Stephen Schwarzman, head of Blackstone Group LP, has given a gift of $350 million to help establish a college of computing at the Massachusetts Institute of Technology in his name.
The MIT Stephen A. Schwarzman College of Computing is part of a $1 billion commitment from the university and will address the opportunities and challenges produced by the prevalence of computing and the rise of artificial intelligence, MIT said in a statement Monday.
“The initiative marks the single largest investment in computing and AI by an American academic institution, and will help position the United States to lead the world in preparing for the rapid evolution of computing and AI,” the statement said.
This article was provided by Bloomberg News.