D-Wave Announces New Commercial Customer Engagements, Cross-Platform Product Enhancements at Qubits 2023

Rhea-AI Summary

D-Wave Quantum Inc. (NYSE: QBTS) announces significant commercial traction at its Qubits 2023 user conference, where it showcased new and renewed customer engagements across various industries. Notable clients include Siemens Healthineers and Unisys, indicating a growing interest in quantum computing solutions. The conference highlighted practical applications in sectors such as medical imaging and logistics. D-Wave also revealed advancements in its Advantage2™ annealing system, featuring over 7000 qubits and improved coherence. The company emphasized its commitment to innovation, promising enhanced quantum solutions aimed at delivering substantial business value.

Positive

• New and renewed customer engagements signal growing commercial adoption of quantum computing.
• Notable customers added include Siemens Healthineers and Unisys, indicating increased market interest.
• Advancements in Advantage2™ annealing system expected to improve performance with over 7000 qubits and 20-way connectivity.
• Showcasing practical applications at Qubits 2023 across various sectors including logistics and medical imaging.

Negative

• None.

Customer wins and renewals span multitude of industries, point to growing commercial adoption of D-Wave’s practical quantum computing solutions

BURNABY, British Columbia & PALO ALTO, Calif.--(BUSINESS WIRE)-- D-Wave Quantum Inc. (NYSE: QBTS), a leader in quantum computing systems, software, and services and the world’s first commercial supplier of quantum computers, today announced new and renewed commercial customer engagements along with product updates for its annealing and gate model quantum computing solutions at the company’s annual global Qubits 2023 user conference. D-Wave’s continued commercial customer momentum and product innovations reflect the accelerating adoption of quantum computing solutions and growing recognition of the technology’s ability to unlock business value, today.

Commercial Adoption of D-Wave’s Practical Quantum Solutions Grows

Now in its seventh year, Qubits, D-Wave’s annual user conference, has become one of the premiere quantum computing industry events, differentiated by its focus on real-world applications of quantum technology that can deliver business value today. Live from Miami and streaming virtually, Qubits 2023 is providing business and technology leaders, developers, and researchers the opportunity to hear directly from quantum practitioners about how they’re using D-Wave technology to tackle complex business challenges. Quantum-hybrid applications on display at Qubits include solutions from: Mastercard (customer loyalty and rewards allocation), Davidson Technologies (missile defense optimization), Recruit Group (TV commercial allocation), Pattison Food Group (grocery operations optimization), SavantX (port operations optimization), and many more.

In addition to showcasing commercial quantum applications at Qubits, D-Wave today announced that it has recently added a number of customers to its portfolio, representing a diverse set of potential use cases. New and renewing commercial customers working with D-Wave on quantum-hybrid use cases include Siemens Healthineers, Unisys, and Davidson Technologies. Signaling a growing interest and commitment by businesses to incorporate quantum into their compute infrastructures, the companies are exploring a variety of potential applications spanning medical imaging, military optimization, and vehicle routing.

“Practical quantum computing solutions are becoming essential to helping businesses compete, innovate, and grow,” said Dr. Alan Baratz, CEO of D-Wave. “As we gather at our annual Qubits user conference in Miami this week, the commercialization of quantum is on full display. Currently, more than 60 companies are working with us on real-world quantum-hybrid applications that are unlocking business value, today. Unlike other modalities, annealing quantum computing is commercial-grade and enterprise-ready, and customers are realizing the benefits of this powerful technology now.”

Product Updates Reflect New Milestones for Both Annealing and Gate Model Platforms

In support of the Clarity product roadmap announced at the last Qubits conference in 2021, D-Wave today shared a number of updates, furthering its consistent track record of delivering ground-breaking technology innovations and powerful, usable quantum systems, software, and tools to market.

D-Wave shared progress toward its next generation Advantage2™ annealing quantum computing system, which is expected to feature 7000+ qubits and 20-way connectivity, and will be implemented in a new lower-noise fabrication stack, all to enable customers to solve more complex problems with greater precision, including:

• Improvements in qubit coherence: A significant 4x reduction in noise was demonstrated for qubits within prototype processors fabricated from a newly developed lower noise fabrication process. This means higher coherence qubits and is expected to lead to additional performance gains for the Advantage2 quantum system, beyond those already achieved and released in the Advantage2 experimental prototype that was made available in the Leap ^TM quantum cloud service in June 2022
• Launch of new problem visualizer: The Ocean^TM SDK and problem visualizer are now updated to reflect the higher Advantage2 connectivity (20-way), highlighting more compact embedding that enables larger, more complex problems and better solutions

