New D-Wave Advantage system, housed at the
USC-Lockheed Martin Quantum Computing Center, brings quantum system
and hybrid solver access to customers seeking a U.S.-based
solution
D-Wave Systems Inc. (“the Company”), a leader in quantum
computing systems, software, and services, and the only company
building both quantum annealing and gate-based quantum computers,
today announced the availability of the first Advantage™ quantum
computer, accessible via the Leap™ quantum cloud service,
physically located in the United States. The cloud-based service is
part of the USC-Lockheed Martin Quantum Computing Center (QCC)
hosted at USC’s Information Sciences Institute (ISI), a unit of the
University of Southern California’s prestigious Viterbi School of
Engineering. Among the highlights:
- The service will provide access to the first Advantage™ quantum
system physically located in the United States. Advantage is the
first quantum computer built for business that contains the new
Advantage performance update released in October 2021 and features
the highly connected Pegasus topology and 5000+ qubits.
- Leap™ quantum cloud service users will immediately be able to
access the Advantage™ quantum computer located at the QCC in
real-time. Leap access also gives researchers, governments and
enterprises access to all of the programming tools and hybrid
quantum-classical resources offered through Leap.
- Additionally, Amazon Web Services (AWS) and D-Wave announced
that the U.S.-based system will be available today for use in
Amazon Braket, expanding the number to three different D-Wave
quantum systems available to AWS users.
Through QCC, USC has been a pioneering academic institution in
the hosting and operating of a commercial quantum system and is a
world leader in research and development of advanced information
processing, computer and communications technologies. USC has been
working with D-Wave since 2010 and has housed several generations
of earlier D-Wave systems with the first one installed at the QCC
with Lockheed Martin.
“Making quantum computing ubiquitous and available is one of our
core areas of focus and is central to the commercialization of
quantum computing,” said Alan Baratz, CEO of D-Wave. “This is an
important moment for our U.S.-based customers who want their Leap
cloud access to the newest Advantage system and quantum hybrid
solver service to be in-region. The timing is especially important.
Eleven years ago, together with Lockheed Martin, we installed our
first quantum system at USC. Fast forward to today, delivering the
most performant commercial quantum computer in the world yet again
allows users to harness the power of annealing quantum computing
for real-world optimization problems, all accessible real-time
through our Leap quantum cloud service and in AWS’s Amazon
Braket.”
“Quantum computing is a constantly evolving field and it’s
important that our customers have access to the latest quantum
hardware,” said Richard Moulds, General Manager of Amazon Braket at
AWS. “By adding support for a third quantum system from D-Wave to
Amazon Braket, all customers now have on-demand access to even more
hardware options. Furthermore, U.S.-based customers have the added
benefit of using a device located in California, making it possible
for them to conduct research using D-Wave hardware in-region.”
“Quantum information science (QIS) is a top priority research
area for the nation and has long been a focus of USC Viterbi,” said
Yannis C. Yortsos, Dean of the USC Viterbi School of Engineering.
“In collaboration with Lockheed Martin, we established at ISI in
2011 the first academic home for a quantum computing system, namely
D-Wave One. For more than a decade, research and education in QIS
at USC Viterbi has been thriving and constantly growing.”
“For more than 12 years, Lockheed Martin has been proud to
support advanced practical quantum computing, putting the
technology in the hands of people who can make the most of it,”
said Greg Tallant, Lockheed Martin Fellow. “Lockheed Martin is a
leader in quantum computing applications development, and the
Advantage system at QCC furthers our 21st Century Security
vision.”
“The D-Wave annealing quantum computer provides a four-fold
increase in the number of qubits from our previous system, as well
as increased coherence and other performance metrics,” said Daniel
Lidar, holder of the Viterbi Professorship of Engineering at USC,
and the scientific and technical director of QCC. “We have great
hopes for the new system as we explore coherent quantum annealing
to achieve quantum speedups in quantum simulation, best-in-class
optimization and machine learning. Some of our first projects will
be to investigate speedup over classical optimization methods for
hard optimization problems as well as pursuing additional
government-funded research for identification and classification of
quantum phase transitions.”
To date, D-Wave’s customers have developed hundreds of early
quantum applications in fields as diverse as financial modeling,
flight planning, quantum chemistry simulation, automotive
engineering, health care, logistics, and more.
Today’s announcement marks the opening of the first Advantage™
quantum system physically located in the United States at the QCC.
D-Wave’s quantum computers - which have been available to North
American users via the Leap™ quantum cloud service out of British
Columbia since 2018 - are particularly suitable for solving
difficult optimization problems. Optimization use cases are
ubiquitous in industry and are interesting because of their
computational complexity, and recent research demonstrates that
annealing quantum computers will be best suited for optimization
use cases both today and into the future.
The upgraded system at USC will be available for enterprises,
researchers and government. It will enable businesses to benefit
from the commercial use-cases that can be run on the quantum hybrid
solver service and enable researchers to continue studying how
quantum effects may speed up the solution of complex optimization,
machine learning and sampling problems. Moreover, the government
now has the most advanced system in the U.S. for tackling key
public sector initiatives, including electrical grid resilience,
emergency response, and infrastructure optimization projects.
