Rigetti Computing, Inc. (RGTI), on Wednesday announced it has completed sales of $350 million in gross proceeds from its previously disclosed at-the-market equity offering program.
The successful offering significantly boosts the company's financial strength, bringing Rigetti's total cash, cash equivalents, and available-for-sale investments to approximately $575 million, with no debt.
The funds raised will primarily be used for working capital, capital expenditures, and other general corporate purposes.
Additionally, Rigetti may allocate a portion of the proceeds toward potential strategic collaborations, acquisitions, or partnerships to enhance its position in the rapidly evolving quantum computing market.
With this strengthened balance sheet, Rigetti is well-positioned to accelerate the commercial scale-up of its superconducting gate-based quantum computers and continue advancing its full-stack quantum-classical infrastructure.
Founded in 2013, Rigetti has operated cloud-based quantum computers since 2017 and serves global enterprise, government, and research clients through its Rigetti Quantum Cloud Services or QCS platform.
In 2021, the company began offering on-premises quantum systems with 24 to 84 qubits, serving national labs and quantum centers.
In 2023, it launched the Novera QPU—a compact, high-performance 9-qubit processor designed for seamless integration into existing cryogenic systems.
Rigetti continues to lead in quantum hardware innovation, developing the industry's first multi-chip quantum processor and manufacturing its quantum chips in-house at Fab-1, the world's first dedicated quantum device fabrication facility.
The completion of this equity offering marks a significant milestone in Rigetti's journey to deliver scalable, practical quantum computing solutions for real-world applications.
Currently, RGTI is trading at $12.93, up by 15.04 percent on the Nasdaq.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.