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On Thu, 23 Jan, 12:07 AM UTC
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Saudi Aramco Taps Alphabet Spinoff SandboxAQ for AI Tie-Up
"We want to up-value and convert to more marketable products low-value fuels and CO2 emissions," SandboxAQ Chief Executive Officer Jack Hidary said in an interview from Davos, Switzerland. "That will help give Aramco more revenue and keep carbon out of the atmosphere." He didn't detail the terms of the deal.
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SandboxAQ and Aramco Sign AI Agreement
Enter your email to get Benzinga's ultimate morning update: The PreMarket Activity NewsletterCompanies sign agreement for the use of SandboxAQ quantitative AI models for increasing value of downstream productsAgreement follows meeting during FII8 in Riyadh PALO ALTO, Calif. and DHAHRAN, Saudi Arabia, Jan. 22, 2025 /PRNewswire/ -- SandboxAQ announced today it has signed an agreement with Aramco, one of the world's leading integrated energy and chemicals companies, to collaborate on developing a multi-GPU enabled differentiable computational fluid dynamics solver for application in oil and gas processing facilities. Designing, optimizing, and manufacturing new materials and chemicals has traditionally been challenging, slow, and expensive. SandboxAQ attempts to address these challenges by applying its Large Quantitative Models (LQMs) platform, which combines AI and physics to sample outside the known data space and connect computational methods to real-world results. This approach is intended to improve speed and accuracy, allowing products to reach the market faster and with better performance. The LQMs cover a range of techniques including large-scale quantum chemistry, generative chemistry AI, multi-parameter optimization and high-throughput quantitative data extraction. Jack D. Hidary, SandboxAQ CEO, said: "Our collaboration with Aramco brings SandboxAQ technology to address key challenges in the energy and chemicals industry. LQMs are the right tool to help Aramco lower its carbon footprint." About SandboxAQ SandboxAQ is a B2B company delivering solutions at the intersection of AI and quantum techniques. The company's Large Quantitative Models (LQMs) deliver critical advances in life sciences, financial services, navigation, and other sectors. The company emerged from Alphabet Inc. as an independent company backed by a growth capital round funded by leading investors including funds and accounts advised by T. Rowe Price Associates, Inc., IQT, US Innovative Technology Fund, Eric Schmidt, Breyer Capital, Marc Benioff, Thomas Tull, S32, Paladin Capital Group, and others. For more information, visit http://www.sandboxaq.com. View original content to download multimedia:https://www.prnewswire.com/news-releases/sandboxaq-and-aramco-sign-ai-agreement-302357492.html SOURCE SandboxAQ Market News and Data brought to you by Benzinga APIs
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Saudi Aramco collaborates with Alphabet spinoff SandboxAQ to leverage AI and quantum techniques for optimizing oil and gas processing, aiming to increase product value and reduce carbon emissions.
Saudi Aramco, one of the world's leading integrated energy and chemicals companies, has entered into a strategic partnership with SandboxAQ, an Alphabet spinoff specializing in AI and quantum techniques. The collaboration aims to revolutionize the energy sector by leveraging advanced AI models to optimize oil and gas processing facilities and increase the value of downstream products 12.
The agreement centers around the development of a multi-GPU enabled differentiable computational fluid dynamics solver, utilizing SandboxAQ's Large Quantitative Models (LQMs) platform. This cutting-edge approach combines AI and physics to tackle longstanding challenges in the design, optimization, and manufacturing of new materials and chemicals 2.
SandboxAQ's LQMs platform offers a range of techniques, including:
These advanced methods aim to significantly improve the speed and accuracy of product development, potentially accelerating time-to-market and enhancing overall performance 2.
Jack D. Hidary, CEO of SandboxAQ, highlighted the potential environmental and economic impacts of this collaboration. Speaking from Davos, Switzerland, Hidary stated, "We want to up-value and convert to more marketable products low-value fuels and CO2 emissions. That will help give Aramco more revenue and keep carbon out of the atmosphere" 1.
The partnership is expected to address key challenges in the energy and chemicals industry, with a particular focus on reducing Aramco's carbon footprint. By applying AI and quantum techniques to complex industrial processes, the collaboration aims to create more sustainable and profitable solutions for the energy sector 12.
This agreement follows a meeting during the Future Investment Initiative (FII8) in Riyadh, underscoring the growing importance of AI and quantum technologies in shaping the future of the energy industry. The collaboration between a traditional energy giant like Saudi Aramco and an innovative tech company like SandboxAQ represents a significant step towards digital transformation in the sector 2.
SandboxAQ emerged from Alphabet Inc. as an independent B2B company, backed by prominent investors including T. Rowe Price Associates, Inc., IQT, US Innovative Technology Fund, and notable individuals such as Eric Schmidt and Marc Benioff. The company specializes in delivering solutions at the intersection of AI and quantum techniques, with applications spanning various sectors including life sciences, financial services, and navigation 2.
As the energy sector continues to evolve in response to technological advancements and environmental concerns, partnerships like this between Saudi Aramco and SandboxAQ may set new standards for innovation and sustainability in the industry.
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SandboxAQ, an AI startup specializing in quantum technology applications, has secured over $300 million in funding, reaching a valuation of $5.6 billion. The company aims to accelerate the development of advanced AI systems for various industries.
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SandboxAQ, an AI startup spun off from Alphabet, is reportedly seeking a new round of funding that would value the company at over $5 billion. The company specializes in AI and quantum computing applications across various industries.
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SandboxAQ, a startup specializing in quantum computing and AI, has raised an additional $150 million from investors including Google and Nvidia, bringing its Series E round to $450 million and total funding to $950 million.
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5 Sources
Saudi Aramco and SLB (formerly Schlumberger) have signed a framework agreement to develop digital sustainability technologies. The collaboration aims to address climate change and advance sustainable energy solutions.
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2 Sources
Chip startup Groq collaborates with Saudi Aramco's digital arm to build a large-scale AI inference data center in Saudi Arabia, supporting the kingdom's AI ambitions and potentially revolutionizing the region's tech landscape.
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