Quantum startup SandboxAQ is making its large quantitative models (LQMs) available on Google Cloud. Cloud providers such as Google are turning to AI technology to drive growth.
LQMs are designed to process large-scale numerical data sets, perform complex calculations and statistical analysis. They can additionally be used to develop sophisticated financial models. Or to automate trading strategies.
Broader customer base
The collaboration makes it easier for companies to use Google Cloud to develop and deploy their LQMs. This allows SandboxAQ, which was spun off from Google parent company Alphabet in 2022, to make its platform accessible to a broader group of potential customers. SandboxAQ reported that its models are used in life sciences, financial services and navigation sectors.
According to Jack Hidary, CEO of SandboxAQ, more than 80% of the economy runs on math and quantitative relationships. And that, according to him, is where quantitative AI excels. It would be a perfect complement to language models.
This is the first time Sandbox has made its models available through an external platform. The Palo Alto-based startup raised $300 million in a funding round last month, which raised the company’s valuation to $5.6 billion. Investment firms such as Fred Alger Management, T. Rowe Price, and Breyer Capital backed the round.
New generation of quantum chips
Google has stepped up its efforts in quantum computing. The company announced in December that it had significantly progressed in developing a new generation of quantum chips. And thereby overcoming a major challenge in the field.
Microsoft also highlighted the potential of quantum computing this month, unveiling its Quantum Ready program. This is while Nvidia CEO Jensen Huang correctly stated that practical use of the technology is probably two decades away.