Quantum startup SandboxAQ announced that its large quantitative models (LQMs) will now be accessible on Google Cloud, the company informed Reuters on Tuesday. As cloud providers increasingly turn to AI technology to drive expansion, LQMs are specifically crafted to manage extensive numerical datasets, conduct intricate computations and statistical analyses, and support the creation of sophisticated financial models or automation of trading strategies.
This collaboration will simplify the process for enterprises to utilize Google Cloud for developing and deploying their LQMs, enabling Sandbox – a company spun off from Google-parent Alphabet in 2022 – to broaden its platform's reach to a wider range of potential clients.
According to SandboxAQ CEO Jack Hidary, "More than 80% of the economy is run by math and quantitative relationships. And that's where quantitative AI really shines, and it's very complementary to language models."
This marks the first occasion Sandbox will offer its models on a third-party platform. The Palo Alto-based startup recently secured funding, elevating its valuation to $5.6 billion and attracting investments from firms like Fred Alger Management, T. Rowe Price, and Breyer Capital.
SandboxAQ noted that its models are leveraged in industries such as life sciences, financial services, and navigation. Google has been escalating its quantum computing initiatives and revealed in December a breakthrough in developing a new generation of quantum chips.
Microsoft also highlighted the potential of quantum computing recently, unveiling its "Quantum Ready program" while indicating practical application of the technology may surface in the next two decades.