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Saudi Arabia, China Discuss Efforts to Boost Technological Partnership

The Saudi and Chinese delegations meet in Beijing. (SPA)
The Saudi and Chinese delegations meet in Beijing. (SPA)
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Saudi Arabia, China Discuss Efforts to Boost Technological Partnership

The Saudi and Chinese delegations meet in Beijing. (SPA)
The Saudi and Chinese delegations meet in Beijing. (SPA)

Saudi Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Swaha met with Beijing Mayor Yin Yong to discuss developing a partnership between the Kingdom and China in technology, space and innovation.

The officials in Beijing discussed partnerships in the field of smart city technologies and efforts to develop technological competencies and facilities for Saudi entrepreneurial companies to enter the markets of Beijing, as well as the exchange of expertise in several technological areas, mainly digital entrepreneurship and legislation related to the digital economy growth.

Vice Minister of Communications and Information Technology Haytham Al-Ohali and Saudi Ambassador to China Abdulrahman Al-Harbi also attended the meeting.

Al-Swaha also met with Chinese Minister of Science and Technology Wang Zhigang.

They discussed ways of expanding partnerships in research, development and innovation, especially in fields related to health, environmental sustainability, energy, industry and economics of the future, which is in line with the national priorities for research, development and innovation launched by the Kingdom.

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Google Adds SandboxAQ's Quantitative AI Models to Cloud Offerings

The logo of Google is seen outside Google Bay View facilities during the Made by Google event in Mountain View, California, US August 13, 2024. REUTERS/Manuel Orbegozo/File photo
The logo of Google is seen outside Google Bay View facilities during the Made by Google event in Mountain View, California, US August 13, 2024. REUTERS/Manuel Orbegozo/File photo
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Google Adds SandboxAQ's Quantitative AI Models to Cloud Offerings

The logo of Google is seen outside Google Bay View facilities during the Made by Google event in Mountain View, California, US August 13, 2024. REUTERS/Manuel Orbegozo/File photo
The logo of Google is seen outside Google Bay View facilities during the Made by Google event in Mountain View, California, US August 13, 2024. REUTERS/Manuel Orbegozo/File photo

Quantum startup SandboxAQ said its large quantitative models (LQMs) will be available on Google Cloud, the company told Reuters on Tuesday, as cloud providers look to AI tech to fuel growth.

LQMs are designed to handle large-scale numerical datasets, perform complex calculations and statistical analysis, and can be used to develop sophisticated financial models or to automate trading strategies.

The partnership will make it easier for enterprises to use Google Cloud to develop its LQMs and deploy them, allowing Sandbox, a firm spun off from Google-parent Alphabet in 2022, to expand the distribution of its platform to a larger pool of potential customers.

"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," CEO SandboxAQ, Jack Hidary said.

This is the first time Sandbox will have its models available on a third-party platform.

The Palo Alto-based startup secured $300 million in a funding round last month, boosting its valuation to $5.6 billion and was backed by investor firms including Fred Alger Management, T. Rowe Price, and Breyer Capital.

SandboxAQ said its models are used in sectors such as life sciences, financial services and navigation.

Google has been intensifying its efforts in quantum computing and announced in December that it had made significant progress by developing a new generation of quantum chips, overcoming a major challenge in the field.

Microsoft also touted the potential of quantum computing earlier this month and unveiled its "Quantum Ready program", while Nvidia's CEO Jensen Huang said the technology's practical use was likely two decades away.