Latest news with #QuantumBenchmarkingInitiative
Miami Herald
3 days ago
- Business
- Miami Herald
Analyst revamps Rigetti price target for one unexpected reason
Quantum computing may still sound like science fiction to some, but a few pure-play stocks are turning that dream into serious market firepower. Call it hype or the future, but quantum computing stocks continue to deliver on Wall Street, building on their late-2024 surge. Don't miss the move: Subscribe to TheStreet's free daily newsletter Even with the bubble chatter, some niche players continue racking up big gains, while building tech that promises to flip the script on modern computing. One standout, though, is proving it can efficiently scale its cutting-edge quantum tech and build real momentum outside the lab. Backed by heavyweight partnerships and a ton of cash, this frontrunner just scored a fresh Wall Street nod as it rockets ahead. Rigetti Computing (RGTI) has quickly become one of the bellwethers in the quantum computing space. It has set itself apart in delivering a full-stack system, combining its own superconducting qubit chips, control hardware, and a cloud-ready software platform. At the heart of it all is Rigetti Quantum Cloud Services (QCS). For developers, QCS streamlines things, offering instant access to Rigetti's processors along with simple APIs and SDKs to run mixed quantum-classical workflows. On the financial front, Rigetti is in a relatively impressive position. In its first quarter, it posted $1.5 million in revenue and $42.6 million in net income ( mostly due to non-cash gains). Related: Veteran analyst drops shocking Tesla target More importantly, it wrapped up the quarter with a hefty $209 million in its cash till. It was later supercharged in June by raising another $350 million through an at-the-market equity offering, bringing those cash reserves to about $575 million. Moreover, 2025 has been a busy year for its business. Rigetti locked in a $35 million equity deal with Quanta Computer to scale quantum module production. More Tech Stock News: Solar stocks' nightmare year just got a plot twistApple could make big change to Siri, delight fansVeteran analyst offers eye-popping Nvidia, Microsoft stock prediction In a foray into the Asia-Pacific region, it also signed an MOU with South Korea's Norma to launch an 84-qubit system. On the R&D front, it was among the 15 finalists in DARPA's Quantum Benchmarking Initiative, a critical government push to get superconducting systems to "utility-scale" performance by 2033. Also, with partnerships with the UK's National Quantum Computing Centre, Rigetti is showing that it's not just building chips, but an entire ecosystem. Rigetti Computing stock is in the news this week, after Cantor Fitzgerald slapped an Overweight rating and a $15 price target (up over 15% from its last close). Without sugarcoating the reality, Cantor's Troy Jensen feels the quantum computing industry is still in its nascence. That means full-scale, error-corrected systems are probably years off, but the promise of mind-bending speed has kept Wall Street buzzing, with valuations running way ahead of near-term revenue. Moreover, it's not just Rigetti catching this wave. Its popular peers like IonQ and D-Wave have attracted similar attention, as they roll out their ambitious hardware roadmaps and next-gen software. Related: Cathie Wood makes surprising chip bet as AI battle heats up As mentioned earlier, Rigetti made its own splash by raising $350 million through an at-the-market equity sale, padding its balance sheet. Naturally, that massive cash cushion should help Rigetti land major new deals with governments and key cloud players, which remain must-haves in the quantum arms race. Cantor's endorsement is a bet that getting in early on the quantum bandwagon could pay off immensely. However, the spotlight is now on Rigetti and its peers to deliver scalable, error-corrected systems and to commercialize quantum-as-a-service in the process. Yesterday was massive for Rigetti, where its stock skyrocketed 15.5% to around $13 mark. And over the past year, it's gone parabolic, delivering more than 1,000% gain. Drill down further, and on a nine-month basis, the stock is up roughly 1,400%, while its three-month return of 45% wipes the floor with other stalwarts in the tech niche. Related: Analyst reboots IonQ stock price target for surprising reason The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Business Insider
14-06-2025
- Business
- Business Insider
Why IONQ, RGTI and QBTS are Worth the Risk in Quantum Computing
