- Partnership to help private industry and
government evaluate risk across finance, climate, geopolitics and
other complex systems
- Results stand to demonstrate near-term
commercial impact for quantum computing
IonQ, Inc. (“IonQ”), a leader in quantum computing, today
announced an initiative in partnership with GE Research to explore
the impact of quantum computing and IonQ’s quantum computers in the
pivotal field of risk analysis. The initiative is expected to lay
the groundwork for risk management across key sectors including
finance, government and others.
“Globally, we’re grappling with incredibly complex systems that
impact financial markets, supply chains, and daily business
operations; the organizations that do not understand their exposure
to risks within these complex systems are increasingly vulnerable,”
said Peter Chapman, CEO and President of IonQ. “As we explore how
quantum computing could help us calculate — and correct for — these
risks, we’re proud to partner with GE, whose forward-thinking team
sees that the rise of data availability pairs naturally with
quantum computers to find new solutions to these management
challenges.”
In the wake of COVID-19, risk management and resilience have
become more important than ever. Recent findings show organizations
across industries are in need of stronger risk analysis surrounding
finance, cybersecurity, third-party relationships and more. With
IonQ and GE Research’s new partnership, this analysis could be made
possible by the use of copulas in quantum computing. Copulas have a
flexible way of depicting relationships between variables; the
models are well suited to measure information from multiple sets of
random data inputs and distill them into a single variable. Because
quantum hardware is uniquely suited to this type of analysis, the
teams aim to explore breakthrough implications for risk management
solutions.
“Quantum computing has the potential to accelerate disruptive
innovation for many industries,” said Dave Vernooy, a Senior
Executive and Digital Technologies Leader at GE Research. “A big
focus for us is finding ways to make quantum real across our
industries. We can do this by collaborating with leading quantum
computing vendors such as IonQ to show how quantum-based approaches
can help organizations better model risk and its impacts, and we’re
excited to see how this work can be extended into classification,
machine learning and network partitioning.”
The announcement of this partnership is another sign of IonQ’s
significant momentum in the last year. It recently became the only
supplier whose quantum computers are available via all of the major
cloud providers and demonstrated in collaboration with QCWare the
power of quantum machine learning algorithms to transform natural
language processing, decision-making, customer recommendations and
fraud detection. Finally, IonQ is soon to be the first
publicly-traded, pure-play quantum computing company via a merger
with dMY Technology Group, Inc. III (NYSE: DMYI).
About IonQ
IonQ, Inc. is the leader in trapped-ion quantum computing, with
a proven track record of innovation and deployment. IonQ’s next-gen
quantum computer is the world’s most powerful trapped-ion quantum
computer, and IonQ has defined what it believes is the best path
forward to scale. IonQ is the only company with its quantum systems
available through the cloud on Amazon Braket, Microsoft Azure, and
Google Cloud, as well as through direct API access. IonQ was
founded in 2015 by Christopher Monroe and Jungsang Kim based on 25
years of pioneering research. To learn more, visit
www.IonQ.com.
About GE Research
GE Research is GE’s innovation powerhouse where research meets
reality. We are a world-class team of scientific, engineering and
marketing minds working at the intersection of physics and markets,
physical and digital technologies, and across a broad set of
industries to deliver world-changing innovations and capabilities
for our customers. To learn more, visit our website at
https://www.ge.com/research/.
About dMY Technology Group, Inc. III
dMY III is a special purpose acquisition company founded by
Harry L. You and Niccolo de Masi for the purpose of effecting a
merger, capital stock exchange, asset acquisition, stock purchase,
reorganization or similar business combination with one or more
businesses or assets.
