D-Wave Quantum Inc. (NYSE: QBTS) (“D-Wave” or the “Company”), a
leader in quantum computing systems, software, and services and the
world’s first commercial supplier of quantum computers, today
announced it is set to join the broad-market Russell
3000® Index at the conclusion of the 2024 Russell US
Indexes annual Reconstitution, effective at the open of US equity
markets on Monday, July 1st, 2024, according to a preliminary list
of additions posted on Friday, May 24th, 2024.
The annual Russell US Indexes Reconstitution captures the 4000
largest US stocks as of Tuesday, April 30th, 2024, ranking them by
total market capitalization. Membership in the US all-cap Russell
3000® Index, which remains in place for one year, means automatic
inclusion in the large-cap Russell 1000® Index or
small-cap Russell 2000® Index as well as the
appropriate growth and value style indexes. FTSE Russell, a
prominent global index provider, determines membership for its
Russell indexes primarily by objective, market-capitalization
rankings, and style attributes.
“It’s an honor for D-Wave to join the Russell 3000 Index, an
important benchmark for the US stock market,” said Dr. Alan Baratz,
CEO of D-Wave. “This recognition reflects D-Wave’s leadership in
ushering in the era of commercial quantum computing and will
greatly increase visibility among the global investor community for
the innovative quantum solutions we’re bringing to market.”
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. According to the data as of the end
of December 2023, about $10.5 trillion in assets are benchmarked
against the Russell US indexes, which belong to FTSE Russell.
“Russell indexes—now in their 40th year—continue to evolve to
reflect the dynamic US economy. Annual rebalancing plays a vital
role in establishing accurate benchmarks, ensuring they correctly
mirror their designated market segments and remain unbiased in
terms of size and style,” said Fiona Bassett, CEO of FTSE Russell,
an LSEG Business.
For more information on the Russell 3000® Index and the Russell
indexes Reconstitution, go to the “Russell Reconstitution” section
on the FTSE Russell website.
About D-Wave Quantum 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
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 has been used by some of
the world’s most advanced organizations including Mastercard,
Deloitte, Davidson Technologies, ArcelorMittal, Siemens
Healthineers, Unisys, NEC Corporation, Pattison Food Group Ltd.,
DENSO, Lockheed Martin, Forschungszentrum Jülich, University of
Southern California, and Los Alamos National Laboratory.
About FTSE Russell
FTSE Russell is a leading global provider of benchmarking,
analytics, and data solutions for investors, giving them a precise
view of the market relevant to their investment process. A
comprehensive range of reliable and accurate indexes provides
investors worldwide with the tools they require to measure and
benchmark markets across asset classes, styles, or strategies.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. For over 30 years,
leading asset owners, asset managers, ETF providers and investment
banks have chosen FTSE Russell indexes to benchmark their
investment performance and create ETFs, structured products, and
index-based derivatives.
FTSE Russell is focused on applying the highest industry
standards in index design and governance, employing transparent
rules-based methodology informed by independent committees of
leading market participants. FTSE Russell fully embraces the IOSCO
Principles, and its Statement of Compliance has received
independent assurance. Index innovation is driven by client needs
and customer partnerships, allowing FTSE Russell to continually
enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit
https://www.lseg.com/en/ftse-russell.
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. These
forward-looking statements are subject to a number of risks and
uncertainties, including, among others, various factors beyond
management’s control, including the risks set forth under the
heading “Risk Factors” discussed under the caption “Item 1A. Risk
Factors” in Part I of our most recent Annual Report on Form 10-K or
any updates discussed under the caption “Item 1A. Risk Factors” in
Part II of our Quarterly Reports on Form 10-Q and in our other
filings with the SEC. 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 us
on the date hereof. We undertake no duty to update this information
unless required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240528842311/en/
D-Wave Alex Daigle media@dwavesys.com
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