Quantum computing stocks are high-risk, high-reward plays, where the tech still feels futuristic, but the potential upside could be transformative for your portfolio. While giants like NVIDIA (NVDA) and Alphabet (GOOGL) have stakes in the field, pure-play names like IonQ (IONQ), Rigetti Computing (RGTI), and D-Wave Quantum (QBTS) are gaining serious traction. Confident Investing Starts Here: Each is taking a distinct approach in a sector expected to grow significantly over the next decade. With quantum tech reaching what Nvidia's Jensen Huang recently called an 'inflection point,' these companies are riding a powerful wave of both investor excitement and tangible technological progress. IonQ (NYSE:IONQ) | The Trapped-Ion Powerhouse IonQ is shaping up to be the quarterback of the quantum computing world—everyone's watching, and for good reason. Their trapped-ion technology, which uses charged atoms suspended in electromagnetic fields, produces qubits with exceptional coherence times, translating to more stable and reliable calculations. They've already surpassed 100 qubits, and their systems are available across Amazon (AMZN), Microsoft (MSFT), and Google Cloud, making IonQ a top choice for developers building quantum applications. In Q1, IonQ posted $7.6 million in revenue and forecasted full-year revenue between $75–$95 million, nearly doubling last year's figure, while trimming losses to $0.14 per share from $0.19. The buzz lately? Their aggressive M&A strategy. IonQ recently acquired Lightsynq Technologies to accelerate the development of fault-tolerant quantum systems and invested $1 billion in Oxford Ionics to boost R&D, aiming to scale up to 2 million physical qubits by 2030. They've also forged partnerships with heavyweights such as AstraZeneca and Nvidia in quantum-powered drug discovery and secured a key contract under DARPA's Quantum Benchmarking Initiative. Yes, a $10.4 billion market cap is steep given current revenues, but the long-term thesis hinges on IonQ's strategic partnerships, cloud integration, and early mover advantage potentially paying off for investors willing to ride out the volatility. Is IonQ a Buy, Hold, or Sell? Currently, most analysts are bullish on IONQ stock. The stock features a Strong Buy consensus rating based on four Buy and one Hold ratings assigned in the past three months. No analyst rates the stock a sell. IONQ's average stock price target of $43 implies ~11% upside over the next twelve months, despite shares having already rallied about 400% since this time last year. Rigetti Computing (NASDAQ:RGTI) | The Superconducting Maverick Rigetti's story is a bit more turbulent, but still intriguing. Their superconducting gate-based systems are built for speed, executing operations in just 60–80 nanoseconds, far faster than ion-based platforms. That kind of performance is ideal for time-sensitive workloads, such as financial modeling and AI. As a vertically integrated company, Rigetti controls everything from chip design to cloud access, positioning itself for potential large-scale growth. Their 84-qubit Ankaa-3 system debuted in Q1, and they're targeting enterprise clients, including HSBC and Moody's. However, the financial picture is rough. Q1 revenue dropped 52% to $1.47 million, and the company reported a staggering $200.99 million net loss on just $10.79 million in revenue for 2023, highlighting a steep burn rate. Still, Rigetti isn't standing still. They landed a $35 million deal with Quanta Computer, secured a £3.5 million UK consortium lead focused on quantum error correction, and earned DARPA support—solid wins that keep them relevant. Looking ahead, analysts expect revenue to grow to $23 million in 2026 and $38 million in 2027. It's a high-risk play, but if execution improves, Rigetti could be at the start of a long-term turnaround. Is Rigetti Stock a Good Buy? On Wall Street, Rigetti stock carries a Strong Buy consensus rating based on five unanimous Buy ratings. No analyst rates the stock a hold or a sell. RGTI's average stock price target of $15 implies almost 24% upside potential over the next twelve months. D-Wave Quantum (NYSE:QBTS) | The Tempered All-Star D-Wave Quantum is taking a different path—and making no apologies for it. Their quantum annealing technology, designed for optimization tasks like supply chain logistics and drug discovery, is already producing real-world results. Their Advantage2 system, with over 4,400 qubits, recently completed a magnetic simulation in minutes—something a classical supercomputer would take a million years to solve, according to a