But the idea is a straightforward simple shipment.
Unidentified Analyst: Okay. Great. Thank you so much for that. And just a last one for Jeff. Jeff, on the share count side, just wondering if you could help quantify a bit what the share count might be for this quarter and when the full dilution from all the recent equity raise, what that might be for next quarter? Thank you.
Jeffrey Bertelsen: Sure. Yes. I mean the full share count impact from the activity that I mentioned in Q1 of 2024 that will really kick in for the second quarter of 2024. We did sell 10.1 million shares in the first quarter. So from a share count perspective, we will be north of 150 million shares here by the time we get to the end of Q1.
Unidentified Analyst: Okay, great. Thank you so much.
Subodh Kulkarni: Thank you, Krish.
Operator: Thank you. [Operator Instructions] Our next question comes from the line of David Williams with The Benchmark Company. Your line is now open.
David Williams: Hey, good afternoon, gentlemen. I hope you can hear me okay.
Subodh Kulkarni: Yes, we can hear you. David.
David Williams: Great. Some pretty significant progress across [Technical Difficulty] the aspects of the firm and the company. And just bringing that road map, I think from [Technical Difficulty] something will be sustainable. [Technical Difficulty] path as you set forward. Kind of wondering, as you look out, what do you think the next big steps are for Rigetti? And how do you feel about your [Technical Difficulty] relative to your peers?
Subodh Kulkarni: Yes. Your line was cutting out, but I think I got the gist of the question, so I’ll answer it from what I understood. So regarding our road map and critical points, as I mentioned, fidelity is the top critical point for all of us in quantum computing. We are at 98% median 2-qubit gate fidelity at the 84-qubit level. Obviously, the number is much higher for smaller qubit accounts. Our goal is to get to 99% this year and in the mid-99s next year at 84-qubit at which point, hopefully, we’ll start dialing up the qubit count to several hundred qubit. We talk a lot about fidelity and qubit count, and that gets a lot of the attention. But another important metric is gate speed. Generally, our gate speeds are in the 50 to 100 nanosecond range right now.
Most of us in the supercomputing space are in that 50 to 200 nanosecond gate speed range. When we look at other modalities, particularly things like trapped ion or pure atoms, they are dealing with three orders of magnitude slower gate speeds than what we in the superconducting camp are looking at. So as we have always said, the challenge for superconducting quantum computing is fidelity. The benefits we have are scalability and gate speed. The challenges for the other modalities like trapped ion and pure atoms, their fidelity intrinsically is better because they are dealing with pure ions or pure atoms. But the big challenge for them is scalability and gate speed. I mean it’s really hard to overcome three orders of magnitude gate speed for those kinds of technologies in addition to the scalability challenge.
So overall, within the quantum computing space, we continue to be firm believers in superconducting quantum computing. We think that is the right way to go about tackling real-life problems. And that’s why you look at collectively between us and other companies in the superconducting space like IBM, Google and a few others. We are really making rapid progress all of us. So within the next two to three years, I’m sure more than one of us in the superconducting camp will be at 1,000-plus qubit at 99.5% or better percent fidelity with sub-100 nanosecond gate speed. And that’s really when real-life quantum advantage type applications start becoming meaningful. So I think that’s where the superconducting camp is going. We feel pretty good that we are in the leadership position in that camp as evidenced by the government of US and the government of UK choosing us over others.
So this is pretty good about superconducting quantum computing in general and within that, our position. Hopefully, that answers your question if I heard it correctly.
Operator: Thank you. I’m currently showing no further questions at this time. I’d like to hand the conference back over to Mr. Subodh Kulkarni for closing remarks.
Subodh Kulkarni: Thank you all for your questions and interest. We look forward to updating you as the year progresses. Thanks again.
Operator: This concludes today’s conference call. Thank you for your participation. You may now disconnect. Everyone have a wonderful day.
