PYMNTS.com October 18, 2024
Artificial intelligence startup SandboxAQ is reportedly plotting a fundraise that would value the company at $5 billion.
The company, which spun off from Google parent company Alphabet, is in talks with possible investors about the equity funding round, Bloomberg reported Friday (Oct. 18), citing unnamed sources.
SandboxAQ, which develops AI and cybersecurity services, said two years ago that it raised $500 million without revealing a valuation, per the report. The company’s technology combines AI and quantum physics, training its AI using large numerical data — rather than with language, the way chatbots like ChatGPT work.
The largest of the company’s three business units makes simulation software based on AI and quantum algorithms to make drug discovery faster and develop new...
Today's Sponsors
Today's Sponsor