SandboxAQ has announced a funding round of over 300 million dollars to accelerate the development of its Large Quantitative Models and AI solutions. The company, which emerged from Alphabet Inc, is valued at 5.3 billion dollars on a pre-money basis. Investors include Fred Alger Management, T Rowe Price Associates, Mumtalakat, and prominent individuals such as Eric Schmidt, Marc Benioff, and Yann LeCun. SandboxAQ's Large Quantitative Models are designed to solve complex science and business problems in industries such as aerospace, biopharma, and finance.
The company's CEO, Jack D Hidary, believes that LQMs are the next wave of AI and will have a deep impact at scale. With this funding, SandboxAQ plans to drive innovation in areas such as drug discovery, materials science, and navigation, and has already made significant strides in these fields through its divisions, including AQBioSim and AQChemSim.
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