Rigetti Computing Inc (RGTI) 2024 Q3 法說會逐字稿

Good day.

再會。

Thank you for standing by.

謝謝你的支持。

Welcome to Rigetti's Third Quarter 2024 Earnings Conference Call.

歡迎參加 Rigetti 2024 年第三季財報電話會議。

(Operator Instructions) Please note that today's conference is being recorded.

（操作員指示）請注意，今天的會議正在錄製中。

I will now hand the conference over to your speaker, Dr.

我現在將會議交給您的發言人 Dr.

Subodh Kulkarni, President and CEO.

蘇博德·庫爾卡尼，總裁兼執行長。

Please go ahead, sir.

請繼續，先生。

Good morning, and thank you for participating in Rigetti's earnings conference call covering the third quarter ended September 30, 2024.

早安，感謝您參加 Rigetti 的財報電話會議，該電話會議涵蓋截至 2024 年 9 月 30 日的第三季。

Joining me today is Jeff Bertelsen, our CFO, who will review our results in some detail following my overview.

今天加入我的是我們的財務長 Jeff Bertelsen，他將在我的概述之後詳細審查我們的結果。

We will be pleased to answer your questions at the conclusion of our remarks.

我們很樂意在發言結束時回答您的問題。

We would like to point out that this call and Rigetti's third quarter ended September 30, 2024, press release contains forward-looking statements regarding current expectations, objectives and underlying assumptions regarding our outlook and future operating results.

我們想指出的是，本次電話會議和 Rigetti 截至 2024 年 9 月 30 日的第三季新聞稿包含有關我們的前景和未來經營業績的當前預期、目標和基本假設的前瞻性陳述。

These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described and are discussed in more detail in our Form 10-K for the year ended December 31, 2023, our Form 10-Q for the 3 and 9 months ended September 30, 2024, and other documents filed by the company from time to time with the Securities and Exchange Commission.

這些前瞻性陳述受到許多風險和不確定性的影響，可能導致實際結果與描述的結果有重大差異，並在我們截至2023 年12 月31 日的年度的10-K 表格、我們的10-K 表格中進行了更詳細的討論。

These filings identify and address important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements.

這些文件確定並解決了可能導致實際事件和結果與前瞻性陳述中包含的內容有重大差異的重要風險和不確定性。

We urge you to review these discussions of risk factors.

我們敦促您回顧這些有關風險因素的討論。

Today, I'm pleased to provide an update and report on our progress at Rigetti Computing.

今天，我很高興提供有關 RigettiComputing 進展的最新情況和報告。

I'm excited to announce that we plan to introduce a new modular system architecture at Rigetti.

我很高興地宣布，我們計劃在 Rigetti 引入新的模組化系統架構。

By midyear 2025, we expect to release a 36-qubit system based on four 9-qubit chips tiled together with a targeted 99.5% median 2-qubit gate fidelity.

到 2025 年年中，我們預計將發布基於四個 9 量子位元晶片拼接在一起的 36 量子位元系統，目標中位數 2 量子位元閘保真度為 99.5%。

By the end of 2025, we expect to release a system with over 100 qubits with a targeted 99.5% median 2-qubit gate fidelity.

到 2025 年底，我們預計將發布一個具有超過 100 個量子位元的系統，目標中位數 2 量子位元閘保真度為 99.5%。

We plan to develop the 336-qubit Lyra system thereafter.

我們計劃此後開發 336 量子位元的 Lyra 系統。

Rigetti remains on track to develop and deploy its anticipated 84-qubit Ankaa-3 system with the goal of achieving a 99-plus percent median 2-qubit gate fidelity by the end of 2024.

Rigetti 仍有望開發和部署其預期的 84 量子位元 Ankaa-3 系統，目標是到 2024 年底實現 99% 以上的中位數 2 量子位閘保真度。

We believe superconducting qubits have many advantages over other qubit modalities, including that they are fabricated using well-established semiconductor design and manufacturing techniques.

我們相信超導量子位元比其他量子位元模式具有許多優勢，包括它們是使用成熟的半導體設計和製造技術製造的。

Superconducting qubits also perform faster gate operations than other qubit modalities.

超導量子位元也比其他量子位元模式執行更快的閘操作。

Our system gate speeds consistently achieve an active duration of 60 to 80 nanoseconds, which is four orders of magnitude faster than other modalities such as ion traps and pure atoms.

我們的系統門速度始終達到 60 至 80 奈秒的活動持續時間，這比離子陷阱和純原子等其他模式快四個數量級。

System speed is an important factor to enable hybrid computing with current CPUs and GPUs.

系統速度是使用當前 CPU 和 GPU 實現混合運算的重要因素。

After spending years optimizing the performance of our larger scale 84-qubit Ankaa chips and honing our multichip scaling technology, we are manufacturing 9-qubit chips at 99.4% median 2-qubit gate fidelity.

經過多年優化更大規模 84 量子位元 Ankaa 晶片的性能並磨練我們的多晶片擴展技術後，我們正在製造 9 量子位元晶片，其 2 量子位元閘保真度中位數為 99.4%。

And in Q3 of this year, we demonstrated tiling of 9-qubit chips without deterioration in performance.

今年第三季度，我們展示了 9 量子位元晶片的平鋪，而效能沒有惡化。

We believe the anticipated four-chip 36-qubit system will be the most ambitious multichip QPUs architecture in the market and a significant milestone for the company and the quantum computing industry.

我們相信，預期的四晶片 36 量子位元系統將成為市場上最雄心勃勃的多晶片 QPU 架構，也是公司和量子運算產業的重要里程碑。

Our approach to scalability mirroring multichip architectures for advanced applications with CMOS is supported by our recently announced Alternating-Bias Assisted Annealing or ABAA technique for precisely targeted qubit frequencies.

我們最近宣布的交替偏壓輔助退火或 ABAA 技術支援我們針對 CMOS 高階應用鏡像多晶片架構的可擴展性方法，以實現精確定位的量子位元頻率。

ABAA allows us to consistently manufacture high-performance QPUs with the frequency precision necessary for high fidelities.

ABAA 使我們能夠始終如一地製造具有高保真度所需的頻率精度的高性能 QPU。

The combination of our ABAA technique and a multi-chip architecture is the cornerstone of our scaling strategy as we move into developing higher qubit count systems.

隨著我們開始開發更高的量子位元數系統，我們的 ABAA 技術和多晶片架構的結合是我們擴展策略的基石。

In addition, quantum error correction will be essential to achieve the accuracy needed for quantum computers to realize their full potential.

此外，量子糾錯對於實現量子電腦充分發揮其潛力所需的精確度至關重要。

Together with Riverlane, we are working to advance our understanding of how to build fault-tolerant quantum computers using quantum error correction technology.

我們與 Riverlane 一起致力於加深對如何使用量子糾錯技術建立容錯量子電腦的理解。

Recently, we published a paper with Riverlane that demonstrates how integrating Riverlane's quantum error decoder into the control system of our 84-qubit Ankaa-2 system enabled the achievement of real-time low-latency quantum error correction, a critical process for developing fault-tolerant quantum computers.

最近，我們與Riverlane 合作發表了一篇論文，示範如何將Riverlane 的量子錯誤解碼器整合到我們的84 量子位元Ankaa-2 系統的控制系統中，從而實現即時低延遲量子糾錯，這是開發故障的關鍵過程。

We believe that our 9-qubit Novera QPU is ideal for experimentation across a variety of research areas, including qubit characterization and hybrid quantum algorithms.

