Eric Schmidt's SandboxAQ aims for $5B valuation for its AI/quantum Google moonshot
- SandboxAQ was spun out of Alphabet as an independent company in March 2022.
- The startup seeks to raise funds to reach a valuation of $5 billion, following a previous round of $500 million led by notable investors.
- With a focus on software applications based on quantum physics, SandboxAQ shows promise in diverse sectors, attracting significant venture capital interest.
In March 2022, SandboxAQ, an AI and quantum computing startup, spun out from Alphabet and is currently seeking a $5 billion valuation in its latest funding round. This follows a $500 million investment in February 2023 that valued the company at approximately $4 billion. Leading the venture is CEO Jack Hidary, a prominent figure in the tech space, with Eric Schmidt, the former Google CEO, as chairman. SandboxAQ focuses on developing software influenced by quantum physics to model molecular behavior, rather than constructing quantum computers. The startup has established a diverse portfolio, tackling applications in life sciences, cybersecurity, and materials science, including projects with the U.S. Air Force and various hospitals on innovative medical devices. This approach signifies a shift from traditional AI applications, embracing large quantitative models instead of large language models. The investment interest from venture capitalists highlights the growing excitement around SandboxAQ, likely indicating its future potential in the AI industry.