01:18 PM EDT, 07/16/2025 (MT Newswires) -- (Updates with stock price movement in the headline and the first paragraph.)

Rigetti Computing ( RGTI ) shares were up nearly 30% in recent Wednesday trading after the company said it reached its midyear goal by achieving 99.5% median two-qubit gate fidelity on its new 36-qubit system, effectively halving the error rate for two-qubit operations compared with its earlier 84-qubit Ankaa-3 chip system.

The new system uses four 9-qubit chips, called chiplets, and enables the company to build a larger system with over 100 qubits, Rigetti said.

Rigetti said it plans to launch its new 36-qubit system on Aug. 15, and remains on track to release its 100+ qubit chiplet-based system before the end of 2025.

Price: 16.52, Change: +3.80, Percent Change: +29.83