我們相信，我們的 9 量子位元 Novera QPU 非常適合各種研究領域的實驗，包括量子位元表徵和混合量子演算法。

We are excited to share that a Novera QPU has been co-located at the Israeli Quantum Computing Center, IQCC, with Quantum Machines' OPX1000 control system and NVIDIA's Grace-Hopper superchip servers, which was made available to partners for research and experimentation.

我們很高興地告訴大家，Novera QPU 已與 Quantum Machines 的 OPX1000 控制系統和 NVIDIA 的 Grace-Hopper 超級晶片伺服器一起位於以色列量子計算中心 IQCC，可供合作夥伴進行研究和實驗。

The setup was recently leveraged for a reinforcement learning project, which was presented at IEEE Quantum Week 2024 in September.

該設定最近被用於強化學習項目，該項目在 9 月的 IEEE 量子週 2024 上展示。

The demonstration entailed optimizing single qubit operations on the Novera QPU and is an exciting use case for using a Novera QPU for quantum machine learning development.

該演示需要優化 Novera QPU 上的單量子位元操作，是使用 Novera QPU 進行量子機器學習開發的令人興奮的用例。

Finally, the U.K.'s National Quantum Computing Center, or NQCC, officially opened the doors of its landmark facility on Harwell Campus on October 25, 2024.

最後，英國國家量子計算中心 (NQCC) 於 2024 年 10 月 25 日在哈韋爾校區正式開放其標誌性設施。

The facility will support world-class quantum computing research and provide state-of-the-art laboratories for designing, building and testing quantum computers.

該設施將支援世界一流的量子計算研究，並為設計、建造和測試量子電腦提供最先進的實驗室。

The state-of-the-art facility includes our fully operational 24-qubit Ankaa-class system that will be made available to NQCC researchers for testing, benchmarking and exploratory applications development.

最先進的設施包括我們全面運作的 24 量子位元 Ankaa 級系統，該系統將可供 NQCC 研究人員進行測試、基準測試和探索性應用程式開發。

In summary, I'm excited about our 2025 road map and progress on the technology front.

總之，我對我們的 2025 年路線圖和技術的進展感到興奮。

We believe the combination of our ABAA technique and a multichip architecture will serve as the cornerstone of our scaling strategy as we move into developing higher qubit count systems with improved fidelities.

我們相信，隨著我們開始開發更高保真度的更高量子位元計數系統，ABAA 技術和多晶片架構的結合將成為我們擴展策略的基石。

Thank you.

謝謝。

Jeff will now make a few remarks regarding our recent financial performance.

傑夫現在將就我們最近的財務業績發表一些評論。

Thanks, Subodh.

謝謝，蘇博德。

Revenues in the third quarter of 2024 were $2.4 million compared to $3.1 million in the third quarter of 2023.

2024 年第三季的營收為 240 萬美元，而 2023 年第三季的營收為 310 萬美元。

Revenue is an important part of our strategy to fund our ongoing research initiatives.

收入是我們為正在進行的研究計劃提供資金的策略的重要組成部分。

We have added to our sales and marketing staff and have expanded our lobbying efforts to help grow our revenue in the future.

我們增加了銷售和行銷人員，並加大了遊說力度，以幫助我們未來增加收入。

Gross margins in the third quarter of 2024 came in at 51% compared to 73% in the third quarter of 2023.

2024 年第三季的毛利率為 51%，而 2023 年第三季的毛利率為 73%。

Revenue and gross margin variability is to be expected at this stage of the company's evolution, given the variable nature of our contract deliverables and timing with major government agencies.

鑑於我們與主要政府機構的合約交付內容和時間表的可變性，在公司發展的現階段，預計收入和毛利率將發生變化。

In addition, our recent contract to deliver a 24-qubit quantum system has a lower gross margin profile than most of our other revenue.

此外，我們最近提供 24 量子位元量子系統的合約的毛利率低於我們大多數其他收入。

On the expense side, total OpEx in the third quarter of 2024 was $18.6 million, compared to $19.1 million in the same period of the prior year.

在費用方面，2024 年第三季的總營運支出為 1,860 萬美元，而去年同期為 1,910 萬美元。

The year-over-year decrease in total OpEx was primarily driven by $1.1 million of expense recognized in the third quarter of 2023 for the Ampere Forward agreement, which expired in October 2023.

營運支出總額較去年同期下降的主要原因是 2023 年第三季為 Ampere Forward 協議確認的 110 萬美元費用，該協議於 2023 年 10 月到期。

Stock compensation expense for the third quarter of 2024 was $3.4 million compared to $3.7 million for the third quarter of 2023.

2024 年第三季的股票補償費用為 340 萬美元，而 2023 年第三季為 370 萬美元。

Net loss for the third quarter of 2024 was $14.8 million or $0.08 per share compared to a net loss of $22.2 million or $0.17 per share for the third quarter of 2023.

2024 年第三季的淨虧損為 1,480 萬美元，即每股 0.08 美元，而 2023 年第三季的淨虧損為 2,220 萬美元，即每股 0.17 美元。

The noncash change in the fair value of derivative warrant and earn-out liabilities favorably impacted our net loss for the third quarter of 2024 by $2 million compared to a negative impact of $5.2 million in the comparable prior year period.

衍生權證和盈餘負債公允價值的非現金變動對我們 2024 年第三季的淨虧損產生了 200 萬美元的有利影響，而去年同期的負面影響為 520 萬美元。

Cash, cash equivalents and available-for-sale investments totaled $92.6 million as of September 30, 2024.

截至 2024 年 9 月 30 日，現金、現金等價物及可供出售投資總額為 9,260 萬美元。

During the third quarter of 2024, we raised $12 million from the sale of 11.3 million common shares under our current ATM program.

2024 年第三季度，我們根據目前 ATM 計劃出售 1,130 萬股普通股，籌集了 1,200 萬美元。

As of September 30, 2024, up to 60.2 million of common stock remains available for sale under our current ATM program.

截至 2024 年 9 月 30 日，根據我們目前的 ATM 計劃，仍有多達 6,020 萬股普通股可供出售。

As disclosed in today's 10-Q filing, we believe that our existing balances of cash, cash equivalents and marketable securities should be sufficient to meet our anticipated operating cash needs until midway through the first quarter of 2026 based on our current business plan and expectations and assumptions considering current macroeconomic conditions.

正如今天的10-Q 文件中所揭露的，我們認為，根據我們目前的業務計劃和預期，我們現有的現金、現金等價物和有價證券餘額應足以滿足我們在2026 年第一季中期之前的預期營運現金需求。

Thank you.

謝謝。

We would now be happy to answer your questions.

我們現在很樂意回答您的問題。

(Operator instructions)

（操作員說明）

David Williams, The Benchmark Company.

大衛威廉斯，基準公司。

First, I guess, congratulations to you and the team on all the continued progress.

首先，我想，恭喜您和團隊的持續進展。

And Subodh, it sounds like you have increased confidence here in the road map and just the ability to achieve the targeted fidelities while continuing to drive that qubit scale count.

Subodh，聽起來您對路線圖以及在繼續推動量子位元規模計數的同時實現目標保真度的能力增加了信心。

But I guess I'm curious.

但我想我很好奇。

Has anything changed in the way that you're thinking about the road map and maybe the strategy?

