Alphabet spinoff SandboxAQ nabs $500M

 

AI and quantum computing startup SandboxAQ secured $500M in fresh funding.  Investors in the firm include former Google CEO Eric Schmidt — who is also the firm's chairman, Breyer Capital, T. Rowe Price funds, and TIME Ventures.  The firm spun out from Alphabet in March last year. Google is not a shareholder in the company as it wants it to collaborate with other cloud providers as well. SandboxAQ aims to bring AI and quantum computing to the telecom, financial services, health care, and security sectors.  The firm already has over 15 enterprise and government clients.  The U.S. Air Force gave SandboxAQ a contract to research quantum technologies last month.  Its simulation software is currently used to accelerate drug development.