Rigetti Computing announced a new $8.4 million order from India’s Centre for Development of Advanced Computing (C‑DAC) for a 108‑qubit quantum computer that will be installed on‑premises at C‑DAC’s Bengaluru center and scheduled for deployment in the second half of 2026.
The order marks a strategic expansion into India, a country that is investing heavily in quantum technology through its National Quantum Mission. It also validates Rigetti’s chiplet‑based architecture, which the company claims offers modularity and scalability that can be tailored to a national supercomputing environment. The deal builds on a memorandum of understanding signed in September 2025 and positions Rigetti as the first private‑sector supplier of a full‑stack quantum system to a government research center.
Rigetti’s financial picture remains challenging. Revenue for the last twelve months fell to $7.49 million, down from $10.79 million in 2024, and gross margin contracted from 51% in Q3 2025 to 21% in the same period. The decline is driven by a mix of low‑volume contracts, a shift toward lower‑margin strategic deals, and delays in government funding that have compressed the company’s revenue mix. Despite these headwinds, Rigetti’s balance sheet is strong, with roughly $600 million in cash and no debt, giving the company runway to invest in research and development while it scales its technology.
CEO Dr. Subodh Kulkarni said, “C‑DAC’s selection of our 108‑qubit system demonstrates confidence in our open, modular architecture and our ability to support hybrid classical‑quantum research. This partnership underscores the growing demand for on‑premises quantum computers as governments prioritize quantum‑enabled supercomputing.” The quote highlights the strategic importance of the deal and the company’s focus on serving high‑impact research environments.
The order comes at a time when Rigetti faces intense competition from larger technology firms and other quantum startups, and execution risk remains a concern as the company works to deliver a complex, high‑qubit system on schedule. Nevertheless, the strong cash position and the partnership with a major national research center provide a tailwind that could help the company navigate short‑term financial pressures while it continues to develop its next‑generation quantum hardware.
In summary, the $8.4 million order is a meaningful milestone that expands Rigetti’s presence in a key market and validates its technology, but the company’s broader financial challenges and competitive landscape suggest that the deal is a positive but not transformative event for its overall trajectory.
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