Sandbox AQ was founded in 2016 by Jack Hidary, though the public launch was announced on March 11, 2022 when the company formally spun off from Google. The company has not publicly endorsed plans to participate in an IPO.
SandboxAQ is the developer of AI and quantum computing solutions for commercial applications. While Hidary acknowledges that "fault-tolerant quantum computers won’t be commercially available for a decade or more," SandboxAQ is developing software for the federal government, the finance and healthcare sectors, and a range of other industries. In February 2023, the company announced $500 million in venture capital funding from investors including Eric Schmidt, Breyer Capital, T. Rowe Price, Salesforce, and TIME Ventures. As of May 2023, SandboxAQ has not disclosed valuation figures.
These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.