How to invest in SandboxAQ stock pre-IPO
While LLMs have been all the rage in recent years, SandboxAQ is taking a different approach. The company focuses on large quantitative models (LQMs), which use information from real-world physics and other areas of science and math. That could then enable LQMs to tackle challenges in fields like cybersecurity, healthcare and navigation.3
The company, spun out of Google in 2022,4 has attracted significant attention and funding, hitting a valuation of nearly $6 billion in April 2025.5
However, in July 2025, The Information published an explosive article, claiming that "SandboxAQ's success so far is illusory."6 Some of the reported issues include complaints about the CEO's behavior and that the company forecast $90 million in 2025 revenue but only had $10 million in Q1, with 90% coming from Google co-founder Sergey Brin's foundation.7,8
Still, in the time since, SandboxAQ's valuation has largely held up,9 and it has seemingly secured several deals, such as working with the U.S. Department of War and Bahrain's government on cybersecurity solutions.10,11
No IPO plans have been announced, but for now, accredited investors may still be able to express interest in purchasing SandboxAQ stock pre-IPO through a private marketplace like Forge, subject to share availability and transfer restrictions. Retail investors may also be able to gain indirect exposure through other assets, as we'll examine in this guide.
SandboxAQ: Company background
SandboxAQ was founded in 2016 by Jack Hidary inside Alphabet. The company was then spun out into its own business in 2022. The company gets the "AQ" in its name from combining AI and quantum technologies.12
While quantum computers are still in early development and not commercially available, SandboxAQ tries to still apply quantum technology and prepare for a more quantum-driven world. For example, its AQtive Guard platform uses LQMs to try to prepare for post-quantum cryptography security.13
The company is also working in areas such as drug, chemical, and material discovery, medical diagnostics, and navigation via the Earth's magnetic field as a GPS alternative.14
SandboxAQ stock and funding history
Forge Data as of 04/20/2026
SandboxAQ has quickly raised substantial funding and seen its valuation grow in the few years since spinning out of Google. In 2022, the company raised $466.38 million at a $3.34 billion valuation and a $9.43 stock price, with investors including Google's Eric Schmidt, Breyer Capital, T. Rowe Price and TIME Ventures.15
Most recently, in April 2025, SandboxAQ completed a $450 million funding round at a $5.78 billion valuation and a $17.21 stock price. That round included a wide range of investors such as Fred Alger Management, Mumtalakat, Parkway Venture Capital, Ray Dalio, BNP Paribas, Google and Nvidia.16
Since then, SandboxAQ's Forge Price has dropped a bit to $15.25, implying a $5.12 billion valuation.17
Forge Data as of 04/20/2026
Forge Price is a derived data point that reflects the up-to-date price performance of venture-backed, late-stage companies, and is calculated based on a proprietary model incorporating pricing inputs from primary funding round information and secondary market transactions on Forge.
How to buy SandboxAQ stock
While SandboxAQ has expressed interest in going public eventually, for now its stock is not for sale to the general public. However, accredited investors may be able to identify potential trading interest in SandboxAQ stock through Forge's next-generation marketplace for private market trades, subject to availability.
Forge's technology and relationships help facilitate the trading of private company shares in companies like SandboxAQ, along with other private market tech companies.
For indirect exposure, accredited investors could also explore other alternatives such as looking at private market shares in other types of AI companies like:
- SambaNova Systems: Provides a holistic AI platform across areas like hardware, software, and models
- Dataminr: Focuses on real-time event and risk detection
- DataRobot: Provides a platform for implementing enterprise AI, such as for building and managing AI agents
- ThoughtSpot: Offers an AI-powered alternative to traditional business intelligence (BI) tools
Who can invest in SandboxAQ pre-IPO?
Generally, investment in SandboxAQ pre-IPO is limited to accredited investors, as U.S. regulations mainly limit private companies when offering securities for sale.
Some large accredited investors, such as VC funds and certain high-net-worth individuals, may be able to invest in SandboxAQ if selected to participate in primary funding rounds or strategic investment partnerships. Smaller accredited investors may choose to purchase SandboxAQ stock through a private stock marketplace like Forge, subject to the availability of shares.
Where to buy pre-IPO SandboxAQ stock
While pre-IPO SandboxAQ stock is not for sale to the general public, accredited investors may be able to find shares for sale through a private marketplace such as Forge for private market trading.
Through Forge, you can access SandboxAQ's Forge Price, which provides real-time transparency by synthesizing data from various sources, including secondary market transactions, recent funding rounds and active bids and asks on Forge.
These contextual pricing insights are intended to provide private market investors with additional background when reviewing or negotiating an existing ask, or see if they would like to create a new bid for SandboxAQ shares.