您對路線圖和策略的思考方式有什麼改變嗎？

And it feels like just maybe some of the progress, especially on the tiling, is moving at a really nice clip here.

感覺可能只是一些進展，尤其是在瓷磚方面，正在以非常好的速度進展。

So just anything that you think is outpacing the cadence that you thought you -- that you anticipated maybe earlier?

那麼，任何你認為超過了你認為的節奏的事情——你可能更早預期的節奏？

Yes, indeed, as you correctly said, our confidence in our road map is increasing as we disclosed.

是的，確實，正如您所說，正如我們所披露的那樣，我們對路線圖的信心正在增強。

We are making very high-quality 9-qubit chips with median 1-qubit gate fidelity of 99.9%, 2-qubit gate fidelity of 99.4%.

我們正在製造非常高品質的 9 量子位元晶片，其中 1 量子位元閘保真度中位數為 99.9%，2 量子位元閘保真度中位數為 99.4%。

We have high confidence we will drive those numbers up going forward.

我們非常有信心未來將推動這些數字的上升。

And we have demonstrated now that we can tile 9-qubit chips without any deterioration in performance.

我們現在已經證明，我們可以平鋪 9 量子位元晶片，而不會降低效能。

And that continues to be at extremely high gate speeds, as you saw, 60 to 80 nanoseconds.

正如您所看到的，這仍然是在極高的門速度下，60 到 80 奈秒。

So we have pretty high confidence that we can start tiling 9 qubits.

因此，我們非常有信心能夠開始平鋪 9 個量子位元。

And that's why we said we will tile four 9-qubit chips to get us 36 qubit with incredible gate speeds and fidelities in the mid-99s by the middle to end of next year.

這就是為什麼我們說，到明年年中到年底，我們將在 99 年代中期將四個 9 量子位元晶片拼接起來，以獲得具有令人難以置信的閘速度和保真度的 36 量子位元。

And we'll continue thereafter to deliver the 100-qubit along with 9-qubit tiling plan and then eventually the Lyra, the 336-qubit.

此後我們將繼續提供 100 量子位元和 9 量子位元平鋪計劃，然後最終提供 336 量子位元 Lyra。

So overall, our confidence is pretty good that we will be able to execute this road map.

總的來說，我們對執行該路線圖充滿信心。

Our confidence in superconducting continues to be very high, particularly because of the high gate speeds.

我們對超導仍然充滿信心，特別是因為門速度很高。

We still think superconducting is the only way to really have hybrid computing that can coexist with CPUs and GPUs compared to other modalities where the speeds become a real detriment.

我們仍然認為，與其他模式相比，超導是真正實現與 CPU 和 GPU 共存的混合運算的唯一方法，而其他模式的速度會成為真正的損害。

So overall, we feel pretty good about our road map and execution along that line.

總的來說，我們對我們的路線圖和沿著這條線的執行感覺非常好。

Fantastic.

極好的。

Great to hear.

很高興聽到。

I guess on the other side, you had mentioned, again, the tiling of the 9-qubit chips and no performance deterioration.

我想另一方面，您再次提到了 9 量子位元晶片的平鋪並且性能沒有下降。

But were there any other metrics that were perhaps better than expected or other areas where you see further improvement is needed perhaps?

但是是否有其他指標可能比預期更好，或者您認為其他方面可能需要進一步改進？

Well, certainly, we are learning tiling chips.

嗯，當然，我們正在學習瓷磚晶片。

We have just -- we did our first tiling work a couple of years ago with 40-qubit chips.

幾年前，我們剛用 40 量子位元晶片完成了第一個平鋪工作。

But at that time, the fidelities were indeed much lower.

但當時的保真度確實低很多。

Now we are dealing with mid-99s for fidelity with the 9-qubit chips.

現在我們正在處理 99 年代中期的 9 量子位元晶片的保真度。

So it was important.

所以這很重要。

We demonstrated again that we can tile chips at this high-fidelity levels without losing any fidelity.

我們再次證明，我們可以在這種高保真度水平上平鋪晶片，而不會損失任何保真度。

What is fascinating to me is that you can tile chips across and have signals communicate across interposers and still maintain entanglement, and all the critical metrics that we care about, fidelity, gate speeds and other secondary metrics as well.

讓我著迷的是，您可以平鋪晶片並讓訊號通過中介層進行通信，並且仍然保持糾纏，以及我們關心的所有關鍵指標，保真度，門速度和其他次要指標。

So overall, it indeed does work, and we feel pretty good that's the right way to go about scaling.

總的來說，它確實有效，而且我們感覺很好，這是進行擴展的正確方法。

The beauty of tiling chips is -- fundamentally, we are taking advantage of the chiplet technology that has been pioneered by the CMOS industry.

平鋪晶片的優點在於，從根本上來說，我們正在利用 CMOS 業界首創的小晶片技術。

So we definitely get a huge leverage from the CMOS industry and all the work that they have done in tiling CMOS chips.

因此，我們肯定從 CMOS 行業以及他們在平鋪 CMOS 晶片方面所做的所有工作中獲得了巨大的影響力。

Certainly, it puts some higher pressure on packaging and testing and measurement, but that work has already been done by the CMOS industry.

當然，這給封裝和測試測量帶來了更大的壓力，但這項工作已經由 CMOS 行業完成了。

So we can leverage all that work very nicely.

所以我們可以很好地利用所有這些工作。

So we feel really good about tiling chips.

所以我們對瓷磚晶片感覺非常好。

Great.

偉大的。

And maybe just one more, if you don't mind.

如果您不介意的話，也許還可以再多一份。

But I just wanted to ask on the government funding opportunity.

但我只是想問政府資助的機會。

I thought it was interesting you had talked about maybe spending a little more money there on lobbying efforts as we know one of your peers has done.

我認為有趣的是，您談到可能會在遊說工作上多花一點錢，正如我們知道您的一位同行所做的那樣。

But how do you think about maybe the areas of opportunity for funding?

但您如何看待可能有融資機會的領域？

Is there anything out there that you see today that you got a good shot at?

你今天看到的東西有什麼東西是你能很好地完成的嗎？

Or anything -- maybe just any updates around the government funding.

或者任何事情——也許只是有關政府資助的任何更新。

Sure.

當然。

So certainly, we look at the US government as the main place to fund our work.

因此，我們當然將美國政府視為資助我們工作的主要場所。

NQI -- the original NQI Act signed in 2018 has expired.

NQI－2018 年簽署的原 NQI 法案已過期。

NQI reauthorization hasn't been signed yet, and that certainly has impacted our near-term financials, including Q3 and for the next quarter or two until the NQI reauthorization is signed.

NQI 重新授權尚未簽署，這肯定會影響我們的近期財務狀況，包括第三季以及 NQI 重新授權簽署之前的下一兩個季度。

But we are pretty confident there's bipartisan support for the NQI reauthorization to get signed, and it will be signed as soon as the new administration is in place.

但我們非常有信心兩黨都支持簽署 NQI 重新授權，並且新政府就職後將立即簽署。

Regarding other -- DoD has some special projects.

關於其他－國防部有一些特殊項目。

There's the DARPA project, a fairly sizable, almost $300 million over seven years that we are trying to get part of that award.

DARPA 計畫規模相當大，七年內耗資近 3 億美元，我們正努力獲得該獎項的一部分。

And there are other opportunities, too.

還有其他機會。

But you are right, there are multiple opportunities between DOE and DoD.