Science journal paper. In Q1, revenue hit a record $15 million, a sixfold increase year-over-year, with strong momentum expected to continue. The stock has been on a tear, skyrocketing 1,281% over the past year, far outpacing IonQ's 402% and Rigetti's 840%. Their Leap cloud platform is available in 40+ countries and serves 25 Forbes Global 2000 clients, showcasing real commercial traction for quantum. But with a $5.22 billion market cap and a price-to-sales ratio nearing 200x, the valuation is steep and heavily speculative. The key question is whether D-Wave's annealing approach can hold its edge as gate-based systems advance. It's still early days, and the verdict remains uncertain—but for now, D-Wave is proving that practical quantum solutions might not be as far off as once thought. Is D-Wave a Good Stock to Buy? D-Wave is currently covered by six Wall Street analysts, all of whom hold a bullish outlook. The stock carries a Strong Buy consensus rating with all six analysts assigning a Buy rating over the past three months. However, QBTS's average price target of $13 suggests approximately 18% downside potential over the next twelve months. Why Roll the Dice? Quantum computing stocks are far from safe bets—they come with deep losses, sky-high valuations, and intense competition from tech giants like Google and IBM. Still, IonQ's enterprise-ready systems, Rigetti's speed-focused tech, and D-Wave's real-world traction make them standout players in a field with extensive long-term commercialization capacity. While the future of their revenues and profitability remains uncertain, all three deserve a spot on investor watchlists.
Yahoo
11-06-2025
- Business
- Yahoo
SEEQC Announces Collaboration With IBM Under DARPA's Quantum Benchmarking Initiative
Collaboration Boosts New York's Quantum Ecosystem to Advance U.S. Quantum Computing Leadership ELMSFORD, N.Y., June 11, 2025 /PRNewswire/ -- SEEQC, a leader in scalable and energy-efficient quantum technologies, today announced a strategic technical collaboration with IBM as part of the U.S. Defense Advanced Research Projects Agency's (DARPA) Quantum Benchmarking Initiative (QBI). The collaboration will explore integrating SEEQC's Single Flux Quantum (SFQ) chip-based control layer technologies with IBM's leading-edge quantum systems architecture. SEEQC envisions using its SFQ technologies to shrink and consolidate external racks of classical control hardware by transferring certain elements to a system-on-a-chip that operates adjacent to quantum chips within an ultra-cold dilution refrigerator. "SEEQC's work with IBM highlights both companies' contributions to the U.S. Government's investments into large-scale quantum computing capabilities," said John Levy, CEO and Co-Founder of SEEQC. "Our leading SFQ chip-based digital control technology improves the energy efficiency and functionality of quantum computing systems, and we're excited to build on our team's research." While SEEQC explores how SFQ control chips could enhance quantum system performance and reduce energy use in future systems, IBM will continue to progress on its IBM Quantum Development Roadmap, including its work to deliver a large-scale, fault-tolerant quantum computer. "IBM is on track with our IBM Quantum Roadmap to realize a fault-tolerant quantum computer by 2029," says Jay Gambetta, IBM Fellow and VP, IBM Quantum. "Controlling and scaling such large-scale quantum systems is a difficult engineering problem with many unresolved research questions. We are excited to collaborate with SEEQC, investigate these questions, and accelerate the progress toward our 2029 goal." While both companies maintain a global presence, SEEQC and IBM are deeply rooted in New York State's quantum ecosystem. SEEQC designs and tests its SFQ chips at its headquarters in Elmsford, while the IBM Quantum team primarily works out of the Thomas J. Watson Research Center in Yorktown Heights. "This collaboration between IBM and SEEQC showcases the strength of Westchester County's and New York State's ecosystem of expertise in quantum information sciences," said Deborah Novick, Director at the Westchester County Office of Economic Development and co-lead of the NY QUANTUM Consortium. "I am excited to see how the two organizations help advance quantum computing as part of DARPA's QBI." The Quantum Benchmarking Initiative reflects DARPA's broader mission to develop rigorous performance metrics and enable the design of practical, useful quantum computers for national and global challenges. The SEEQC-IBM collaboration exemplifies how New