Topics
tardy
AI
Amazon
Image Credits:Michel Porro / Getty Images
Apps
Biotech & Health
clime
Image Credits:Michel Porro / Getty Images
Cloud Computing
Department of Commerce
Crypto
Enterprise
EVs
Fintech
fundraise
Gadgets
stake
Government & Policy
ironware
layoff
Media & Entertainment
Meta
Microsoft
Privacy
Robotics
Security
Social
place
Startups
TikTok
transportation system
speculation
More from TechCrunch
result
Startup Battlefield
StrictlyVC
Podcasts
Videos
Partner Content
TechCrunch Brand Studio
Crunchboard
Contact Us
VCs are spending gobs of money on AI startups — particularly those run by big name in tech — so SandboxAQ is putting its hand out again , even though it raised a thumping $ 500 million in other 2023 .
The spinout from Google parent company Alphabet is reportedly seek to raise another round that would value it at $ 5 billion , sources tell Bloomberg . Its last $ 500 million round , completed in February 2023 , had backer like Breyer Capital , T. Rowe Price pecuniary resource , and Marc Benioff , Reutersreported at the time . PitchBook reckon its valuation after that unit of ammunition to be $ 4 billion .
SandboxAQ begin as Alphabet ’s moonshot AI quantum calculation building block conduct by Jack Hidary , also known as a longtime X Prize board member . It was spin out out of Alphabet into an autonomous startup in March 2022 , with Hidary as CEO . Billionaire and former Google CEO Eric Schmidt became the startup ’s chairman .
Its missionary station is a veritable alphabet soup of buzzwords : to work at the intersection of quantum computing and AI . But it is not build a quantum computer , although its package products should one day work with them , Hidary said on a late instalment of thePeter H. Diamandis podcast . Instead , it ’s ramp up software program based on quantum physics that can model molecules and make foretelling of their behavior . Google is stillworking on the quantum computerpart , but Hidary says SandboxAQ already has a number of quantum computing partnerships .
The startup has its hand in a big and jolly raving mad assortment of products across life science , material science , seafaring , encoding , and cybersecurity .
It is not forge with AI of the generative AI ChatGPT chatbot variety . Instead of predicting lyric , it is using large modeling AI proficiency on equations . Or as Hidary explained , “ Instead of the world of expectant speech modeling , we ’ve now entered the cosmos of large quantitative poser , LQMs . And LQMs are about starting with equations to generate data . … That ’s the most efficient way to generate data , and the most accurate way of life to generate data . ”
To that end , it already has a list of telling developmental contracts . For case , it is work on how to extend lithium - ion battery life with battery company Novonix ; it has a contract with the U.S. Air Force to train charismatic navigation system that do n’t rely on GPS ; and it ’s working with a number of U.S. hospital on an AI - powered “ magnetocardiography system , ” a new variety of medical gimmick for imaging the ticker , among other projects .
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
So , this AI is swing for large fences than write term papers or creating deepfake video .
Interestingly , there are some indicators that SandboxAQ could become one of the AI companies that VCs are eager to back . Throughout the year , a identification number of investorshave set up extra purpose vehicles(SPVs ) for the company ’s shares . As we previously report , such SPVs have become a blistering fiscal toolbecause so many investors are eager to get a piece of big - name AI startups .
SandboxAQ did not directly reply to our request for remark .