About D-Wave Systems 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. Our mission is to unlock the power of quantum computing
for business and society, today. 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 systems are being used by some of the
world’s most advanced organizations, including NEC Corporation,
Volkswagen, DENSO, Lockheed Martin, University of Southern
California, Forschungszentrum Jülich and Los Alamos National
Laboratory. With headquarters and the Quantum Engineering Center of
Excellence based near Vancouver, Canada, D-Wave’s U.S. operations
are based in Palo Alto, Calif. D-Wave has a blue-chip investor base
that includes PSP Investments, Goldman Sachs, BDC Capital, NEC
Corp., Aegis Group Partners, and In-Q-Tel.
D-Wave announced in February it has entered into a definitive
transaction agreement with DPCM Capital, Inc. (“DPCM Capital”)
(NYSE:XPOA), a publicly traded special purpose acquisition company.
Upon closing of the transaction, shares of D-Wave Quantum Inc., a
newly formed parent company of D-Wave and DPCM Capital, are
expected to trade on the NYSE under the symbol “QBTS.”
Important Information About the Proposed Transaction and
Where to Find It:
A full description of the terms of the transaction between
D-Wave and DPCM Capital is provided in a registration statement on
Form S-4, as amended, filed with the Securities and Exchange
Commission (SEC) by D-Wave Quantum Inc. that includes a preliminary
prospectus with respect to the combined company’s securities, to be
issued in connection with the transaction and a preliminary proxy
statement with respect to the stockholder meeting of DPCM Capital
to vote on the transaction. D-Wave Quantum Inc. and DPCM Capital
urge investors, stockholders, and other interested persons to read
the preliminary proxy statement/ prospectus, as well as other
documents filed with the SEC, because these documents contain
important information about D-Wave Quantum Inc., DPCM Capital,
D-Wave, and the transaction. After the registration statement is
declared effective, the definitive proxy statement/prospectus to be
included in the registration statement will be mailed to
stockholders of DPCM Capital as of a record date to be established
for voting on the transaction. Stockholders also may obtain a copy
of the registration statement on Form S-4, as amended—including the
proxy statement/prospectus and other documents filed with the SEC
without charge—by directing a request to: D-Wave Quantum Inc., 3033
Beta Avenue, Burnaby, BC V5G 4M9 Canada, or via email at
shareholdercomm@dwavesys.com and DPCM Capital, 382 NE 191 Street,
#24148, Miami, Florida 33179, or via email at
mward@hstrategies.com. The preliminary and definitive proxy
statement/prospectus to be included in the registration statement,
once available, can also be obtained, without charge, at the SEC’s
website (www.sec.gov).
Forward-Looking Statements
This press release contains forward-looking statements that 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 availability of the first
Advantage™ quantum computer, accessible via the Leap™ quantum cloud
service, physically located in the United States, as well as the
anticipated benefits to customers and other parties of such
availability, such as increased tools and resources, and the
availability of the U.S.-based system for use in Amazon Braket. 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 risks relating to general economic conditions, risks
relating to the immaturity of the quantum computing market and
other risks, uncertainties and factors set forth in the sections
entitled “Risk Factors” and “Cautionary Note Regarding
Forward-Looking Statements” in DPCM Capital’s Annual Report on Form
10-K, as amended, originally filed with the SEC on March 31, 2021,
and in the proxy statement/prospectus filed by D-Wave Quantum Inc.
in connection with the proposed transaction, and other filings with
the SEC. Furthermore, if the forward-looking statements 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 rely on these statements
in making an investment decision or regard these statements as a
representation or warranty by any person that D-Wave Quantum Inc.,
DPCM Capital, or D-Wave 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.
No Offer or Solicitation
This communication is for informational purposes only and does
not constitute an offer or invitation for the sale or purchase of
securities, assets, or the business described herein or a
commitment to D-Wave Quantum Inc., DPCM Capital, or D-Wave, nor is
it a solicitation of any vote, consent, or approval in any
jurisdiction pursuant to or in connection with the transaction or
otherwise, nor shall there be any sale, issuance, or transfer of
securities in any jurisdiction in contravention of applicable
law.
Participants in Solicitation
D-Wave Quantum Inc., DPCM Capital, and D-Wave, and their
respective directors and executive officers, may be deemed
participants in the solicitation of proxies of DPCM Capital’s
stockholders in respect of the transaction. Information about the
directors and executive officers of DPCM Capital is set forth in
DPCM Capital’s filings with the SEC. Information about the
directors and executive officers of D-Wave Quantum Inc. and more
detailed information regarding the identity of all potential
participants, and their direct and indirect interests by security
holdings or otherwise, will be set forth in the definitive proxy
statement/prospectus for the transaction when available. Additional
information regarding the identity of all potential participants in
the solicitation of proxies to DPCM Capital’s stockholders in
connection with the proposed transaction and other matters to be
voted upon at the special meeting, and their direct and indirect
interests, by security holdings or otherwise, will be included in
the definitive proxy statement/prospectus, when it becomes
available.
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version on businesswire.com: https://www.businesswire.com/news/home/20220512005663/en/
For D-Wave:
Media Contact: Alan Auyeung AxiCom media@dwavesys.com
Investor Relations Contact: Kevin Hunt
ir@dwavesys.com
For DPCM Capital:
Marley Ward mward@hstrategies.com
DPCM Capital (NYSE:XPOA)
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