SandboxAQ, an American quantum artificial intelligence startup, recently announced that it has completed more than US$300 million in financing, with the company's valuation soaring to US$5.6 billion, attracting industry attention. This huge amount of financing will be mainly used to develop its large-scale quantitative models (LQMs) and other artificial intelligence applications to expand into many fields such as healthcare and finance. SandboxAQ was born out of Alphabet, the parent company of Google, and is chaired by former Google CEO Eric Schmidt. Its business scope covers many fields such as network security, encryption and life sciences, and is committed to using advanced AI technology to solve practical problems.
The financing was led by well-known investment companies such as Fred Alger Management, T. Rowe Price and Breyer Capital. CEO Jack Hidary emphasized that SandboxAQ's LQMs are different from currently popular language models and focus more on quantitative relationships, which reflects its unique insight into the development direction of AI technology. The company plans to use the funds to build new modules for specific application scenarios for large enterprise customers and further expand its applications in areas such as drug discovery and materials science.
In addition, SandboxAQ raised US$500 million last year to build a quantum computing platform. Jim Breyer, founder of Breyer Capital, believes that SandboxAQ can train quantitative models on existing hardware and is expected to benefit from future breakthroughs in the field of quantum chips. Google’s recently released new quantum chip “Willow” has also injected new vitality into the development of this field.
SandboxAQ became independent from Alphabet in 2022, and its services cover multiple fields, including cybersecurity, encryption and life sciences.
Highlight:
SandboxAQ successfully raised US$300 million and its valuation reached US$5.6 billion.
Funds will be used to accelerate the development of quantitative models and multi-industry AI applications.
The company is led by former Google executive Eric Schmidt and operates in areas such as cybersecurity and life sciences.
SandboxAQ’s successful financing and its unique technical route herald new development opportunities in the field of quantum artificial intelligence. The company's application exploration in multiple fields such as medical care and finance will have a profound impact on future technological development. We look forward to SandboxAQ making greater breakthroughs in the field of artificial intelligence in the future.