但你是對的，能源部和國防部之間有許多機會。

And we are spending more time and effort, including some lobbying effort to try to get some of that money.

我們正在花費更多的時間和精力，包括一些遊說努力，試圖獲得一些資金。

Quinn Bolton, Needham & Company.

奎因·博爾頓，李約瑟公司。

Subodh and Jeff, I wanted to follow up on David's question just on sort of the, I guess, change in road map to now focus near term more on tiling than kind of moving to larger single-chip qubit processors.

Subodh 和 Jeff，我想跟進 David 的問題，我猜想，路線圖現在會更專注於平鋪，而不是轉向更大的單晶片量子位元處理器。

I guess what's -- where do you see sort of the balance between single-chip processors and the number of tiles ultimately you might put in a system based on the work you've done?

我想，根據您所做的工作，您在哪裡看到單晶片處理器和最終可能放入系統中的區塊數量之間的平衡？

Do you think you'll -- as you look forward to 100-qubit to 1,000-plus qubit systems, will larger tiles become important?

當您期待 100 個量子位元到 1,000 多個量子位元系統時，您認為更大的區塊會變得重要嗎？

Or do you now think that you could tile 16 or 25 of these lower qubit processors and that might be a more efficient way to maintain gate speed and fidelity as you scale qubit count?

或者您現在是否認為可以平鋪 16 或 25 個這些較低的量子位元處理器，這可能是在擴展量子位元數量時保持閘速和保真度的更有效方法？

That's a good question.

這是個好問題。

We are not completely sure exactly what the optimal size of the qubit count is at which you should tile.

我們並不完全確定您應該平舖的量子位元計數的最佳大小是多少。

I mean we certainly are choosing 9-qubit right now because we have a very good 9-qubit high-fidelity chip ready.

我的意思是，我們現在肯定會選擇 9 量子位，因為我們已經準備好了非常好的 9 量子位元高保真晶片。

We'll certainly explore other qubit counts to look at tiling as well over time.

隨著時間的推移，我們肯定會探索其他量子位元計數來觀察平鋪。

But right now, there's no reason not to tile 9-qubit chips.

但現在，沒有理由不平鋪 9 量子位元晶片。

We are seeing good results.

我們看到了良好的結果。

And our 9-qubit chip is basically 6 millimeter by 6 millimeter.

我們的 9 量子位元晶片基本上是 6 毫米 x 6 毫米。

So you can do the math and say that even at the current density, areal density, we can get tens of thousands of qubits, even hundreds of thousands of qubits in a practical dimension of like 15 centimeter by 15 centimeter.

所以你可以計算一下，即使在目前密度、面密度下，我們也可以在 15 公分 x 15 公分的實際尺寸中獲得數萬個量子位，甚至數十萬個量子位元。

And that can fit into a dilution refrigerator fairly easily.

這可以輕鬆裝入稀釋冰箱中。

So we feel pretty good that even 9-qubit tiling can take us quite high.

所以我們感覺很好，即使是 9 量子位元平鋪也能讓我們走得很高。

Certainly, if we increase the areal density by a factor of 4, which is not that difficult to do, we can squeeze in a lot more.

當然，如果我們將面密度增加 4 倍（這並不難做到），我們​​就可以擠更多。

So that's why we decided to start tiling 9.

這就是為什麼我們決定開始平鋪 9。

But over time, if we find that there's a better optimal number where we can tile qubits, we will certainly take a look at that.

但隨著時間的推移，如果我們發現有更好的最佳數量可以平鋪量子位，我們肯定會考慮這一點。

As I mentioned earlier, I mean, we certainly get the higher qubit count when we tile the chips.

正如我之前提到的，我的意思是，當我們平鋪晶片時，我們肯定會獲得更高的量子位元數。

We haven't really seen any loss in any kind of critical metrics, fidelity or any of the secondary or tertiary metrics that we monitor.

我們還沒有真正看到任何類型的關鍵指標、保真度或我們監控的任何二級或三級指標有任何損​​失。

So no reason not to tile it.

所以沒有理由不鋪磁磚。

This is the right way to do it.

這是正確的做法。

It's the only truly scalable way.

這是唯一真正可擴展的方式。

I mean, certainly, we ourselves are increasing the qubit count on a bigger chip.

我的意思是，當然，我們自己正在增加更大晶片上的量子位元數量。

Some of our competitors are doing that as well.

我們的一些競爭對手也在這樣做。

And it's not trivial to keep building a bigger and bigger chip and maintain the quality across the whole chip.

不斷製造越來越大的晶片並保持整個晶片的品質並不是一件容易的事。

The huge advantage, and that's why the CMOS industry has standardized around the chiplet technology, is you can literally make thousands and tens of thousands of these small qubit chips at a high yield and then you can pick and choose the best of those chips and tile them together.

巨大的優勢，也是 CMOS 行業圍繞小晶片技術進行標準化的原因，是你可以以高產量製造成千上萬個這樣的小型量子位元晶片，然後你可以挑選最好的這些晶片並進行拼貼。在一起。

That's exactly what's going on in the CMOS industry day in and day out.

這正是 CMOS 產業日復一日發生的事情。

So the 3-nanometer and 5-nanometer CMOS nodes which are harder to make, they choose a smaller tile size for exactly the same reason why we are choosing 9-qubit.

因此，3 奈米和 5 奈米 CMOS 節點更難製造，它們選擇更小的瓦片尺寸，這與我們選擇 9 量子位元的原因完全相同。

So we are essentially leveraging what the CMOS industry has learned over the years and we plan to take advantage of that.

因此，我們本質上是在利用 CMOS 行業多年來所學到的知識，並且我們計劃利用它。

Hopefully, that answers your question.

希望這能回答你的問題。

Yes.

是的。

No, I appreciate the color.

不，我很欣賞這個顏色。

It sounds like tiling has certainly increased in terms of its importance in your road map looking forward.

聽起來平鋪在您未來的路線圖中的重要性肯定有所增加。

So I appreciate those comments.

所以我很欣賞這些評論。

I guess the second question is, you've had your sight set on a 99.5% qubit fidelity now for some time.

我想第二個問題是，你已經把目光投向了 99.5% 的量子位元保真度一段時間了。

How much higher above 99.5% do you think you need to get qubit fidelity?

您認為需要比 99.5% 高多少才能獲得量子位元保真度？

Or when perhaps, more importantly, do you start to pivot to quantum error correction?

或者，更重要的是，你什麼時候開始轉向量子糾錯？

You had the announcement with Riverlane on quantum error correction this quarter.

你們在本季與 Riverlane 宣布了有關量子糾錯的公告。

And so once you get 99.5%, do you start to pivot, especially as the qubit counts go up on your multi-tile approach?

因此，一旦達到 99.5%，您是否開始進行調整，尤其是當量子位元計數在您的多塊方法中增加時？

Do you start to then focus more attention on quantum error correction?

您是否開始更加關注量子糾錯？

Or when do you think quantum error correction starts to play a bigger role in your road map?

或者您認為量子糾錯什麼時候開始在您的路線圖中發揮更大的作用？

Well, it's already starting to show up as we announced with Reverlane.

嗯，正如我們與 Reverlane 所宣布的那樣，它已經開始出現。

I mean, our 9-qubit is at 99.4% right now, and that's a good place to start doing error correction, which is why we are working with Reverlane right now.

