Deals
AI Startup SandboxAQ Seeks Funding at Over $5 Billion Valuation
- The Alphabet spinoff is backed by Eric Schmidt, Marc Benioff
- SandboxAQ’s technology combines AI with quantum physics
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SandboxAQ, a startup spun off from Alphabet Inc., is seeking to raise new equity funding at a valuation of more than $5 billion, according to people with knowledge of the matter.
The company is in discussions with prospective investors, said the people, who asked not to be identified because the talks are confidential. The more than $5 billion valuation figure represents a pre-money basis, meaning it doesn’t include the sum that is raised. Terms of the transaction haven’t been finalized.