Quantum AI startup SandboxAQ recently announced the successful completion of its Series E funding round, raising $450 million. This round attracted investment from industry giants including Google, Nvidia, and BNP Paribas, bringing SandboxAQ's total funding to $950 million. The company stated that the funds will be used to accelerate the development of its large-scale quantum models and foster collaborations across various industries.
Image Source Note: Image generated by AI, licensed through Midjourney
Founded in 2022 as a spin-off from Alphabet Inc. (Google's parent company), SandboxAQ leverages quantum computing to develop quantum AI models. These models are trained in physics, chemistry, and mathematics, enabling complex computations and analyses. SandboxAQ highlights the potential applications of its quantum models in various fields, including drug discovery and financial modeling, particularly within biopharmaceuticals, chemistry, materials science, cybersecurity, and financial services.
Early adopters of these quantum models include the University of California, San Francisco, Sanofi, Aramco, the Michael J. Fox Foundation, and branches of the US Army and Air Force.
Olivier Osty, Head of Global Markets at BNP Paribas, stated in the announcement: "Artificial intelligence and advanced computing are having a profound impact on financial services, and BNP Paribas Global Markets is pleased to be at the forefront of this trend. I look forward to collaborating with SandboxAQ to explore innovative solutions at the intersection of AI and quantum technologies."
This funding round marks another step towards SandboxAQ's mission to broaden the application of large-scale quantum models across industries. Earlier this year, SandboxAQ partnered with Google Cloud, making its quantum model products available to developers on Google Cloud's infrastructure. Additionally, in November 2023, SandboxAQ collaborated with Nvidia to simulate chemical reactions, aiding in the development of new materials and compounds and accelerating drug discovery.
Key Highlights:
🌟 SandboxAQ successfully secured $450 million in Series E funding, attracting investment from industry leaders like Google and Nvidia.
🚀 The company develops quantum AI models using quantum computing technology, with applications in drug discovery, financial modeling, and more.
🤝 SandboxAQ has partnered with Google Cloud and Nvidia to promote its quantum model products and accelerate research and development.
