Zapata AI, a leading startup in quantum software, has ceased operations due to an accelerated payment demand of $2.5 million by Sandia Investment Management LP. The unforeseen shutdown occurred after a partnership announcement with MAG Aerospace.
Zapata AI ceased operations on October 9, 2024.
Zapata owed $2.5 million to Sandia Investment.
Payment was accelerated to October 8, 2024.
Few employees remain for termination activities.
Filed a notice with the U.S. Securities and Exchange Commission.