我的意思是，我們的 9 量子位元現在處於 99.4%，這是開始進行糾錯的好地方，這就是我們現在與 Reverlane 合作的原因。

And we are showing some pretty good proof of concept of how error correction works in real time at the gate speeds we are running at.

我們正在展示一些非常好的概念證明，說明糾錯如何在我們運行的門速度下即時工作。

Certainly, we will continue to push fidelity.

當然，我們將繼續推動保真度。

There's never an end to what is the limit for fidelity.

保真度的極限永遠沒有盡頭。

I mean, as you know, CMOS industry right now is between four 9s to six 9s, sometimes even higher fidelity.

我的意思是，如您所知，CMOS 行業現在處於四個 9 到六個 9 之間，有時甚至更高的保真度。

But they continue to improve it.

但他們仍在繼續改進它。

And that's the way semiconductor industry is.

半導體產業就是這樣。

And we will go the same route.

我們也會走同樣的路。

I mean, right now, we are effectively two 9s, beginning to approach three 9s.

我的意思是，現在我們實際上是兩個 9，開始接近三個 9。

That's where we are collectively in the superconducting side.

這就是我們在超導方面的共同點。

But that's not going to stop.

但這不會停止。

I mean, once we reach three 9s in the next three to five years, we will go for the four 9s and so on.

我的意思是，一旦我們在未來三到五年內達到三個 9，我們將爭取四個 9，依此類推。

But to answer your question, in the mid-two 9s, which is 99.5%, let's say, error correction starts becoming reasonable.

但要回答你的問題，在兩個 9 的中間，也就是 99.5%，比如說，糾錯開始變得合理。

You can start getting value out of your system from a practical standpoint.

您可以從實際的角度開始從系統中獲取價值。

And we think -- that's why we think narrow quantum advantage, which we define as taking practical applications and demonstrating superiority in performance or cost is achievable in the next year or two years with a couple of hundred qubits with the mid-99s type fidelity and error correction.

我們認為，這就是為什麼我們認為窄量子優勢，我們將其定義為採用實際應用並展示性能或成本優勢，在未來一兩年內可以通過數百個具有 99s 類型保真度的量子位來實現，糾錯。

So error correction is -- bottom line, error correction is already starting to play a role in the mid-99s.

所以糾錯是——最重要的是，糾錯已經在 99 年代中期開始發揮作用。

And certainly, as we increase fidelity, it becomes more and more important.

當然，隨著我們提高保真度，它變得越來越重要。

So it's already here and now.

所以它已經在此時此地了。

Got it.

知道了。

And then a quick one for Jeff.

然後是傑夫的快速發言。

You mentioned the NQCC contract being a lower margin contract for you.

您提到 NQCC 合約對您而言是保證金較低的合約。

Now that the 24-bit QPU has been installed at the NQCC, is that contract largely over and that gross margin overhang kind of now in the rearview mirror?

既然 24 位元 QPU 已安裝在 NQCC，那麼該合約是否已基本結束，毛利率懸而未決的情況現在已經成為過去嗎？

Or are there still revenue to be collected under that NQCC contract that we should just be thinking about as we model gross margin over the next couple of quarters?

或者，我們在對未來幾季的毛利率進行建模時，是否應該考慮根據 NQCC 合約收取的收入？

Jeff, you want to answer the question?

傑夫，你想回答這個問題嗎？

I don't know why Jeff is having a problem with his audio stream.

我不知道為什麼傑夫的音訊串流有問題。

But to answer your question, we expect NQCC contract to continue through the first quarter of 2025.

但為了回答你的問題，我們預計 NQCC 合約將持續到 2025 年第一季。

And at that point, the NQCC current contract will end.

屆時，NQCC 目前合約將終止。

We are working on a new contract with them, but the terms of that have not been decided yet.

我們正在與他們簽訂新合同，但條款尚未確定。

So the current gross margin challenge will continue through Q1 2025 with NQCC.

因此，NQCC 目前的毛利率挑戰將持續到 2025 年第一季。

And our next question coming from the line of Krish Sankar with TD Cowen.

我們的下一個問題來自 Krish Sankar 和 TD Cowen。

This is [Stephen] calling on behalf of Krish.

這是[史蒂芬]代表克里什打來的電話。

Subodh, maybe if I could ask a couple of more questions on the quantum error correction front.

Subodh，也許我可以再問幾個關於量子糾錯方面的問題。

In terms of the announced progress with Riverlane during the quarter, just kind of curious what's the next major development milestones might be in terms of collaboration with Riverlane?

就本季與 Riverlane 宣布的進展而言，我有點好奇與 Riverlane 合作的下一個主要開發里程碑是什麼？

And also kind of related to error correction, the work that NVIDIA and Quantum Machines are showcasing with your system at, I think, some of the research that they published and also the system that's now installed at the Israeli Quantum Compute Center, just kind of curious like for that work, does that tie in tightly with the work you're doing with Riverlane?

也與糾錯有關，我認為 NVIDIA 和量子機器在您的系統上展示的工作，他們發表的一些研究以及現在安裝在以色列量子計算中心的系統，只是一種我很好奇這項工作，它與你在Riverlane 所做的工作緊密相關嗎？

Or is that related -- like parallel effort that ties in more to feeding back to your fundamental quantum devices?

或者這是否相關——就像並行的努力更多地與反饋到你的基本量子設備聯繫在一起？

And is how that tuning is performed to get better and more repeatable fidelity rates?

如何進行調整以獲得更好、更可重複的保真度？

Sure.

當然。

So yes, two separate questions here.

所以是的，這裡有兩個單獨的問題。

First, let me take the NVIDIA question.

首先，我來回答 NVIDIA 的問題。

So as you saw in our press release, we are collaborating with NVIDIA at the Israeli Quantum Computing Center.

正如您在我們的新聞稿中看到的，我們正在以色列量子計算中心與 NVIDIA 合作。

And really, the goal is to understand from a fundamental standpoint how a QPU interfaces with a CPU and GPU.

實際上，我們的目標是從基本角度理解 QPU 如何與 CPU 和 GPU 互動。

And the reason -- that work is extremely important for us as well as the whole industry, and really that highlights the importance of superconducting quantum computing.

原因是——這項工作對我們以及整個產業都極為重要，這確實凸顯了超導量子運算的重要性。

Because we are dealing with tens of nanoseconds gate speed, we can actually talk to modern-day CPU and GPU and keep up with the data flow.

因為我們處理的是數十納秒的門速度，所以我們實際上可以與現代 CPU 和 GPU 對話並跟上資料流。

Other modalities like trapped-ion and pure atoms, although they have the benefit of slightly higher fidelity than where we are right now, they are four orders of magnitude, that's 10,000x slower than where we are.

其他模式，如捕獲離子和純原子，儘管它們的保真度比我們現在的水平稍高，但它們的保真度卻高了四個數量級，比我們現在的速度慢了 10,000 倍。

So from a practical standpoint, it really is not possible for a trapped-ion or a pure atom quantum computer to stay in active communication loop with a CPU or a GPU.

因此，從實際角度來看，捕獲離子或純原子量子電腦實際上不可能與 CPU 或 GPU 保持活躍的通訊迴路。

And that's why the work that IQCC is doing along with NVIDIA GPUs, the Grace-Hopper GPU and our QPU is so important for everyone to understand the pros and cons of QPU versus GPU and how the data bifurcation should be done.

