D-Wave Quantum Set to Join Russell 3000 Index – HPCwire

PALO ALTO, Calif., May 28, 2024 D-Wave Quantum Inc., a leader in quantum computing systems, software, and services and the worlds 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.

Its 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-Waves 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 were 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 indexesnow in their 40th yearcontinue 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 worlds first commercial supplier of quantum computersand 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-Waves technology has been used by some of the worlds most advanced organizations including Mastercard, Deloitte, Davidson Technologies, ArcelorMittal, Siemens Healthineers, Unisys, NEC Corporation, Pattison Food Group Ltd., DENSO, Lockheed Martin, Forschungszentrum Jlich, University of Southern California, and Los Alamos National Laboratory.

Source: D-Wave

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D-Wave Quantum Set to Join Russell 3000 Index - HPCwire