- Legislation presented to Congress calls for the United States government to develop and adopt near-term quantum computing – some within 24 months or less for developing and deploying demos, proofs of concepts, and pilots
- Global government spending on quantum application development is expected to reach $36 billion during 2023
- D-Wave offers quantum solutions to help government and public sector develop applications that can solve important optimization problems
Recent legislation presented to Congress calls for the United States government to develop and adopt near-term quantum computing applications to solve complex public sector optimization problems, which could include electrical grid resilience, optimization of ports, global supply chain issues, emergency management and response, infrastructure, and telecommunication networks. D-Wave Quantum (NYSE: QBTS), a leader in quantum computing systems, software, and services, has the technology necessary to develop these applications today for the optimization problems faced by the government and the public sector.
“The country is at a unique inflection point for U.S. quantum policy. To date, the U.S. National Quantum Strategy has not prioritized application development, but legislation before Congress has shifted that mindset,” said Dr. Alan Baratz, CEO of D-Wave (https://ibn.fm/pPYnJ). “D-Wave stands ready to collaborate with the U.S. government to build near-term quantum applications to help meet current and future public sector needs.”
The National Defense Authorization Act (“NDAA”) and the FY24 Energy and Water Appropriations bill, currently in the House of Representatives, advance policies that include developing near-term quantum applications. These represent an important shift in the government’s mindset about quantum, which had previously been focused on longer-term gate-model quantum solutions. The NDAA and Appropriation bills explicitly call for policies that include all viable quantum computing systems – including quantum annealing, gate-model, and quantum-hybrid technologies (quantum plus classical computing applications). The current legislation also includes an aggressive timeframe of 24 months or less for developing and deploying demos, proofs of concepts, and pilots.
Three other pieces of legislation regarding quantum are currently at various stages of the approval process. The Quantum Sandbox bill, presented in April 2023, calls for quantum and quantum-hybrid development and is proposed to amend the National Quantum Initiative Act to establish a public-private partnership for near-term application development and acceleration (https://ibn.fm/rV4iq). Additionally, the Wildfire Tech DEMO Act seeks quantum technology for wildfire response (https://ibn.fm/B2jCI), and the Quantum Practice Act calls for quantum technology use for modeling and simulations (https://ibn.fm/FNoQP).
All of the legislation supporting the use of quantum technology comes at a time when global government spending on quantum application development is increasing and is expected to reach $36 billion by the end of the year (https://ibn.fm/o7Rx2). Originally enacted in December 2018, the National Quantum Initiative Act is scheduled for reauthorization this year.
D-Wave, the world’s first commercial supplier of quantum computing solutions, is already providing solutions to its broad portfolio of commercial and government customers in areas such as logistics, artificial intelligence, materials sciences, drug discovery, scheduling, fault detection, and financial modeling, using the company’s quantum annealing technology. Companies, including Volkswagen, Mastercard, Deloitte, ArcelorMittal, Siemens Healthineers, Unisys, Accenture, BBVA, NEC Corporation, Pattison Food Group Ltd., DENSO, and Lockheed Martin, are contributing to the company’s use cases through its collection of client success stories (https://ibn.fm/6HH95).
D-Wave stands ready to execute on the government’s shift to build near-term quantum applications with technology uniquely suited for solving the problems currently faced by the government and public sector’s optimization problems.
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
This article 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 article include, but are not limited to, statements regarding the release and performance of the Advantage2 processor. We cannot assure you that the forward-looking statements in this article 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; customer acceptance of our products and services; 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 filed by the company with the SEC on February 13, 2023, 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; the risk that our securities will not maintain the listing on the NYSE; changes in applicable laws and regulations; the effect of pandemics, geopolitical events, natural disasters, wars, or terrorist acts on our business or the economy in general; and the impact of inflation. Furthermore, if the forward-looking statements contained in this article 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 article represent our views as of the date of this article. 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 article.
MissionIR is primarily focused on strategic communications. We have executed countless communications programs to address the needs of companies ranging from start-ups to established industry leaders, gaining valuable experience and the expertise necessary to determine the most effective strategy for any given situation.
For more information, visit www.MissionIR.com