Blackstone CEO Grants $350 Million To Study Artificial Intelligence

Stephen A. Schwarzman gave a grant to MIT.

Chairman and CEO and Founder of Blackstone Stephen A. Schwarzman speaks during 'Heavenly Bodies: Fashion & The Catholic Imagination' Costume Institute Gala Press Preview at The Metropolitan Museum of Art on May 7, 2018 in New York City. (Gary Gershoff/WireImage)

Chairman, CEO and co-founder of Blackstone Group LP, Stephen A. Schwarzman, is looking to the future with a $350 million grant to MIT to study artificial intelligence. This gift is providing the seed funding for a $1 billion commitment by the Massachusetts Institute of Technology “to address the global opportunities and challenges presented by the prevalence of computing and the rise of artificial intelligence,” according to an MIT news release and Pensions & Investments. 

According to Pensions & Investments, the gift will help establish the MIT Stephen A. Schwarzman College of Computing, which will be located in a new building on the college campus.

Earlier this year, Schwarzman donated $5 million to the Harvard Business School for case studies and other programs exploring what implications artificial intelligence will have on industries and business.

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