Quantum computing company Rigetti Computing will receive up to $100 million under the CHIPS Act, with an initial tranche of approximately $43.9 million. The US Department of Commerce will receive approximately 7.74 million shares of Rigetti, representing a minority non-controlling stake. Remaining funds will be disbursed based on performance milestones related to R&D on superconducting quantum systems. This award is part of a broader $2.013 billion quantum initiative under the CHIPS Act distributed across nine companies, including IBM and GlobalFoundries. The issuance of these new shares results in dilution for existing Rigetti shareholders, with the company listed on Nasdaq under ticker RGTI.
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