D-Wave Quantum (NYSE: QBTS), a leader in quantum computing systems, software and services as well as the world’s first commercial supplier of quantum computers, has announced support for new Congressional legislation. According to the announcement, the company applauds National Quantum Initiative (“NQI”) legislation that includes all quantum computing systems and focuses on near-term application development. In addition, D-Wave CEO Dr. Alan Baratz met with members of Congress earlier this year, urging their support to reauthorize the NQI and ensure that the legislation is expanded to encompass all quantum-computing technologies, including annealing, gate model and quantum-hybrid. The new legislation is designed to expand the NQI and pushes for additional commercialization efforts while also supporting industry engagement within U.S. quantum programs, a dedicated near-term quantum application development program, and an overarching inclusion of all quantum computing systems and quantum-hybrid technologies.
The announcement called the NQI “watershed legislation” that serves as the public sector roadmap for establishing the path forward for the U.S. quantum industry. The legislation is designed to assist in determining how the federal government can use quantum technology to provide solutions to a variety of challenges impacting individuals, communities and the economy. The previous act expired on Sept. 30, 2023.
“We commend the House Science Committee for introducing NQI legislation that is inclusive of all quantum technologies, including quantum annealing and quantum-hybrid technologies,” said D-Wave Quantum CEO Dr. Alan Baratz in the press release. “Reauthorizing and expanding the NQI will strengthen U.S. quantum programs and move the U.S. closer to global leaders like Japan, the U.K., Australia and Germany, which are already heavily investing in near and long-term quantum technology and supporting commercialization efforts. Congress must act quickly to ensure that U.S. programs remain competitive to global counterparts.”
To view the full press release, visit https://ibn.fm/OVD6a
About D-Wave Quantum Inc.
D-Wave is a leader in the development and delivery of quantum computing systems, software and services, and is the world’s first commercial supplier of quantum computers — and the only company building both annealing quantum computers and gate-model quantum computers. The company’s mission is to unlock the power of quantum computing today to benefit business and society. D-Wave does this by delivering customer value with practical quantum applications for problems as diverse as logistics, artificial intelligence, materials sciences, drug discovery, scheduling, cybersecurity, fault detection and financial modeling. D-Wave’s technology has been used by some of the world’s most advanced organizations, including Volkswagen, Mastercard, Deloitte, Davidson Technologies, ArcelorMittal, Siemens Healthineers, Unisys, NEC Corporation, Pattison Food Group Ltd., DENSO, Lockheed Martin, Forschungszentrum Jülich, University of Southern California, and Los Alamos National Laboratory. For more information about the company, please visit www.dwavequantum.com.
Certain statements in this newsbreak are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially from the information expressed or implied by these forward-looking statements and may not be indicative of future results. Forward-looking statements in this newsbreak include, but are not limited to, statements regarding the potential impacts of reauthorizing and expanding the NQI. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management’s control, including whether the initiatives set forth in the NQI are implemented and, if so, the success of such initiatives; general economic conditions and other risks; our ability to expand our customer base and the customer adoption of our solutions; risks within D-Wave’s industry, including anticipated trends, growth rates, and challenges for companies engaged in the business of quantum computing and the markets in which they operate; the outcome of any legal proceedings that may be instituted against us; risks related to the performance of our business and the timing of expected business or financial milestones; unanticipated technological or project development challenges, including with respect to the cost and/or timing thereof; the performance of our products; the effects of competition on our business; the risk that we will need to raise additional capital to execute our business plan, which may not be available on acceptable terms or at all; the risk that we may never achieve or sustain profitability; the risk that we are unable to secure or protect our intellectual property; volatility in the price of our securities; the risk that our securities will not maintain the listing on the NYSE; and the numerous other factors set forth in D-Wave’s Annual Report on Form 10-K for its fiscal year ended December 31, 2022 and other filings with the Securities and Exchange Commission. Undue reliance should not be placed on the forward-looking statements in this newsbreak in making an investment decision, which are based on information available to us on the date hereof. We undertake no duty to update this information unless required by law.
NOTE TO INVESTORS: The latest news and updates relating to QBTS are available in the company’s newsroom at https://ibn.fm/QBTS
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