- Quantum computing aspiring firm Sandbox AQ spun off from Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL), procured “nine figures” of funding, and signed several clients for its cybersecurity services, Reuters reports.
- Sandbox’s investors include Schmidt, Breyer Capital, T. Rowe Price funds, and Salesforce.com Inc (NYSE: CRM) founder Marc Benioff’s TIME Ventures.
- Sandbox would use cloud computing from Google Cloud and others.
- Sandbox AQ, backed by Google CEO Eric Schmidt as its Chair, is a leading startup pursuing software that would operate partially on quantum computers.
- Sandbox also neared deals to sell quantum simulation software to accelerate the development of drugs and materials potentially,
- Sandbox could commercialize projects over the next three years, including using AI to analyze data from quantum-based sensors to improve medical imaging and enable navigation by tracking magnetic fields.
- Price Action: GOOG shares traded higher by 2.69% at $2,802.73 on the last check Tuesday.
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