York's quantum ecosystem contributes to the entire "commercialization continuum" — from fundamental research and chip fabrication, to system integration and deployment. About SEEQCSEEQC is pioneering energy-efficient, scalable quantum computing through its proprietary Single Flux Quantum (SFQ) technology. Headquartered in Elmsford, New York, SEEQC designs and manufactures next-generation quantum control systems that integrate classical and quantum components on a single chip. Learn more at Media Contacts: SEEQCDavis Richardson, Paradox Public Relations dr@ IBMChris Nay, IBM Communications cnay@ View original content: SOURCE SEEQC Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11-06-2025
- Business
- Yahoo
SEEQC Announces Collaboration With IBM Under DARPA's Quantum Benchmarking Initiative
Collaboration Boosts New York's Quantum Ecosystem to Advance U.S. Quantum Computing Leadership ELMSFORD, N.Y., June 11, 2025 /PRNewswire/ -- SEEQC, a leader in scalable and energy-efficient quantum technologies, today announced a strategic technical collaboration with IBM as part of the U.S. Defense Advanced Research Projects Agency's (DARPA) Quantum Benchmarking Initiative (QBI). The collaboration will explore integrating SEEQC's Single Flux Quantum (SFQ) chip-based control layer technologies with IBM's leading-edge quantum systems architecture. SEEQC envisions using its SFQ technologies to shrink and consolidate external racks of classical control hardware by transferring certain elements to a system-on-a-chip that operates adjacent to quantum chips within an ultra-cold dilution refrigerator. "SEEQC's work with IBM highlights both companies' contributions to the U.S. Government's investments into large-scale quantum computing capabilities," said John Levy, CEO and Co-Founder of SEEQC. "Our leading SFQ chip-based digital control technology improves the energy efficiency and functionality of quantum computing systems, and we're excited to build on our team's research." While SEEQC explores how SFQ control chips could enhance quantum system performance and reduce energy use in future systems, IBM will continue to progress on its IBM Quantum Development Roadmap, including its work to deliver a large-scale, fault-tolerant quantum computer. "IBM is on track with our IBM Quantum Roadmap to realize a fault-tolerant quantum computer by 2029," says Jay Gambetta, IBM Fellow and VP, IBM Quantum. "Controlling and scaling such large-scale quantum systems is a difficult engineering problem with many unresolved research questions. We are excited to collaborate with SEEQC, investigate these questions, and accelerate the progress toward our 2029 goal." While both companies maintain a global presence, SEEQC and IBM are deeply rooted in New York State's quantum ecosystem. SEEQC designs and tests its SFQ chips at its headquarters in Elmsford, while the IBM Quantum team primarily works out of the Thomas J. Watson Research Center in Yorktown Heights. "This collaboration between IBM and SEEQC showcases the strength of Westchester County's and New York State's ecosystem of expertise in quantum information sciences," said Deborah Novick, Director at the Westchester County Office of Economic Development and co-lead of the NY QUANTUM Consortium. "I am excited to see how the two organizations help advance quantum computing as part of DARPA's QBI." The Quantum Benchmarking Initiative reflects DARPA's broader mission to develop rigorous performance metrics and enable the design of practical, useful quantum computers for national and global challenges. The SEEQC-IBM collaboration exemplifies how New York's quantum ecosystem contributes to the entire "commercialization continuum" — from fundamental research and chip fabrication, to system integration and deployment. About SEEQCSEEQC is pioneering energy-efficient, scalable quantum computing through its proprietary Single Flux Quantum (SFQ) technology. Headquartered in Elmsford, New York, SEEQC designs and manufactures next-generation quantum control systems that integrate classical and quantum components on a single chip. Learn more at Media Contacts: SEEQCDavis Richardson, Paradox Public Relations dr@ IBMChris Nay, IBM Communications cnay@ View original content: SOURCE SEEQC
Mint
10-06-2025
- Business
- Mint
IBM has a roadmap to a ‘fault-tolerant' Quantum computer by 2029