Demonstrating continued advancement of its software solutions, D-Wave also showcased several recent enhancements to its constrained quadratic model (CQM) hybrid solver in Leap, including:

• Continuous variables: enabling better representation of constrained problems – such as production capacity, available funds, and asset tracking – by using continuous variables and thus expanding the scope of quantum solutions into the Mixed Integer Programming (MIP) space
• Weighted constraints: allowing quantum developers to more easily and accurately model problems where it is not possible to satisfy all constraints through classical computing logic
• Pre-solve techniques: reducing the size of problems and allowing for larger models to be submitted to the hybrid solver by removing unnecessary variables and constraints to achieve a cleaner data set

Also at Qubits, D-Wave shared continued progress in the development of its gate model computing system, revealing several milestones, including:

• Scalable qubit designed and readout method validated: D-Wave is currently benchmarking 1- and 2-qubit fluxonium qubit circuits manufactured in our fabrication process and has validated a new scalable readout method for gate model architecture. In addition, D-Wave has completed a first iteration of a logical qubit design, which leverages new scalable control and readout technologies
• Gate model simulator launched in Ocean: D-Wave has introduced a new gate model simulator in the Ocean suite of open-source tools, enabling developers to construct quantum circuits, create and add quantum gates to any circuit, and simulate circuits on our performant state-vector simulator

“Our relentless and on-time product delivery reflects a deep commitment to ongoing innovation that accelerates quantum computing adoption, usage and customer value,” Dr. Baratz said. “Through the continued development of our quantum annealing and gate model quantum solutions, we’re focused on building and delivering the full breadth of quantum solutions to our customers, both today and into the future, bringing our unique cross-platform vision to life.”

Qubits runs January 17-19, 2023. If you’re interested in viewing the event, please register and tune in here. A recording of the conference will be available for replay after the event concludes.

About D-Wave Quantum Inc.

D-Wave (NYSE: QBTS) 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. Our mission is to unlock the power of quantum computing today to benefit business and society. We do 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 is being used by some of the world’s most advanced organizations, including NEC Corporation, Volkswagen, DENSO, Lockheed Martin, Forschungszentrum Jülich, University of Southern California, and Los Alamos National Laboratory.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which statements are based on beliefs and assumptions and on information currently available. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties, and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. We caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, which are subject to a number of risks. Forward-looking statements in this press release include, but are not limited to, statements regarding the company’s future growth and innovations, the increased adoption of quantum computing solutions and expansion of related market opportunities and potential applications of quantum computing and our customer base, our expectations regarding the features of the Advantage2™ annealing quantum computing system and our ability to build and deliver the full breadth of quantum solutions to our customers. We cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management’s control, including general economic conditions and other risks, our ability to expand our customer base and the customer adoption of our solutions, and the uncertainties and factors set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the registration statement on Form S-1 (SEC File No. 333-267124), as amended, initially filed by the Company with the SEC on August 29, 2022 and which was declared effective by the SEC on October 26, 2022, as well as factors associated with companies, such as D-Wave, that are engaged in the business of quantum computing, including anticipated trends, growth rates, and challenges in those businesses and in 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; and the risk that our securities will not maintain the listing on the New York Stock Exchange. Furthermore, if the forward-looking statements contained in this press release prove to be inaccurate, the inaccuracy may be material. In addition, you are cautioned that past performance may not be indicative of future results. In light of the significant uncertainties in these forward-looking statements, you should not place undue reliance on these statements in making an investment decision or regard these statements as a representation or warranty by any person we will achieve our objectives and plans in any specified time frame, or at all. The forward-looking statements in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we have no current intention of doing so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230117005399/en/

D-Wave:

Jill Wroblewski

AxiCom

media@dwavesys.com

Source: D-Wave Quantum Inc.

FAQ

What new customer engagements were announced by D-Wave Quantum Inc. at Qubits 2023?

D-Wave announced new and renewed customer engagements with Siemens Healthineers, Unisys, and Davidson Technologies, indicating growing commercial adoption.

What advancements were revealed for the Advantage2 annealing quantum computing system?

D-Wave disclosed that the Advantage2 system will feature over 7000 qubits and significant reductions in noise, enhancing performance.

When is the Qubits 2023 conference taking place?

Qubits 2023 runs from January 17-19, 2023.

What industries are represented among D-Wave's commercial customers?

D-Wave's customers come from diverse industries, including medical imaging, military optimization, and logistics.

How many companies are currently working with D-Wave on quantum applications?

Over 60 companies are collaborating with D-Wave on real-world quantum-hybrid applications.