U.S. Government Targets Quantum Computing Company with Potential $13 Billion Investment

Rigetti Computing, Inc. (NASDAQ: RGTI) has signed a non-binding letter of intent with the U.S. Department of Commerce for up to $100 million (approximately ₩130 billion) in funding under the CHIPS Act R&D program.

Disbursed over the next three years, this funding will support superconducting quantum computer research and development and efforts to scale up system capabilities. The Department of Commerce is reportedly in talks to acquire an equity stake in Rigetti proportional to its investment.

On the same day, company insider Clifton Michael S., pursuant to a pre-arranged Rule 10b5-1 trading plan, exercised his warrants and sold a portion of the resulting common shares, raising about $156,000 (roughly ₩200 million), while still retaining a stake in the company.

In its Q1 2026 results announced May 11, Rigetti reported revenues in the $4 million range and cash holdings around $500 million. The company also opened access to its 108-qubit superconducting quantum computer, Cepheus-1-108Q, to general customers on major cloud platforms.

Analysts say that securing the full $100 million in CHIPS Act funding—directly or indirectly—could strengthen Rigetti’s financial position and accelerate its strategy to commercialize superconducting quantum systems amid the U.S. government’s broader push to expand quantum computing R&D.

Headquartered in Berkeley, California, Rigetti Computing is a Nasdaq-listed specialist in superconducting quantum computers. It offers quantum computing services via its in-house quantum processors and cloud platform, competing with IBM, Google, IonQ and D-Wave. Government investments in quantum technologies and CHIPS Act support are cited as key growth drivers for the industry.