這就是為什麼 IQCC 與 NVIDIA GPU、Grace-Hopper GPU 和我們的 QPU 一起進行的工作對於每個人了解 QPU 與 GPU 的優缺點以及如何完成資料分叉如此重要。

So that work is critical long term.

因此，這項工作從長遠來看至關重要。

That's what hybrid computing is all about, and we are absolutely committed to doing that kind of work to understand how quantum computing fits into the broader data center hybrid computing ecosystem.

這就是混合運算的全部內容，我們絕對致力於進行此類工作，以了解量子運算如何融入更廣泛的資料中心混合運算生態系統。

So that's one.

這就是其中之一。

Regarding error correction, I mean, there's a lot of work to do.

關於糾錯，我的意思是，還有很多工作要做。

We are just getting started.

我們才剛開始。

If you look at the CMOS industry or just the classical semiconductor industry, there are -- there's been a lot of error correction work over the last couple of decades.

如果你看看 CMOS 產業或只是傳統的半導體產業，你會發現在過去的幾十年裡已經進行了大量的糾錯工作。

I don't want to simply put it in a couple of sentences here because you need to really go into the details of the -- right now, we are talking about in the CMOS industry seventh and eighth order error correction core, and there are various steps that happen to get to that level.

我不想在這裡簡單地用幾句話來說，因為您需要真正深入了解 - 現在，我們正在討論 CMOS 行業中的七階和八階糾錯核心，並且有達到該水平的各種步驟。

And I expect us -- in the quantum computing, there's yet another complication because we are dealing with coupling of qubits.

我預計，在量子計算中，還會出現另一個複雜情況，因為我們正在處理量子位元的耦合。

So it's not a simple situation where if there's a faulty CMOS transistor, you try it again and again.

所以這並不是一個簡單的情況，如果 CMOS 電晶體有故障，你就需要一次又一次地嘗試。

We have to do it with multiple couplings.

我們必須透過多個耦合來做到這一點。

And if one coupling is bad, it doesn't mean the same qubit coupling with other qubits may be bad.

如果一種耦合不好，並不代表同一量子位元與其他量子位元的耦合可能不好。

So it gets a little more complicated as to how you do quantum error correction.

因此，如何進行量子糾錯會變得更加複雜。

And that's why we are partnering with Riverlane, who's an expert in many of these areas.

這就是我們與 Riverlane 合作的原因，Riverlane 是許多這些領域的專家。

You can certainly take a look at their website and what they have disclosed already in terms of road map.

您當然可以查看他們的網站以及他們已經在路線圖方面披露的內容。

But there's a lot of work going on in the industry right now in quantum error correction and how it differs from classical error correction and what we need to be worried about and how the road map will evolve.

但目前業界在量子糾錯、它與經典糾錯有何不同、我們需要擔心什麼以及路線圖將如何發展方面正在進行大量工作。

From our standpoint, certainly, the better-quality hardware we can make, which is higher fidelity, faster gate speeds and other metrics, that only helps.

當然，從我們的角度來看，我們可以製造出品質更好的硬件，即更高的保真度、更快的門速度和其他指標，這只會有所幫助。

So we need to do our part correctly.

所以我們要正確地做好我們的本分。

But on the quantum error correction, they certainly need to take advantage of the hardware and to take full capabilities of the software layers that they do.

但在量子糾錯方面，他們當然需要利用硬體並充分利用他們所做的軟體層的功能。

I hope that answers your question.

我希望這能回答你的問題。

Yes, that does.

是的，確實如此。

And I guess for my follow-up, I just had a question for Jeff on the P&L in terms of operating expenses.

我想對於我的後續行動，我只是向傑夫提出了一個關於營運費用方面損益表的問題。

Just given the comments on higher sales and marketing spending, lobbying efforts and then also looking ahead to the development efforts on the 9-Q and 36-Q modular system for next year, any thoughts on whether we should be modeling for the quarterly OpEx to be closer to that $19 million to $20 million range?

剛剛考慮到更高的銷售和行銷支出、遊說工作以及對明年 9-Q 和 36-Q 模組化系統的開發工作的評論，對於我們是否應該對季度營運支出進行建模的任何想法接近1900 萬美元到2000 萬美元的範圍嗎？

Or could it be higher than $20 million per quarter for OpEx?

或者營運支出會高於每季 2000 萬美元？

I mean, I don't think we'll see a significant increase in OpEx.

我的意思是，我認為我們不會看到營運支出顯著增加。

Going forward, we are planning for a handful of new hires over the course of the next year.

展望未來，我們計劃在明年招募一些新員工。

And as we had noted, we are starting to spend some more on sales and marketing.

正如我們所指出的，我們開始在銷售和行銷方面投入更多資金。

But I don't think it will be significant or material.

但我認為這不會是重要的或實質的。

So I would expect our OpEx to remain in line or slightly higher than what we've seen in the most recent quarters.

因此，我預計我們的營運支出將保持一致或略高於最近幾季的水平。

Brian Kinstlinger, Alliance Global Partners.

Brian Kinstlinger，聯盟全球合作夥伴。

Subodh, if the incoming administration is successful in getting the quantum initiative reauthorization passed, does this lead to more government R&D procurements?

Subodh，如果即將上任的政府成功地通過了量子計畫的重新授權，這是否會導致更多的政府研發採購？

I guess I'm curious how Righetti might benefit in the short to medium term if this does pass.

我想我很好奇如果這確實通過的話，萊赫蒂在中短期內會如何受益。

I mean, absolutely, the NQI Reauthorization Act that is being debated in our Congress right now is critical for our funding in 2025 and the next few years.

我的意思是，我們國會目前正在討論的《NQI 重新授權法案》對於我們 2025 年及未來幾年的資助至關重要。

Right now, there are multiple versions.

目前，有多個版本。

The latest version, at least in the Senate, has a significant increase in quantum funding.

最新版本，至少在參議院，量子資金大幅增加。

The original NQI was $500 million over five years.

最初的 NQI 五年內價值 5 億美元。

The NQI reauthorization, at least right now, the number that is being discussed is almost 5x higher.

NQI重新授權，至少目前，正在討論的數字幾乎高出5倍。

So we are talking $2.5 billion over five years.

所以我們正在談論五年內 25 億美元。

So assuming the NQI reauthorization is passed at that level, certainly, it will help all quantum computing companies based in the US.

因此，假設 NQI 重新授權在該層級獲得通過，當然，這將有助於所有總部位於美國的量子計算公司。

And certainly, we expect funding that we receive from places like Fermilab and Oak Ridge National Lab will increase substantially.

當然，我們預計從費米實驗室和橡樹嶺國家實驗室等地方獲得的資金將大幅增加。

In addition, and I mentioned this earlier, the Department of Defense also does fund quantum computing through several different initiatives.

此外，我之前提到過，國防部也透過幾項不同的措施為量子運算提供資金。

And there is a DARPA program for what they call benchmarking initiative.

DARPA 有一個名為基準測試計劃的計劃。

That's a sizable program on the order of $300 million over seven years.

這是一個相當大的計劃，七年內耗資約 3 億美元。

So we certainly hope we can get some of that.

所以我們當然希望我們能得到一些。

So the amount of dollars that the US government is planning on investing in quantum computing is slated to increase significantly.

因此，美國政府計劃投資於量子計算的美元金額預計將大幅增加。

We are talking 4x, 5x increase starting 2025.

