Quantum AI startup SandboxAQ valued at $5.3 billion after $300 million fundraising

The investers include New York-based investment firm Fred Alger Management, T. Rowe Price, and Breyer Capital. The funds will be used to facilitate the development of advanced artificial intelligence systems for computation. In 2022, SandboxAQ was spun off from Alphabet to become an independent startup, with former Google CEO Eric Schmidt serving as chairman.