Sunday, May 24, 2026

Rigetti Secures $100M in CHIPS Act Funding—Quantum Jobs Boost

Rigetti Computing's stock skyrocketed this week after the company announced it signed a letter of intent with the U.S. Department of Commerce for up to $100 million in R&D funding over three years. This award is part of the U.S. CHIPS and Science Act, a broader government initiative to accelerate quantum development. The federal program, announced by the National Institute of Standards and Technology, includes plans to award up to $2 billion in grants to nine quantum firms. In exchange for the funding, the government will take a minority, non-controlling equity stake in the companies. Other firms set to receive funding include Colorado-based Atom Computing, Infleqtion, and Quantinuum, who will each get $100 million to scale production.

What This Means for Quantum Careers

This $100 million infusion will directly fuel Rigetti's R&D efforts, creating an immediate need to scale teams in quantum hardware development, research, and engineering. The government's decision to take an equity stake is being hailed by industry CEOs as a "validating" moment that proves quantum is no longer speculative. This government backing provides stability that makes careers in the field more secure and attractive. Expect a significant increase in hiring for physicists, quantum engineers, and software developers at Rigetti and the other funded firms as they deploy this capital to boost the foundational elements of quantum computing and scale for the future.