SandboxAQ, an AI and quantum computing startup, recently raised $150 million in additional funding from investors including Alphabet Inc (NASDAQ:GOOG), Nvidia Corp (NASDAQ:NVDA, ETR:NVD), and BNP Paribas.
This investment brings its Series E funding total to $450 million and values the company at $5.75 billion.
Total funding reaching has reached $950 million, with other backers including T. Rowe Price Associates and Breyer Capital.
"We've proven ourselves from the first round in terms of delivering on our promises to a number of customers, and I think strategic investors were attracted to those breakthroughs," SandboxAQ CEO Jack Hidary told Reuters.
SandboxAQ was spun off from Google's parent company Alphabet in 2022.
The startup focuses on developing Large Quantitative Models that process vast numerical datasets for applications such as drug discovery, financial strategy development, and cybersecurity. Its LQMs are optimized for high-performance computing platforms like Nvidia GPUs and Google Cloud.