Jack Hidary, CEO of Sandbox AQ, recently discussed the company’s focus on advancing quantum technology during an interview on CNBC’s ‘Money Movers’. He highlighted how Sandbox AQ, valued at $5.6 billion after a recent $300 million fundraise, is at the forefront of commercializing quantum technology by developing algorithms and software that can operate on both NVIDIA GPUs and quantum processing units (QPUs).
Hidary pointed out the burgeoning quantum hardware sector, noting that around two dozen companies are actively working on quantum computers, including tech giants like Alphabet (GOOGL, GOOG), Amazon (AMZN), IBM (IBM), and Microsoft (MSFT), alongside startups like PsiQuantum. He specifically mentioned IonQ (IONQ) as a public company in the space, and anticipated that Quantinuum, resulting from a merger between Honeywell’s Quantum Computer and Cambridge Quantum, would go public within the next 6 to 12 months. He clarified, however, that Sandbox AQ itself would remain private, supported by investors like T. Rowe Price and Alger Asset Management, enjoying the freedom to innovate without the pressures of public markets.
The core of Hidary’s discussion revolved around the urgent need for companies and governments to update their encryption protocols due to the threat posed by quantum computing. He warned that quantum computers could potentially decrypt current encryption standards used in commerce, banking, telecommunications, and government, thus risking critical infrastructures. He urged that the transition to quantum-safe protocols, as recommended by NIST (National Institute of Standards and Technology), should begin immediately, noting that this process could take 5 to 10 years.
In terms of broader implications, Hidary described the evolving landscape where AI and quantum computing would serve as dual engines of technological transformation. While the past few years have seen a focus on language AI and large language models (LLMs) like ChatGPT for reducing costs in customer service and marketing, he predicts a shift towards quantitative AI and large quantitative models (LQMs) in the coming years. This shift will see an integration of GPU and QPU technologies in hybrid cloud environments from providers like AWS, Azure, and Google Cloud Platform, focusing on solving complex problems in drug discovery, energy, and battery technology.
Hidary’s call to action for bolstering encryption underscores the dual nature of quantum technology as both an opportunity for innovation and a security challenge. He emphasized the need for immediate action, particularly with the upcoming changes in administration, to safeguard national and commercial interests in both the US and Europe. His remarks at the interview reflect a deep understanding of the quantum computing landscape and its implications for future technology development and security.
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