New Jersey has reached an agreement with Nvidia, the tech innovator that is the world’s most valuable company, to advance generative AI.
“Together we’re going to advance AI education, workforce development, research and innovation at scale so we can prepare New Jersey students, innovators and workers to shape the future of AI and not get run over by it,” Phil Murphy, in his final scheduled press conference as governor, said Friday.
The agreement taps research universities including Rutgers and the New Jersey Institute of Technology to build supercomputers at those schools. Generative AI, or artificial intelligence, is leading breakthroughs in medical, aerospace, environmental and other research.
Santa Clara, California-based Nvidia, founded in 1993, was the first company globally to reach $5 trillion in valuation. It makes specialized computer chips and engineers cloud storage.
Murphy thanked lawmakers, who this week in their last legislative session approved a $25 million budget expenditure for “ statewide supercomputer initiative” for colleges and universities.
Reviving New Jersey as a global home of innovation was a major Murphy priority during his two terms. The Nvidia agreement follows related recent efforts, like establishing a permanent New Jersey Innovation Authority to oversee digital and AI projects.
When asked about his accomplishments in a December interview with NJ Spotlight News, Murphy highlighted the creation of a dozen strategic innovation centers that focus on sectors like artificial intelligence, fintech, life sciences, aerospace and biotech. Those centers have drawn nearly $500 million in private sector investments off $190 million in state investments, according to the governor’s office.
“Those strategic innovation centers will be a huge driver of the startup economy,” said Murphy, a retired Goldman Sachs Group Inc. senior director. “You’re starting to see evidence of it already. We went from kind of middle of the pack to a top-three venture capital destination state in the nation, behind only California and New York.”
We’re in this together.
For a better-informed future.
Support our nonprofit newsroom.
