Rigetti Computing said in its latest technology update that the biggest challenge in its quantum roadmap is no longer adding more qubits but improving the performance of its flagship 108-qubit Cepheus system. During the second quarter of 2026 earnings call, management acknowledged that coherence time has become the primary bottleneck limiting two-qubit gate fidelity, even as Cepheus-1-108Q stands among only three generally available gate-based quantum computers with more than 100 qubits. The system currently operates with coherence times of roughly 25-30 microseconds, a level that constrains the reliability of quantum operations. Rigetti is directing engineering efforts toward chip redesigns, fabrication process improvements and new materials, including tantalum-capped superconducting contacts, and management expects these initiatives to gradually double or even triple coherence times over the next several years. In peer updates, Quantum Computing Inc. signed a three-year Framework Agreement with Hamad Bin Khalifa University in Qatar covering quantum computing, sensing and communications, while IonQ secured an $8.18 million commercial agreement with Congruity360 to integrate quantum-safe networking into its enterprise data management platform.
B. Riley Keeps Buy Ratings on IonQ, D-Wave and Rigetti Ahead of Quantum World Congress
B. Riley Securities is maintaining bullish ratings on IonQ, D-Wave Quantum and Rigetti Computing ahead of Quantum World Congress, betting that a shift in government policy from pure research toward commercialization could open a more meaningful revenue path for the quantum-computing sector. The firm kept Buy ratings with price targets of $100 for IonQ, $40 for D-Wave and $35 for Rigetti. Analyst Craig Ellis pointed to the Department of Energy's From Lab to Market session at the September 23-25 conference as a sign that federal policy may increasingly focus on moving quantum technologies into commercial applications. The event will also feature a two-hour National Quantum Updates session with more than 10 governments, participation from the White House Office of Science and Technology Policy, and back-to-back keynotes from Microsoft and IBM. B. Riley's thesis is sector-wide, but the report provides no fresh revenue forecasts, cash-flow estimates, technical milestones or new valuation work behind the three price targets, leaving the stocks dependent on long-term expectations rather than near-term financial evidence.
IBM Finalizes $1 Billion Federal Award for Anderon Quantum Foundry
IBM finalized a $1 billion Commerce Department award for its Anderon subsidiary, adding federal backing to its domestic quantum-chip manufacturing push. The company is putting another $1 billion of its own capital behind Anderon's 300-millimeter Albany foundry, taking the disclosed funding package to $2 billion before counting previous investment at the site. Early wafers are already moving through production, targeting superconducting qubits alongside the signaling and readout hardware needed to connect them, with more quantum architectures expected to follow. Shares fell 0.5% to $228.46, a price 5.91% below IBM's GF Value estimate of $242.80. Washington is covering half of the newly disclosed $2 billion commitment, but IBM has not disclosed outside customers, purchase commitments, expected utilization or revenue targets for the foundry.
IBM's Anderon Finalizes $1 Billion CHIPS Act Quantum Foundry Award
Anderon, an IBM subsidiary, finalized a $1 billion research-and-development award from the U.S. Department of Commerce on Wednesday under the 2022 CHIPS and Science Act. The funding will support Anderon's efforts to advance quantum wafer manufacturing at its facility in Albany, New York, where a 300-millimeter quantum wafer foundry serves customers across the quantum industry. IBM has put up $1 billion of its own money alongside the federal award, and production is underway with quantum wafers already in process. The Anderon award is part of a broader $2 billion package distributed across nine quantum computing companies under the CHIPS and Science Act, with GlobalFoundries in line for $375 million and D-Wave Quantum, Rigetti Computing, and Infleqtion each expected to receive $100 million; each of the nine firms will give the federal government a minority ownership stake in exchange for the funding. The finalization follows a letter of intent between IBM and the Commerce Department announced in May, and last week Rigetti Computing, D-Wave Quantum, and Quantinuum each finalized $100 million deals with the department. IBM stock fell 3.3% on Wednesday and has declined nearly 19% this year.
IONQ Inc
