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SEOUL - D-Wave Quantum Inc. (NYSE: QBTS), a quantum computing company with a market capitalization of $5 billion and impressive year-to-date gains of over 90%, has signed a memorandum of understanding with Yonsei University and Incheon Metropolitan City to advance quantum computing adoption in South Korea, according to a press release statement. According to InvestingPro data, the company maintains strong gross profit margins of 83%.
The agreement outlines plans for collaborative research, talent development, and technology access. The organizations are working toward acquiring a D-Wave Advantage2 quantum computing system to be installed at Yonsei University’s International Campus in Songdo, Incheon.
The partnership aims to develop quantum computing applications in biotechnology and materials science, among other fields. This initiative comes after Yonsei University completed construction of its Quantum Convergence Research Center in February 2025.
"This strategic relationship marks an important step in furthering D-Wave’s mission to accelerate global quantum computing adoption," said Dr. Alan Baratz, CEO of D-Wave.
Dong-Sup Yoon, president of Yonsei University, stated the collaboration supports their mission to "facilitate a collaborative ecosystem for quantum computing literacy, research and commercial application development."
Yoo Jeong-bok, mayor of Incheon Metropolitan City, expressed intentions to establish Incheon as a "global quantum hub" by leveraging the city’s strengths in the bio industry.
D-Wave describes itself as the world’s first commercial supplier of quantum computers and the only company building both annealing and gate-model quantum systems. The company reports that over 100 organizations currently use its technology for various computational challenges.
The agreement represents a significant step in expanding quantum computing infrastructure in South Korea, potentially creating new opportunities for scientific research and commercial applications in the region.
In other recent news, D-Wave Quantum Inc. announced it has secured approximately $95.8 million through the exercise of warrants to purchase shares of its common stock. This financial activity occurred between May 29 and June 3, involving around 8.33 million warrants at an exercise price of $11.50 each. These warrants were initially assumed by D-Wave Quantum as part of its merger with DPCM Capital, Inc., completed in August 2022. Additionally, D-Wave Quantum has launched its new Advantage2 quantum computing system, which is now generally available. The new system features over 4,400 qubits and is designed to tackle complex computational problems beyond the reach of classical computers. It integrates with the company’s Leap real-time quantum cloud service and supports applications in optimization, materials science, and artificial intelligence. Furthermore, B.Riley has maintained its Buy rating on D-Wave Quantum with a price target of $13, following the release of the Advantage2 system. The company plans to expand its fleet of quantum computers globally, with successful use cases already reported in various sectors.
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