Fernando Dominguez Pinuaga, a vice president at SandboxAQ, at a conference on AI and quantum simulation. Both SandboxAQ and Good Chemistry use algorithms designed to leverage the advanced capabilities of quantum computing to simulate the behavior of materials at molecular level, said Jack Hidary, CEO of SandboxAQ. Photo: SandboxAQArtificial intelligence and quantum company SandboxAQ on Tuesday is expected to announce it acquired Good Chemistry, a deal aimed at addressing demand for technology that speeds up development of new drugs or new materials at lower cost. The deal was worth approximately $75 million in cash and stock, according to sources with knowledge of the acquisition.

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Persons: Fernando Dominguez Pinuaga, Jack Hidary Organizations: SandboxAQ Locations: SandboxAQ