Important Information About the Merger and Where to Find
It
This communication may be deemed solicitation material in
respect of the proposed business combination between dMY III and
IonQ (the “Business Combination”). The Business Combination has
been submitted to the stockholders of dMY III and IonQ for their
approval. In connection with the vote of dMY’s stockholders, dMY
III Technology Group, Inc. III has filed relevant materials with
the SEC, including a registration statement on Form S-4, which
includes a proxy statement/prospectus. This communication does not
contain all the information that should be considered concerning
the proposed Business Combination and the other matters to be voted
upon at the annual meeting and is not intended to provide the basis
for any investment decision or any other decision in respect of
such matters. dMY III’s stockholders and other interested
parties are urged to read the definitive proxy statement, dated
August 12, 2021, and any other relevant documents that are filed or
furnished or will be filed or will be furnished with the SEC
carefully and in their entirety in connection with dMY III’s
solicitation of proxies for the special meeting to be held to
approve the Business Combination and other related matters, as
these materials will contain important information about IonQ and
dMY III and the proposed Business Combination. On or about
August 12, 2021, dMY III mailed the definitive proxy
statement/prospectus and a proxy card to each stockholder entitled
to vote at the special meeting relating to the transaction. Such
stockholders are also be able to obtain copies of these materials,
without charge, at the SEC’s website at http://www.sec.gov, at the
Company’s website at https://www.dmytechnology.com/ or by written
request to dMY Technology Group, Inc. III, 11100 Santa Monica
Blvd., Suite 2000, Los Angeles, CA 90025.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements may be made directly in this
communication. Some of the forward-looking statements can be
identified by the use of forward-looking words. Statements that are
not historical in nature, including the words “anticipate,”
“expect,” “suggests,” “plan,” “believe,” “intend,” “estimates,”
“targets,” “projects,” “should,” “could,” “would,” “may,” “will,”
“forecast” and other similar expressions are intended to identify
forward-looking statements. Forward-looking statements are
predictions, projections and other statements about future events
that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties. Many factors could
cause actual future events to differ materially from the
forward-looking statements in this press release, including but not
limited to: (i) the risk that the transaction may not be completed
in a timely manner or at all, which may adversely affect the price
of dMY’s securities; (ii) the risk that the transaction may not be
completed by dMY’s business combination deadline and the potential
failure to obtain an extension of the business combination deadline
if sought by dMY; (iii) the failure to satisfy the conditions to
the consummation of the transaction, including the approval of the
merger agreement by the stockholders of dMY, the satisfaction of
the minimum trust account amount following any redemptions by dMY's
public stockholders and the receipt of certain governmental and
regulatory approvals; (iv) the lack of a third-party valuation in
determining whether or not to pursue the proposed transaction; (v)
the inability to complete the PIPE transaction; (vi) the occurrence
of any event, change or other circumstance that could give rise to
the termination of the merger agreement; (vii) the effect of the
announcement or pendency of the transaction on IonQ’s business
relationships, operating results and business generally; (viii)
risks that the proposed transaction disrupts current plans and
operations of IonQ; (ix) the outcome of any legal proceedings that
may be instituted against IonQ or against dMY related to the merger
agreement or the proposed transaction; (x) the ability to maintain
the listing of dMY’s securities on a national securities exchange;
(xi) changes in the competitive industries in which IonQ operates,
variations in operating performance across competitors, changes in
laws and regulations affecting IonQ’s business and changes in the
combined capital structure; (xii) the ability to implement business
plans, forecasts and other expectations after the completion of the
proposed transaction, and identify and realize additional
opportunities; (xiii) the risk of downturns in the market and the
technology industry including, but not limited to, as a result of
the COVID-19 pandemic; and (xiv) costs related to the transaction
and the failure to realize anticipated benefits of the transaction
or to realize estimated pro forma results and underlying
assumptions, including with respect to estimated stockholder
redemptions. The foregoing list of factors is not exhaustive. You
should carefully consider the foregoing factors and the other risks
and uncertainties described in the “Risk Factors” section of the
registration statement on Form S-4 and other documents filed by dMY
from time to time with the SEC. These filings identify and address
other important risks and uncertainties that could cause actual
events and results to differ materially from those contained in the
forward-looking statements. Forward-looking statements speak only
as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and dMY and IonQ
assume no obligation and do not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise. Neither dMY nor IonQ gives any
assurance that either dMY or IonQ, or the combined company, will
achieve its expectations.
No Offer or Solicitation
This communication is for informational purposes only and does
not constitute an offer or invitation for the sale or purchase of
securities, assets or the business described herein or a commitment
to the Company or the IonQ with respect to any of the foregoing,
and this communication shall not form the basis of any contract,
nor is it a solicitation of any vote, consent, or approval in any
jurisdiction pursuant to or in connection with the Business
Combination or otherwise, nor shall there be any sale, issuance or
transfer of securities in any jurisdiction in contravention of
applicable law.
Participants in Solicitation
dMY III and IonQ, and their respective directors and executive
officers, may be deemed participants in the solicitation of proxies
of dMY III’s stockholders in respect of the Business Combination.
Information about the directors and executive officers of dMY III
is set forth in the Company’s Form dMY III’s filings with the SEC.
Information about the directors and executive officers of IonQ and
more detailed information regarding the identity of all potential
participants, and their direct and indirect interests by security
holdings or otherwise, are set forth in the definitive proxy
statement/prospectus for the Business Combination. Additional
information regarding the identity of all potential participants in
the solicitation of proxies to dMY III’s stockholders in connection
with the proposed Business Combination and other matters to be
voted upon at the special meeting, and their direct and indirect
interests, by security holdings or otherwise, are included in the
definitive proxy statement/prospectus.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210923005269/en/
For IonQ: ionq@missionnorth.com
For GE Research: Todd Alhart Todd.alhart@ge.com
For dMY III: Investor Contact: Niccolo de Masi dMY
Technology Group, Inc. III niccolo@dmytechnology.com
310-600-6667
Media Contact: ICR Inc. dmypr@icrinc.com
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