SandboxAQ raised over $450 million in a Series E funding round to support its development of large quantitative models that will help enterprises use artificial intelligence to solve scientific and quantitative challenges.
Since spinning out from Alphabet in 2022, the mentioned company has been able to raise over $950 million. The relevant information is contained in a press release published by SandboxAQ.
The specified press release noted that the company’s new investors include Nvidia, Google, BNP Paribas, Horizon Kinetics, and Ray Dalio, the founder of Bridgewater Associates.
Olivier Osty, head of corporate and institutional banking global markets at BNP Paribas, stated that artificial intelligence and advanced computing have a powerful impact on financial services, and this bank is proud to be at the forefront of the corresponding trend. Mr. Osty also noted that he looks forward to working with SandboxAQ to explore innovative solutions at the crossroads of AI and quantum technologies.
Chris Hume, senior director of business operations for SandboxAQ, said during a conversation with media representatives in February last year that the merger of artificial intelligence with quantum computing could have significant implications for financial services and other verticals. It was also noted that the physical world is determined by quantum mechanics, and the better people can understand these interactions and then model them, the more effectively predictive models will be developed.
SandboxAQ originated at Alphabet in 2016 and was spun off in 2022 to independently offer machine intelligence and quantum computing software to companies.
As we have reported earlier, Together AI Raises $305 Million.