我們正在談論從 2025 年開始增加 4 倍、5 倍。

And we certainly are looking forward to getting those bills authorized and appropriations done so we can start benefiting from that.

我們當然期待這些法案獲得批准並完成撥款，以便我們可以開始從中受益。

Great.

偉大的。

And then as you continue to improve fidelity rates and meet your road map goals and with the new news on tiling, what are potential government customers?

然後，當您繼續提高保真度並實現路線圖目標時，隨著有關瓷磚的新消息的出現，潛在的政府客戶是什麼？

How are they reacting?

他們的反應如何？

And are you making any progress on some of the RFPs you've discussed in the past, maybe not specifically on which countries, but you've mentioned that you have a handful of RFPs out there?

你們在過去討論過的一些 RFP 方面是否取得了任何進展，也許不是具體針對哪些國家，但你們提到你們有一些 RFP？

Yes.

是的。

I mean, the customers we talk to like the DOE, DoD and some other governments like the U.K. government and so on, they like our tiling approach and ABA annealing.

我的意思是，與我們交談的客戶包括能源部、國防部和其他一些政府，例如英國政府等，他們喜歡我們的平鋪方法和 ABA 退火。

I mean, we -- they believe and we certainly believe that, that's the right way to scale up qubit count.

我的意思是，我們——他們相信，我們當然也相信，這是擴大量子位元數量的正確方法。

I mean, it's easy to say you can keep increasing the size of the chip, but it's not trivial to build hundreds and thousands of qubits of monolithic chip, whereas tiling is a lot more practical.

我的意思是，說你可以不斷增加晶片的尺寸很容易，但要建造成百上千個量子位元的單晶片並不容易，而平鋪則實用得多。

That's why the CMOS industry does it and that's why we think it's the right time to bring tiling in.

這就是 CMOS 產業這樣做的原因，也是我們認為現在是引進平鋪技術的最佳時機的原因。

So we certainly feel confident that's the right way to go about doing it.

因此，我們當然相信這是正確的做法。

Some of our competitors so far have not ventured in this area.

到目前為止，我們的一些競爭對手還沒有涉足這一領域。

Could be because we have a lot of IP in this area, but also maybe other factors.

可能是因為我們在這個領域擁有很多智慧財產權，但也可能是其他因素。

We certainly think tiling with the Assisted-Bias Annealing is the right way to scale up qubit count to the hundreds and thousands of qubits over the next few years, and we are committed to it.

我們當然認為使用輔助偏置退火平鋪是在未來幾年將量子位元數量擴大到數百個量子位元的正確方法，並且我們致力於此。

So far, we have not seen any negative impact.

到目前為止，我們還沒有看到任何負面影響。

And obviously, we see a lot of benefits in tiling in terms of scale up.

顯然，我們看到平鋪在擴大規模方面有許多好處。

So we continue to push that one.

所以我們繼續推動這個目標。

Great.

偉大的。

And my last question is, assuming you can continue to stay in your technology road map and reach 100 qubits at 99.5% median fidelity, how, if at all, does this change QPU purchases for R&D purposes?

我的最後一個問題是，假設您可以繼續堅持您的技術路線圖並以99.5% 的中位數保真度達到100 個量子位，這會如何（如果有的話）改變用於研發目的的QPU 採購？

Is it unimpactful?

是不是沒有影響？

Or do you think you start to see a little bit more adoption from other government labs?

或者您認為您開始看到其他政府實驗室更多地採用它嗎？

Well, assuming we execute our road map, and we feel pretty confident we will -- so let's say, we are at 100-plus qubit at 99.5% median 2-qubit gate fidelity by this time next year, along with error correction that we talked earlier about, I mean, suddenly you start having a quantum computer that is capable of doing effectively what we call nano quantum advantage type applications.

好吧，假設我們執行我們的路線圖，並且我們非常有信心我們會這樣做——所以可以說，到明年這個時候，我們的2 量子位閘保真度中位數達到99.5%，並且我們已經實現了100 多個量子位，我們也進行了糾錯之前談到，我的意思是，突然間你開始擁有一台量子計算機，它能夠有效地執行我們所說的奈米量子優勢類型應用。

So take some practical applications and demonstrate superiority in terms of performance or cost.

因此，採取一些實際應用並展示其在性能或成本方面的優越性。

And that certainly will increase the appetite for the US government, but other governments to start doing more research with quantum computing.

這肯定會增加美國政府和其他政府開始進行更多量子計算研究的興趣。

Already the list of countries that has a quantum mission and plans to invest in quantum computing is getting to be on the order of 15 or maybe even 20 countries now.

目前，擁有量子使命並計劃投資量子運算的國家數量已達到 15 個甚至 20 個。

And when they see that we are becoming more and more practical in terms of taking on real-life applications and demonstrate some superiority, I have to believe that, that will increase the funding situation at the various government levels.

當他們看到我們在實際應用方面越來越務實並表現出一定的優勢時，我不得不相信，這會增加各級政府的資助。

So we certainly think as we continue to execute our road map, the opportunities for sales to these research customers, primarily government, national labs, university, academic kind of researchers, will continue to increase.

因此，我們當然認為，隨著我們繼續執行我們的路線圖，向這些研究客戶（主要是政府、國家實驗室、大學、學術研究人員）進行銷售的機會將繼續增加。

I mean, we have already quantified in our investor presentation along with IDC report that the market opportunity for these research applications in the next five years is roughly $7.5 billion.

我的意思是，我們已經在投資者介紹和 IDC 報告中量化了未來五年這些研究應用的市場機會約為 75 億美元。

So that's a pretty -- and even if it's still talking research at this point, it's still a very sizable market.

所以這是一個相當不錯的——即使目前仍在談論研究，它仍然是一個非常大的市場。

And that's really what we are focused on right now, getting our quantum computing capable to take on those kinds of applications, research applications, and get a foothold in that $7.5 billion marketplace in about five years.

這正是我們現在真正關注的重點，讓我們的量子運算能夠承擔此類應用、研究應用，並在大約五年內在這個價值 75 億美元的市場中站穩腳跟。

(Operator Instructions)

（操作員說明）

Craig Ellis, B. Riley.

克雷格·艾利斯，B.萊利。

Guys, congratulations on the road map and technology development progress.

夥計們，祝賀路線圖和技術開發進展。

Subodh, I wanted to start just by going back to an angle on the prior question and where David Williams was with his inquiry on US-based engagement activity.

Subodh，我想先回到之前問題的一個角度，以及大衛威廉斯（David Williams）對美國參與活動的調查的情況。

But the question's more focused internationally given the nice progress in the most recent quarter with the Israeli Quantum Computing Center and U.K.'s NQCC opening with its Ankaa-class system.

但考慮到最近一個季度以色列量子計算中心和英國 NQCC 推出 Ankaa 級系統的良好進展，這個問題在國際上更加受到關注。

The question is, as you look at the next 12 months or so with international engagements, how has your view changed in the last three months given the progress that you're making?

問題是，當您展望未來 12 個月左右的國際活動時，考慮到您所取得的進展，您的觀點在過去三個月有何變化？

Certainly, with the progress we are making, Craig, we are seeing more and more opportunities with other governments.

當然，克雷格，隨著我們取得的進展，我們看到與其他政府合作的機會越來越多。

I mean, as I mentioned earlier, there's probably 15 countries, getting close to 20 countries now, that have an active quantum program, a national quantum mission of some type with the goal of how quantum computing will help that particular country.

