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
TT
20

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.



Saudi, Kuwaiti AI Associations Partner to Advance Regional AI Governance

The agreement represents the first international MoU signed by the AIGA - SPA
The agreement represents the first international MoU signed by the AIGA - SPA
TT
20

Saudi, Kuwaiti AI Associations Partner to Advance Regional AI Governance

The agreement represents the first international MoU signed by the AIGA - SPA
The agreement represents the first international MoU signed by the AIGA - SPA

The Artificial Intelligence Governance Association (AIGA), under the technical supervision of the Saudi Data and AI Authority (SDAIA), has signed a memorandum of understanding with the Kuwaiti Association of Artificial Intelligence of Things.

The deal aims to foster collaboration in developing and implementing AI governance standards, sharing expertise, and driving scientific research and innovation in Artificial Intelligence of Things (AIoT).

The agreement represents the first international MoU signed by the AIGA, signaling the beginning of expanded efforts to promote the responsible governance of advanced technologies, according to SPA.

The partnership reflects the commitment of both associations to support regional initiatives in AI technology development, enhance governance frameworks, and exchange knowledge, ultimately advancing a responsible and sustainable innovation ecosystem that benefits communities and supports national and regional efforts toward a knowledge-based economy driven by advanced technologies.