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Al-Swaha, Leaders of Major Global Technology Companies Discuss Partnerships

Al-Swaha met with executives from Meta, Qualcomm, ServiceNow, Bhartinews, and Builder.ai in Davos. SPA
Al-Swaha met with executives from Meta, Qualcomm, ServiceNow, Bhartinews, and Builder.ai in Davos. SPA
TT
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Al-Swaha, Leaders of Major Global Technology Companies Discuss Partnerships

Al-Swaha met with executives from Meta, Qualcomm, ServiceNow, Bhartinews, and Builder.ai in Davos. SPA
Al-Swaha met with executives from Meta, Qualcomm, ServiceNow, Bhartinews, and Builder.ai in Davos. SPA

Saudi Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Swaha held several meetings in Davos with leaders of major international technology companies to discuss the expansion of their projects and innovative solutions in the Kingdom.

The meetings came as part of the Kingdom's participation in the annual meeting of the World Economic Forum in Davos, Switzerland.

Al-Swaha met with executives from Meta, Qualcomm, ServiceNow, Bhartinews, and Builder.ai.

Al-Swaha also held talks with Japanese Minister of Digital Transformation Taro Kano.

The ministers discussed strengthening the strategic partnership between the two friendly countries, joint initiatives, and ways to deepen cooperation in the areas of supporting the growth of the digital economy, innovation, digital entrepreneurship, and encouraging technical investments.

They also discussed the possibility of establishing joint programs to exchange expertise, support government digital transformation, and harness emerging technologies to support the digital economy.

Al-Swaha met separately with Indian Minister for Railways, Communications, and Electronics & Information Technology Ashwini Vaishnaw.
They discussed the progress made in digital and innovative initiatives within the Saudi-Indian Strategic Partnership Council, aimed at supporting the growth of the digital economy and stimulating innovation and entrepreneurship between the two countries.

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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.