Rigetti Computing (RGTI) Achieves 99.9% 2-Qubit Gate Fidelity

Rigetti Computing (RGTI) announced a 2-qubit gate fidelity of 99.9%, indicating about 1 error in every 1,000 operations. This achievement is notable in the quantum computing space; however, competitors like IonQ have reached 99.99% fidelity. Rigetti's performance was recorded on a small prototype platform, while its larger 108-qubit system achieved only 99% fidelity. The company faces significant competitive challenges from larger tech firms such as Microsoft and Alphabet, which invest heavily in quantum technology, potentially impacting its market position.