as you set forward. Kind of wondering as you look out, what do you think the next big steps are for Rigetti? And how do you feel about your relative to your peers?

Speaker 1

Yes, your line was cutting off, but I think I got digested the question. So I'll answer it from what I understood. So regarding our roadmap and critical points, as I mentioned, fidelity is the top critical point for all of us in quantum computing. We are at 98% median 2 qubit gate fidelity at the 84 qubit level. Obviously, the number is much higher for smaller qubit counts.

Speaker 1

Our goal is to get to 99 this year and in the mid-99s next year at 84 cubit, at which point, hopefully, we'll start dialing up the cubit count to several 100 qubit. We talk a lot about fidelity and qubit count and that gets a lot of attention. But another important metric is gate speed. Generally, our gate speeds are in the 50 to 100 nanosecond range right now. Most of us in the supercomputing space are in that 50 to 200 nanosecond gate speed range.

Speaker 1

When we look at other modalities, particularly things like ion or pure atoms, they are doing the 3 orders of magnitude slower gate speeds than what we in the superconducting camp are looking at. As we have always said, the challenge for superconducting quantum computing is fidelity. The benefits we have are scalability and gate speed. The challenges for the other modalities like trapped ion and pure atoms, their fidelity intrinsically is better because they are dealing with pure ions or pure atoms. But the big challenge for them is scalability and gate speed.

Speaker 1

I mean, it's really hard to overcome 3 orders of magnitude of gate speed for those types of technologies. This is in addition to the scalability challenge. So overall, within the quantum computing space, we continue to be a firm believer in superconducting quantum computing. We think that is the right way to go about tackling real life problems. And that's why you look at collectively between us and other companies in the superconducting space like IBM, Google and a few others, we are really making rapid progress, all of us.

Speaker 1

So within the next 2 to 3 years, I'm sure more than one of us in the superconducting camp will be at 1,000 plus Qubit at 99.5 or better percent fidelity with sub-one hundred nanosecond gate speed. And that's really when real life quantum advantage type applications start becoming meaningful. So I think that's where the superconducting camp is going. We feel pretty good that we are in the leadership position in that camp as evidenced by the government of U. S.

Speaker 1

And the government of U. K. Choosing us over others. So we feel pretty good about superconducting quantum computing in general and within that our position. Hopefully that answers your question, if I heard it correctly.

Operator

Thank you. I'm currently showing no further questions at this time. I'd like to hand the conference back over to Mr. Subhut Kulkarni for closing remarks.

Speaker 1

Thank you all for your questions and interest. We look forward to updating you as the year progresses. Thanks again.

Operator

This concludes today's conference call. Thank you for your participation. You may now disconnect. Everyone have a wonderful day.

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Key Takeaways

  • Innovate UK Grant: Rigetti won funding to deploy a 24-qubit ANCA-class quantum computer at the U.K.’s National Quantum Computing Centre, strengthening its international research collaborations.
  • Nuvera QPU Launch: The company released its first commercially available 9-qubit Nuvera QPU and has secured two early sales to Fermilab’s SQMS center and the Air Force Research Lab.
  • Technology Roadmap: Its 84-qubit ANCA-2 system achieved 98% median two-qubit gate fidelity, with a target of 99% on ANCA-3 by end-2024 and plans for a 336-qubit “Lyra” system thereafter.
  • Q4 Financial Results: Q4 revenue declined to $3.4 M (vs. $6.1 M prior year), operating loss narrowed to $17.2 M and net loss to $12.6 M, and cash of $99.9 M provides runway into Q3 2025.
  • Strategic Partnerships: Rigetti secured multiple research awards and collaborations, including the Innovate UK quantum ML project with AWS and Standard Chartered, DARPA Phase 2, and HPC-quantum integration with Oak Ridge National Lab.
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Earnings Conference Call
Rigetti Computing Q4 2023
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