Potential indirect exposure for SandboxAQ for non-accredited investors
While retail investors may be able to invest in SandboxAQ if it goes public one day, for now, direct pre-IPO investment in SandboxAQ is generally limited to accredited investors. However, there are publicly available investment options that may provide exposure to broader trends in the AI or quantum computing sectors, which could, in turn, impact companies like SandboxAQ.
Some examples include:
1. Publicly Traded AI Companies
There are many publicly traded AI companies, ranging from chipmakers like Nvidia and AMD, to software companies like Palantir Technologies and UiPath. There's also more diversified tech giants that are heavily involved in building out AI capabilities, such as Alphabet and Meta. So, the level of overlap with SandboxAQ varies based on which companies you might decide to invest in, but in general, there could be some correlation based on how the AI market performs overall. Still, performance may vary significantly in some cases, depending on whatever market conditions and internal operational choices unfold.
2. Publicly Traded Analytics Companies
Investing in quantum computing companies like IonQ, D-Wave Quantum, or Rigetti Computing, as well as more diversified tech companies like IBM, could provide some correlation with SandboxAQ. While SandboxAQ is focused on the software side, advancement in quantum computing hardware could benefit all companies involved in this space. That said, various factors like economic conditions and technology advances could affect these stocks differently.
3. Broader Tech Sector Funds
Given SandboxAQ's partial focus on cybersecurity, there may be some areas of thematic overlap with publicly traded cybersecurity companies like Palo Alto Networks and Cisco, as well as more specialized cyber companies focused on post-quantum cryptography, like BTQ Technologies. Still, these types of companies may only partially overlap with SandboxAQ, especially since SandboxAQ has products serving other market segments. Even those that share more similarities may have differing performance depending on factors like how these companies fare in competing for customers and optimizing capital.
How to analyze SandboxAQ stock
Private companies generally do not face the same disclosure requirements as public companies, which can make analyzing SandboxAQ stock challenging.
That said, you can look at the financial data that has been publicly disclosed or reported. For example, The Information reported that SandboxAQ forecasted $90 million in 2025 revenue but had $10 million in Q1. Of that Q1 revenue, 90% reportedly came from Google co-founder Sergey Brin's foundation.18, 19, 20
So, investors might compare this information to similar AI- or quantum-related companies. That, combined with reviewing SandboxAQ's valuation data across its funding rounds and its current Forge Price, could help investors determine how SandboxAQ's stock compares to similar private companies listed on Forge's private stock marketplace.
In addition to looking at real-world market signals informing SandboxAQ's current Forge Price, investors can discover other available investments and review market interest signals in real time. Reviewing how other companies are trading on Forge may provide contextual information about private market activity and valuation for private companies like SandboxAQ. There also might be some parallels to draw with public market AI- or quantum-related companies.
Still, even when looking at what SandboxAQ has disclosed and the real-time pricing insights on Forge, private market stocks are generally more opaque than public market ones. So, there can be more subjectivity involved in analyzing SandboxAQ stock, along with the valuations of other private market companies.
Get started investing SandboxAQ on Forge
hose interested in exploring potential access to SandboxAQ shares, if and when shares become available, can start by creating a free Forge account to view opportunities for accredited investors (subject to share availability and transfer restrictions). Forge operates a leading marketplace that seeks to connect accredited investors with shareholders of private company stock.
After verifying your accreditation, you may gain access to tools and insights intended to support your experience in the private market, including active private market opportunities and a platform experience designed for independent investors. If you're unfamiliar with the process, our buyer’s guide aims to offer a helpful starting point. And should you need additional support, Forge’s knowledgeable team is available to assist.
FAQs about investing in SandboxAQ
Where do I buy SandboxAQ stock?
For now, SandboxAQ remains a private company, so its stock is generally limited to accredited investors. If eligible, however, you may be able to express interest in buying and selling SandboxAQ stock through a private marketplace such as Forge (subject to availability and restrictions).
Who can invest in SandboxAQ?
Typically, only accredited investors can invest in private market companies like SandboxAQ. This can include institutional investors such as VC firms that might participate in primary funding rounds, as well as high-net-worth individuals who may qualify to trade private market stocks in companies like SandboxAQ, subject to availability, through a secondary marketplace such as Forge.
Who are SandboxAQ's competitors?
SandboxAQ operates in a fairly niche space, but it has some competitors for different product segments, such as QuSecure competing on post-quantum cryptography and Quatinuum competing in areas such as chemistry research and cybersecurity. It also overlaps somewhat with larger tech companies like IBM, Microsoft, and its former parent Alphabet, as these companies are working at the intersection of AI and quantum computing too, though not necessarily in the same ways.
