SandboxAQ, an AI and quantum computing startup spun off from Alphabet, has raised an additional $150 million in its Series E funding round. Investors in this round include major names like Google and Nvidia, along with others such as Ray Dalio, Horizon Kinetics, and BNP Paribas.

This new investment comes less than four months after SandboxAQ raised $300 million at a $5.6 billion valuation. With this latest boost, the company has now secured over $950 million in total funding.

SandboxAQ focuses on harnessing the combined potential of AI and quantum computing—reflected in its name, “AQ.” The company aims to develop commercial products across various sectors, including telecom, financial services, healthcare, and security. It is already working with several customers on enterprise software and cybersecurity solutions that leverage quantum computing.

The company was officially spun off from Alphabet in March 2022, following a successful $500 million financing round. At that time, former Google CEO Eric Schmidt was named chairman. SandboxAQ continues to attract significant investor interest, with backers including Breyer Capital, Eric Schmidt, Thomas Tull, T. Rowe Price Associates, and several others.

This investment marks the second major funding round for a Google spinoff this week. Earlier, Isomorphic Labs, another Alphabet spinoff, raised $600 million in its first external funding round. Isomorphic, which applies AI to drug development, was spun out of Google’s DeepMind division in 2021.

With these new investments, SandboxAQ is poised to continue advancing its AI and quantum computing solutions, driving innovation in critical industries.