This announcement, claims:
Every additional qubit doubles the search space of the processor. At 1000 qubits, the new processor considers 2^1000 possibilities simultaneously, a search space which dwarfs the 2^512 possibilities available to the 512-qubit D-Wave Two.
Since we still aren't able to factor any large numbers with it, those 2^1000 bits don't really work like they say they do. I'm guessing there are many caveats behind their description.
I would appreciate any explanation from an expert.