SandboxAQ is looking at the related effects of both AI and quantum ' which is where the company gets the 'AQ' in its name ' to develop commercial products for telecom, financial services, healthcare, security and other computationally intensive sectors. The company already is working with a handful of customers on enterprise software and cybersecurity tools related to quantum computing. In March 2022, Alphabet officially spun off its 6-year-old quantum tech group ' SandboxAQ ' which emerged as its own company after closing a $500 million financing round and naming former Google CEO Eric Schmidt chairman. Investors in the round include Breyer Capital, Eric Schmidt, Thomas Tull, First Light Capital Group, funds and accounts advised by T. Rowe Price Associates, Guggenheim Investments, Time Ventures, S32, Parkway Venture Capital and other funds and investors.
learn more
