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New product choices and world enlargement lengthen firm’s management in quantum computing commercialization; updates to liquidity/stability sheet embody $20M raised by means of ELOC

PALO ALTO, Calif. & BURNABY, British Columbia — D-Wave Quantum Inc. (NYSE: QBTS), a pacesetter in quantum computing techniques, software program, and providers and the world’s first industrial provider of quantum computer systems, as we speak introduced a collection of product and enterprise updates, demonstrating continued progress and momentum of its management in driving the commercialization of quantum computing.

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Function Choice Choices Handle Key Machine Studying Downside Units

As world enterprises more and more incorporate AI as a elementary expertise part, function choice – a key constructing block of machine studying – is rising as a important space of focus that applies to a number of trade sectors. D-Wave as we speak introduced plans to construct out its function choice market choices, which can span D-Wave’s quantum hybrid solvers {and professional} providers, as a way to apply the corporate’s techniques and providers to deal with the rising want for locating environment friendly options to essentially the most tough enterprise issues.

D-Wave has constructed a function choice providing that focuses on utilizing quantum hybrid approaches to optimize function choice in synthetic intelligence/machine studying (AI/ML) mannequin coaching and prediction. Function choice is the issue of figuring out a small set of essentially the most consultant traits to enhance mannequin coaching and efficiency in machine studying. It’s a important part of machine studying and but represents an issue that could be very tough to resolve with classical computer systems. The D-Wave providing is uniquely suited to carry out function choice by setting up and fixing a combinatorial optimization downside. In comparison with classical options like recursive function elimination, this method gives a “one-shot” resolution. It avoids potential expensive cycles of iterative mannequin coaching and incremental development of the answer whereas usually delivering improved mannequin accuracy and simpler interpretation. Primarily based on promising work with a variety of D-Wave clients, the function choice providing is displaying early ends in areas like fraud detection and TV industrial promoting optimization. Prospects can presently entry D-Wave’s function choice providing straight from D-Wave or in AWS Market.

Leap Actual-Time Quantum Cloud Service Quickly Out there in Israel

Extending its world accessibility and attain, D-Wave additionally introduced as we speak it would quickly open up availability of the Leap™ quantum cloud service in Israel. Companies, builders, and researchers in Israel will quickly be capable to entry D-Wave’s Benefit™ quantum laptop, hybrid quantum/classical solvers, and the built-in developer atmosphere (IDE) in real-time by way of Leap to drive the event of business-critical, in-production hybrid purposes. Along with entry, Leap provides free developer plans, instructing and studying instruments, code samples, an built-in improvement atmosphere, demos, and a quantum neighborhood to assist customers get began constructing and deploying quantum purposes. On March 8^th, Leap might be obtainable in 39 international locations globally, together with Israel, and might be accessible straight from D-Wave or in AWS Market.

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Along with the worldwide enlargement of Leap, D-Wave introduced a collection of initiatives designed to reinforce its production- and commercial-readiness, together with SOC 2 Sort 2 compliance. SOC 2 Sort 2 compliance is a voluntary compliance normal for service organizations, developed by the American Institute of CPAs (AICPA), which specifies how organizations ought to handle buyer information. D-Wave is working with exterior auditors to attain SOC 2 Sort 2 compliance, that are designed to make sure the protection and privateness of buyer information.

Liquidity / Stability Sheet Replace

Since late October 2022, D-Wave has raised roughly $20 million beneath the beforehand introduced $150 million Fairness Line of Credit score (ELOC) with Lincoln Park Capital. The ELOC has been an environment friendly supply of capital throughout this era. Topic to the ELOC being obtainable in accordance with its phrases and beneath efficient S-1 filings (together with the 35 million shares to be registered beneath the latest S-1 submitting), D-Wave could search to entry extra capital beneath the ELOC at no matter closing dates the corporate determines applicable as an ongoing mechanism to fund D-Wave’s operations. The corporate’s present money stability has improved over the money stability beforehand reported as of September 30, 2022.

“D-Wave is quickly accelerating the commercialization of quantum computing,” mentioned Alan Baratz, CEO of D-Wave. “We’re taking a variety of steps to assist our clients expeditiously unlock the ability of quantum computing for the enterprise, as we speak, together with increasing our function choice choices to assist remedy key AI/ML workstreams, enabling entry to our Benefit system in new international locations together with Israel, and adopting new processes and compliance measures to strengthen our commercial-readiness. As well as, we’re constructing upon our money place by pursuing a wide range of financing choices to extend our entry to capital and allow us to execute on the expansion alternatives forward.”