我的意思是，正如我之前提到的，可能有15 個國家（現在已經接近20 個國家）擁有活躍的量子計劃，某種類型的國家量子任務，其目標是量子計算將如何幫助該特定國家。

And certainly, US is the one that we focus on the most along with U.K. But as you said, we are getting more involved with the Israeli Quantum Computing Center.

當然，美國和英國一樣是我們最關注的國家。

But you go along Western Europe and select countries in Asia, the opportunities are definitely increasing as the hardware gets more capable as we start doing better quality demonstrations not only in terms of hardware, but also along with error corrections like what we just did with Riverlane, or some practical application demonstration that we have done.

但是，沿著西歐和亞洲的某些國家，隨著硬體功能變得越來越強大，機會肯定會增加，因為我們不僅在硬體方面開始進行更高品質的演示，而且還進行錯誤更正，就像我們剛剛在Riverlane 中所做的那樣，或者我們做過的一些實際應用演示。

Like we have done some work with Moody's and HSBC and Standard Chartered type financial customers, ADIA in Abu Dhabi.

就像我們與穆迪、匯豐銀行和渣打銀行類型的金融客戶、阿布達比的 ADIA 所做的一些合作一樣。

So when we publish those kinds of papers with some practical applications and show potential with quantum computing, that increases the appetite of research-oriented commercial customers as well.

因此，當我們發表具有一些實際應用的此類論文並展示量子計算的潛力時，這也會增加以研究為導向的商業客戶的興趣。

So we certainly think as hardware continues to improve as the next year goes on, we will continue to get better and better opportunities with government customers, but also some commercial research-oriented type customers.

因此，我們當然認為，隨著明年硬體的不斷改進，我們將繼續獲得越來越好的與政府客戶以及一些商業研究型客戶的機會。

That's very helpful.

這非常有幫助。

And then the follow-up question is just circling back on the company's TAM view.

然後後續問題又回到了公司的 TAM 觀點。

And I think there were earlier comments about a $7.5 billion TAM over the next few years.

我認為早些時候有關於未來幾年 75 億美元 TAM 的評論。

Can you just help us calibrate the reasonable outlook that we should have over the next three or four years and then by the end of the decade as we think about where Rigetti's focused in all the progress that it's making with the road map and with things like scaling up with this cloud-based qubit approach?

您能否幫助我們校準未來三四年以及本十年末我們應該擁有的合理前景，因為我們思考裡傑蒂在路線圖和諸如此類的事情上取得的所有進展的重點是什麼使用這種基於雲的量子位元方法進行擴充？

Sure.

當然。

So if you take a look at our investor presentation, we cite the $7.6 billion number that IDC has in about five years time period, again, primarily government national labs and research-oriented customers.

因此，如果您看一下我們的投資者演示文稿，我們會引用 IDC 在大約五年時間內擁有的 76 億美元的數字，同樣，主要是政府國家實驗室和以研究為導向的客戶。

At least in the next five years, we believe a sizable part of that market is going to be on-premise quantum computers and a smaller part will be quantum-computing-as-a-service.

至少在未來五年內，我們相信該市場的很大一部分將是本地量子計算機，而一小部分將是量子計算即服務。

Over the long run, we certainly expect QCaaS to dwarf on-premise quantum computing.

從長遠來看，我們當然預期 QCaaS 將使本地量子運算相形見絀。

But for the next five years, we think majority of the number -- and that's what -- IDC and other reports also concur with that.

但在接下來的五年裡，我們認為大多數人——這就是——IDC 和其他報告也同意這一點。

Next few years, most of the market is going to be on-premise for research customers because they like to have on-premise computers as opposed to just through the cloud.

未來幾年，大部分市場將是研究客戶的本地部署，因為他們喜歡擁有本地計算機，而不是僅僅透過雲端。

So that's the number we are focused on right now, on-premise quantum computers over the next few years for research customers.

這就是我們現在關注的數字，未來幾年為研究客戶提供的本地量子電腦。

Out of the $7.5 billion, clearly -- the IDC and other organizations that have done that market study haven't broken it down by modalities.

顯然，在這 75 億美元中，IDC 和其他進行市場研究的組織並沒有按模式進行細分。

We certainly expect superconducting to be dominating that number, mainly because of the gate speed and the higher qubit count capability.

我們當然預期超導將在這個數字中佔據主導地位，這主要是因為閘速度和更高的量子位元計數能力。

I mean, it's great for trapped-ion and pure atoms to demonstrate what they have done, and they will continue to do that.

我的意思是，對於捕獲離子和純原子來說，展示他們所做的事情非常好，他們將繼續這樣做。

I'm sure they will do a nice job in demonstrating high fidelity, low qubit count systems.

我相信他們會在展示高保真度、低量子位元數系統方面做得很好。

But when you are four orders of magnitude slower than superconducting, it really cannot lend itself to hybrid computing and any practical applications in the data centers, which are dominated, obviously, by the CPUs and GPUs.

但是，當你的速度比超導慢四個數量級時，它確實無法適合混合運算和資料中心的任何實際應用，而資料中心顯然由 CPU 和 GPU 主導。

So we think a big part of that $7.5 billion is going to be superconducting.

所以我們認為這 75 億美元中很大一部分將用於超導。

All those other modalities will play a role.

所有其他方式都將發揮作用。

And within superconducting, really, we think -- I mean, along with us, IBM is a key player in that marketplace.

在超導領域，我們確實認為——我的意思是，IBM 和我們一樣是該市場的關鍵參與者。

There are other competitors, too.

還有其他競爭對手。

I mean, Google is there, but they are not quite interested in that kind of a market, nor is Amazon.

我的意思是，谷歌就在那裡，但他們對這種市場不太感興趣，亞馬遜也不是。

There's a Finnish company called IQM and a Dutch company called QuantWare.

有一家名為 IQM 的芬蘭公司和一家名為 QuantWare 的荷蘭公司。

So there's a few competitors we have in the superconducting besides us and IBM.

因此，除了我們和 IBM 之外，我們在超導領域還有一些競爭對手。

But we think given our position, we definitely expect to be a leader in that space.

但我們認為，鑑於我們的地位，我們肯定希望成為該領域的領導者。

So we expect sizable market share of the superconducting portion.

因此，我們預期超導部分將佔據相當大的市場份額。

So when you do the math, we think that's a sizable multibillion-dollar opportunity for us to go after in about five years.

因此，如果你算一下，我們認為這對我們來說是一個價值數十億美元的機會，需要我們在大約五年內去追求。

Does that answer your question?

這能回答你的問題嗎？

Yes, that's extremely helpful.

是的，這非常有幫助。

Good luck as you push ahead.

祝你前進時好運。

And I'm showing no further questions in the queue at this time.

目前我在隊列中沒有顯示任何其他問題。

I will now turn the call back over to Dr. Subodh Kulkarni for any closing remarks.

現在，我將把電話轉回給 Subodh Kulkarni 博士，讓其發表結束語。

Thank you for your interest and questions.

感謝您的興趣和提問。

We look forward to updating you after the beginning of the new year with our fourth quarter results and full year 2024 results.

我們期待在新年伊始後向您更新第四季業績和 2024 年全年業績。

Thank you again.

再次感謝您。

Ladies and gentlemen, that does conclude our conference for today.

女士們、先生們，今天的會議到此結束。

Thank you for your participation, and you may now disconnect.

感謝您的參與，您現在可以斷開連接。