D-Wave Quantum Inc. (NYSE: QBTS) Announces Notable Progress in Development of High-Coherence Qubits

  • The fluxonium qubits that D-Wave has designed, manufactured, and operated demonstrate properties comparable to the best in scientific literature to date
  • D-Wave has manufactured and tested fluxonium qubits in a two-dimensional circuit geometry, measuring several factors
  • D-Wave owns one of the industry’s largest quantum computer intellectual property portfolios, with more than 210 issued U.S. patents, and has published more than 100 peer-reviewed papers in leading scientific journals

D-Wave Quantum (NYSE: QBTS), a leader in quantum computing systems, software, and services, and the world’s first commercial supplier of quantum computers, recently announced notable progress in its development of high-coherence qubits, with results expected to have a significant impact on its future quantum technologies. The fluxonium qubits that D-Wave has designed, manufactured, and operated demonstrate quantum properties comparable to the best in scientific literature to date.

The fluxonium qubit was pioneered by Michel Devoret and his colleagues at Yale University in 2009 and has recently become an attractive candidate for use in next-generation gate model quantum computing architectures. With the industry’s growing interest and D-Wave’s expertise in flux-like quantum technologies, the company explored the use of fluxonium in developing its own technology. D-Wave has manufactured and tested fluxonium qubits in a two-dimensional circuit geometry, measuring several factors.

“These results show that fluxonium is a viable candidate qubit for D-Wave’s gate model quantum computing architectures. Moreover, in doing this work, we have learned that fluxonium can address some of the known shortcomings of competing superconducting gate model qubits,” said Mark Johnson, SVP of quantum technologies and systems products at D-Wave (https://ibn.fm/icFXs). “We believe this will have a significant impact on D-Wave’s hardware development and reinforces our technical leadership by demonstrating that we can design, manufacture, and operate high-coherence fluxonium qubits that are comparable to the best in the world.”

We expect that quantum computing will have broad applicability to computationally complex problems across industries, including manufacturing, life sciences, finance, logistics, and more. D-Wave’s pursuit of practical quantum computing has resulted in its technology being used by more than two dozen Forbes Global 2000 companies and blue-chip industry leaders like Mastercard, Deloitte, ArcelorMittal, Siemens Healthineers, Unisys, NEC Corporation, Pattison Food Group Ltd., DENSO and Lockheed Martin.

D-Wave owns one of the industry’s largest quantum computer intellectual property portfolios. The company has more than 210 issued U.S. patents and has published more than 100 peer-reviewed papers in leading scientific journals.

According to data from Hyperion Research, over 80% of enterprises are looking to move forward with quantum computing efforts with increased funding and resources. One-third of respondents plan to invest at least $15 million in quantum efforts – all of which will take place in the next two to three years (https://ibn.fm/K387s). We believe this shows that forward-thinking organizations are beginning to recognize quantum as an opportunity to enhance operations – from finding efficiencies and reducing waste to decreasing time to solution and solving problems that were once abandoned due to their complex nature.

D-Wave is strategically positioned to help its customers achieve value by leveraging quantum computing in practical business applications, due to its use of annealing quantum computers. As one of the few companies offering a full stack of quantum computing systems, software, and services, D-Wave is making strides to enable enterprises, governments, developers, and researchers to access the power of quantum computing, which is a unique attribute for prospective investors.

For more information, visit the company’s website at www.DWaveQuantum.com.

NOTE TO INVESTORS: The latest news and updates relating to QBTS are available in the company’s newsroom at https://ibn.fm/QBTS

Forward-Looking Statements

Certain statements in this press release 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 press release include, but are not limited to, statements regarding expectations of how the results of D-Wave’s progress with fluxonium qubits may impact its future quantum technologies and hardware development, including its gate model program; the conclusion that fluxonium may be a viable candidate qubit for D-Wave’s gate model quantum computing architectures; the broad applicability that quantum computing is expected to have to computationally complex problems across industries; the probability that enterprises will invest in quantum computing and the expected amount of such investments; and the ability of quantum computing to help businesses achieve value and to surpass their competition. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management’s control, including the results of further development of fluxonium qubits by D-Wave; the development by other companies of fluxonium qubits that may surpass D-Wave’s technology; the viability of fluxonium qubits as candidates for D-Wave’s gate model quantum computing architectures; the success of fluxonium qubits in gate model quantum computing architectures, if chosen for such purposes; whether fluxonium continues to address some of the known shortcomings of competing superconducting gate model qubits; general economic conditions and other risks; the company’s ability to expand its customer base and the customer adoption of its 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 the company; risks related to the performance of the company’s 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 the company’s products; the effects of competition on the company’s business; the risk that D-Wave will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; the risk that D-Wave may never achieve or sustain profitability; the risk that the company is unable to secure or protect its intellectual property; volatility in the price of the company’s securities; the risk that the company’s 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 press release in making an investment decision, which are based on information available to us on the date hereof. The company undertakes no duty to update this information unless required by law.

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