About D-Wave Quantum Inc.:

D-Wave (NYSE: QBTS) is a pacesetter within the improvement and supply of quantum computing techniques, software program, and providers, and is the world’s first industrial provider of quantum computer systems—and the one firm constructing each annealing quantum computer systems and gate-model quantum computer systems. Our mission is to unlock the ability of quantum computing as we speak to learn enterprise and society. We do that by delivering buyer worth with sensible quantum purposes for issues as numerous as logistics, synthetic intelligence, supplies sciences, drug discovery, scheduling, cybersecurity, fault detection, and monetary modeling. D-Wave’s expertise is being utilized by a few of the world’s most superior organizations, together with NEC Company, Volkswagen, DENSO, Lockheed Martin, Forschungszentrum Jülich, College of Southern California, and Los Alamos Nationwide Laboratory.

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Ahead-Trying Statements

This press launch incorporates forward-looking statements throughout the that means of the Non-public Securities Litigation Reform Act of 1995, which statements are based mostly on beliefs and assumptions and on info presently obtainable. In some instances, you’ll be able to determine forward-looking statements by the next phrases: “could,” “will,” “may,” “would,” “ought to,” “count on,” “intend,” “plan,” “anticipate,” “consider,” “estimate,” “predict,” “venture,” “potential,” “proceed,” “ongoing,” or the unfavorable of those phrases or different comparable terminology, though not all forward-looking statements include these phrases. These statements contain dangers, uncertainties, and different elements which will trigger precise outcomes, ranges of exercise, efficiency, or achievements to be materially completely different from the knowledge expressed or implied by these forward-looking statements. We warning you that these statements are based mostly on a mixture of details and elements presently recognized by us and our projections of the long run, that are topic to a variety of dangers. Ahead-looking statements on this press launch embody, however usually are not restricted to, plans relating to function choice market choices; the long run availability of our techniques in new international locations, together with Israel; the achievement of SOC 2 Sort 2 compliance; the supply and use of the ELOC; and the success and influence of assorted financing initiatives. We can’t guarantee you that the forward-looking statements on this press launch will show to be correct. These forward-looking statements are topic to a variety of dangers and uncertainties, together with, amongst others, numerous elements past administration’s management, together with basic financial circumstances and different dangers; buyer acceptance of our services and products; and the uncertainties and elements set forth within the sections entitled “Danger Elements” and “Cautionary Observe Relating to Ahead-Trying Statements” within the registration assertion on Kind S-1 (SEC File No. 333-269732), filed by the Firm with the SEC on February 13, 2023, in addition to elements related to firms, resembling D-Wave, which can be engaged within the enterprise of quantum computing, together with anticipated tendencies, progress charges, and challenges in these companies and within the markets wherein they function; the end result of any authorized proceedings which may be instituted towards us; dangers associated to the efficiency of our enterprise and the timing of anticipated enterprise or monetary milestones; unanticipated technological or venture improvement challenges, together with with respect to the price and or timing thereof; the efficiency of our merchandise; the results of competitors on our enterprise; the chance that we might want to elevate extra capital to execute our marketing strategy, which will not be obtainable on acceptable phrases or in any respect; the chance that we could by no means obtain or maintain profitability; the chance that we’re unable to safe or shield our mental property; volatility within the value of our securities; the chance that our securities is not going to preserve the itemizing on the NYSE; modifications in relevant legal guidelines and rules; the impact of pandemics, geopolitical occasions, pure disasters, wars, or terrorist acts on our enterprise or the economic system on the whole; and the influence of inflation. Moreover, if the forward-looking statements contained on this press launch show to be inaccurate, the inaccuracy could also be materials. As well as, you’re cautioned that previous efficiency will not be indicative of future outcomes. In mild of the numerous uncertainties in these forward-looking statements, you shouldn’t place undue reliance on these statements in investing resolution or regard these statements as a illustration or guarantee by any particular person we’ll obtain our goals and plans in any specified timeframe, or in any respect. The forward-looking statements on this press launch characterize our views as of the date of this press launch. We anticipate that subsequent occasions and developments will trigger our views to alter. Nevertheless, whereas we could elect to replace these forward-looking statements in some unspecified time in the future sooner or later, we now have no present intention of doing so besides to the extent required by relevant legislation. It’s best to, due to this fact, not depend on these forward-looking statements as representing our views as of any date subsequent to the date of this press launch.

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