Rigetti Computing, Inc. (“Rigetti” or the “Company”), a pioneer in full-stack quantum-classical computing, today announced its financial results for the third quarter ended September 30, 2024 and business updates, including updates to its technology roadmap.

Universal Quantum, a leader in scalable quantum computing, has achieved a major research breakthrough in fault-tolerant quantum computation with “Constant-Time Magic State Distillation”. This research advancement is poised to make large-scale quantum computation significantly faster and more feasible. By reducing the time and physical resources required to produce high-fidelity qubits, Universal Quantum’s discovery will transform how quantum computers handle error correction, directly impacting practical implementations in the field.

In work published in Science Advances, Hayato Goto from the RIKEN Center for Quantum Computing in Japan has proposed a new quantum error correction approach using what he calls “many-hypercube codes.” This approach, which turns out to have an elegant geometry, could help realize extremely efficient error corrections and contribute to highly parallel methods that will allow fault-tolerant quantum computing, the next stage in the evolution of quantum computers.

Riverlane, the global leader in quantum error correction technology, is proud to announce the award of a £2.1m European Innovation Council (EIC) Transition grant funded by the Horizon Europe guarantee and backed by the Department for Science, Innovation & Technology (DSIT). Stemming from Riverlane’s foundational research in quantum error correction, this grant will propel the development of a quantum error decoder capable of supporting the real-time decoding of quantum operations – a crucial step to achieving quantum advantage.

Riverlane, the global leader in quantum error correction technology, has been awarded a contract alongside Rigetti Computing, a pioneer in full stack quantum classical computing, to integrate elements of its Quantum Error Correction Stack into a new quantum computing testbed solution being built for the UK government.

Riverlane has been granted a United States Patent for its "quantum computing decoder and associated methods" to address the 'backlog problem' – a fundamental barrier to scaling quantum computers.