The firm, which originated from Google’s parent company Alphabet, is currently in discussions with potential investors regarding this equity funding round, as reported by Bloomberg on October 18, citing anonymous sources.
SandboxAQ specializes in AI and cybersecurity solutions and announced two years ago that it had secured $500 million in funding, although it did not disclose its valuation at that time. The company’s technology integrates AI with quantum physics, utilizing extensive numerical data for training its AI, in contrast to the language-based training methods employed by chatbots like ChatGPT.
The largest segment of SandboxAQ’s three business units focuses on simulation software that leverages AI and quantum algorithms to accelerate drug discovery and enhance new chemistries for products such as batteries, according to the report.
Earlier this year, Chris Hume, senior director of business operations for SandboxAQ, discussed the company’s initiatives in an interview. He stated, “The physical world is defined by quantum mechanics. The more effectively we can understand those interactions and model them, the more efficiently we can create predictive models. By combining the algorithms we are developing with today’s classical computer hardware, we can produce superior predictive models, which is an exciting prospect and a significant opportunity.”
In related AI developments, Apple has raised concerns about the mathematical capabilities of large language models, which challenges the notion that AI is nearing human-like reasoning. Selmer Bringsjord, a professor at Rensselaer Polytechnic Institute, remarked to PYMNTS that “any real-world application requiring verifiable reasoning is essentially beyond the consistent reach of an LLM,” highlighting the distinction between AI and traditional computing.
A calculator on your smartphone is capable of performing tasks that a large language model cannot. If an individual seeks to ensure the accuracy of a calculation requested from their iPhone, Apple has the ability to confirm or refute that result with certainty and consistency, he stated.