Rigetti Computing

Quantum Computing, ticker QUBT, reports Monday.

Rigetti, RGTI, and D-Wave Quantum, QBTS, report Tuesday.

SA analyst Lee Bailey says D-Wave is selling real technology, and its enterprise traction bears watching.

I'm not ruling out the prospect of quantum optimization turning into a large enterprise business, he says, but adds that at $9, there's simply not enough margin for error in how many success factors must occur for the stock.

There are a few different kinds of players in the industry.

Firstly, there are the large quantum hardware companies themselves, people like Google, IBM, Continuum, also quantum hardware focused companies like Rigetti, Quera, many others.

And they're all working very hard to actually build the hardware platforms.

we are working with them to run our algorithms and software on those platforms.

What were you expecting? What actually happened? And what was the reaction in the room?

So we have been implementing some of our algorithms on quantum hardware quite early on from some of the earliest projects that we did in Phasecraft.

In particular, we had an early project where we were working with Rigetti to implement some of our materials modeling algorithms and others on their quantum hardware.

um and i think it's a sort of interesting one because you when you when you run an algorithm on a quantum computer you run it in the cloud essentially so you write a program you send it out to the the quantum computer in the cloud you get some results back so it's not like you have a box in the corner of the room with lots of blinking lights so um so in some sense it doesn't look as impressive perhaps as you would think but It is really exciting and reassuring to actually get answers back and see that the algorithm is doing what you expect and it's getting meaningful results back.

You see, in September, listed quantum companies traded in multiples at hundreds of times their yearly revenue.

Rigetti, one of the famous goats in the industry.

The company physicist Chad Rigetti founded Rigetti.

after IBM.

He traded at about 776 times revenue.

What about

you? So I have Rigetti on there, but I'm going to have some.

Now, I don't think that they don't necessarily have to be bad companies.

I think they're overhyped.

So there's not a lot of companies that can fulfill this role.

So to me, it doesn't matter which quantum company, whether it's IonQ or Rigetti or, you know, you can name them all, D-Wave.

It

doesn't matter which one becomes the winner.

So I was actually the first commercial quantum computer programmer.

So there was a company in the Bay Area called Rigetti, like 10 years ago.

And they told me years later that I was the first user ever.

They didn't tell me that.

What about you?

So I have Rigetti on there, but I'm going to have some.

Now, I don't think that they don't necessarily have to be bad companies.

I think they're overhyped.

Now, quantum is not readily available today, but Google's working on it.

You've got Rigetti working on it.

There's loads of companies out there that are building quantum computers.

And they will crack that problem space.

The market's reaction IonQ shares fell more than 9% and other quantum names.

Rigetti, D-Wave, traded down with it.

The negative reaction tells you the market is no longer giving quantum companies a free pass on any acquisition.

IonQ has been on a buying spree.