International Business Machines said Tuesday it has a plan for building what it calls the world's first large-scale, fault-tolerant quantum computer at its New York data center before the end of the decade. The computer, called IBM Quantum Starling, will be housed in its Poughkeepsie, N.Y., center and have 20,000 times the computational power of today's quantum computers, the tech giant said. 'I feel more comfortable than ever that a fault-tolerant quantum computer will exist before the end of this decade," said Jay Gambetta, IBM's vice president of quantum. 'We are putting error-correction in detail on our roadmap because we believe now we've solved all the scientific challenges." Quantum computers are susceptible to instability, requiring quantum error correction—a technique that identifies and addresses errors in computations—and more broadly, quantum fault-tolerance, the ability to operate even with errors present. Among the companies racing to build a practical quantum computer, from tech giants like Microsoft and Google to quantum companies like D-Wave, Quantinuum and IonQ, IBM isn't the only one that has promised a fault-tolerant computer by 2029. Others have recently made progress in the area of error correction, including Amazon, with its Ocelot quantum computing chip, which it said can reduce quantum errors by up to 90%. Google is also focused on error correction with its Willow chip. Quantum computers store information as quantum bits—otherwise known as qubits—which can exist as a zero and a one at the same time and so are much richer objects than the binary digits that ordinary computers use. That makes them capable of much more powerful types of computations than ordinary computers, and could mean they can help engineer materials at the molecular level, or even crack the defenses used to secure the internet. But one of quantum computing's major problems is that qubits generate errors as they tackle problems. They're fragile, and susceptible to 'noise," essentially small environmental disturbances that can force them out of their quantum state. That's made the quest to build a so-called fault-tolerant quantum computer a priority for tech giants and quantum companies alike. Gambetta said IBM's confidence in its 2029 timeline stems from two recent developments: further advances in a new approach to reducing errors called 'quantum low-density parity check" or qLDPC codes, plus a technique for identifying and correcting errors in real-time using conventional computing. Additionally, quantum computing startup SEEQC is expected to announce a collaboration with IBM this week as part of the U.S. Defense Advanced Research Projects Agency's Quantum Benchmarking Initiative, which is aimed at evaluating quantum companies' ability to achieve utility-scale operation. As part of the partnership, the two companies will work to shrink and consolidate IBM's racks of control hardware by transferring some control and readout elements directly onto a chip. SEEQC manufactures its own quantum chips, known as integrated QPUs, in a factory in Elmsford, N.Y. IBM is releasing more detailed plans for its large-scale quantum computer at this point because it hopes to spur developers' interest in creating quantum algorithms—a key part of the software that will run on quantum computers. That's critical to achieving a return on investment for quantum computers, a metric that matters to businesses, Gambetta said. But, at this point, it's not clear how IBM's breakthroughs 'translate into tangible business value," and the transformative potential of fault-tolerant quantum computers is still speculative, said Chirag Dekate, an analyst at IT research and consulting firm Gartner. IBM's plans are also light on details about its new quantum computer's commercial availability, and specific dates for when its error-corrected systems will be released, Dekate said. In response, IBM asserted that it has the most detailed roadmap and plans for commercialization in the industry. 'This is inherently hard to do because quantum innovation has many moving parts," Dekate said. 'The reality in quantum is that we are not yet at the ChatGPT-like moment where the technology, algorithms and impact become visceral and undeniable." At the same time, the comprehensive nature of IBM's plans to build its fault-tolerant quantum computer is worthy of note, said Heather West, an analyst at International Data Corp. IBM's plans should serve as a wake-up call to businesses and the tech community to pay attention to the speed at which quantum computing is advancing, West added. 'When you hear this announcement by IBM, as well as others by other hardware vendors, you realize that this is a real technology, and it's coming to fruition as we speak," she said. Write to Belle Lin at and Isabelle Bousquette at
