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Health Populi December 18, 2024
Quantum-Focused AI Firm SandboxAQ Surpasses $5 Billion Valuation Goal
PYMNTS.com December 18, 2024
SandboxAQ raised more than $300 million to apply quantum technology to artificial intelligence.
The funding round puts the company’s valuation at over $5.6 billion, Bloomberg reported Wednesday (Dec. 18).
Tech-focused venture capital companies have made AI a priority, and SandboxAQ tries to stand out by adopting methods that differ from the approaches used by companies such as OpenAI, according to the report.
The company runs quantum physics algorithms on graphics processing units (GPUs), with the goal of moving to more advanced machines, the report said.
“Our software today can run on GPUs, and in the future, we can also start to incorporate quantum processing units, QPUs,” CEO Jack Hidary said in an interview, per Bloomberg. “At SandboxAQ, the AQ stands...
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