- National Defense Authorization Act (“NDAA”) signed into law on December 22, 2023
- NDAA includes quantum pilot program dedicated to near-term quantum computing applications, which D-Wave has already been developing, and calls for consideration of all quantum technologies (annealing, hybrid and gate model)
- Legislation promotes cultivating and strengthening relationships between the Department of Defense, academic institutions, small enterprises, and unconventional defense contractors
D-Wave Quantum (NYSE: QBTS), the world’s first commercial supplier of quantum computers, software, and services, commends U.S. policymakers for including a groundbreaking quantum pilot program, dedicated to near-term quantum computing applications, as part of the National Defense Authorization Act (“NDAA”) signed into law December 22, 2023 (https://ibn.fm/5teyZ).
The initiative establishes a program that primarily focuses on developing near-term applications to tackle complex computational problems faced by the Department of Defense (“DOD”), including those affecting the Armed Forces. Its core objective is to assess, evaluate, and implement quantum and quantum-hybrid…
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 the implementation of the initiatives established by the NDAA and the development and implementation of other Congressional initiatives related to quantum technology. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management’s control, including the successful implementation of the initiatives and programs established by the NDAA; whether the other pieces of legislation related to Congressional initiatives regarding quantum technology continue to proceed through the legislative process; 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 the company’s 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 D-Wave is unable to secure or protect the company’s 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 the company on the date hereof. D-Wave undertakes no duty to update this information unless required by law.
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