Governor Phil Murphy and Princeton University President Christopher L. Eisgruber have announced a significant partnership involving Microsoft and CoreWeave as founding partners in the New Jersey Artificial Intelligence Hub (NJ AI Hub). The collaboration aims to create a state-of-the-art ecosystem for research, innovation, education, and workforce development in AI.
The NJ AI Hub will be situated along Route 1, New Jersey's innovation corridor, at 619 Alexander Road in Princeton. Microsoft plans to utilize its TechSpark program to provide expertise and resources for AI skill development. This initiative is expected to position New Jersey as a leading center for AI innovation on the East Coast.
"As the AI industry rapidly evolves, it’s imperative that we capitalize on this moment in New Jersey," stated Governor Murphy. He emphasized the partnership's potential to solidify New Jersey's status as a global technology leader while creating high-paying jobs for residents.
President Eisgruber expressed enthusiasm about the partnership, noting that it demonstrates how government, higher education, and the corporate sector can collaborate to advance AI innovation. "I’m eager to see many of the state’s other excellent colleges and universities join this effort as its development continues," he said.
Brad Smith, Vice Chair and President of Microsoft, highlighted New Jersey's role in American innovation. "By leveraging the strengths of the private sector, Princeton, and the state of New Jersey, our goal is to build a thriving regional AI economy," he remarked.
CoreWeave's co-founder Brian Venturo echoed these sentiments. "Together, we’re advancing the future of technology while driving meaningful economic growth," he said.
Tim Sullivan, CEO of the New Jersey Economic Development Authority (NJEDA), emphasized that this opportunity aligns with Governor Murphy’s vision for cultivating high-growth sectors and creating career opportunities.
The founding partners expect to invest over $72 million into the NJ AI Hub. A portion of NJEDA’s funding will support an NJ AI Venture Fund aimed at fostering innovation commercialization through equity investments.
The NJ AI Hub will focus on three key areas: research and development; commercializing and accelerating innovation; and strengthening AI education and workforce development. These efforts include operating an AI accelerator for start-ups and collaborating with educational institutions to develop talent across various levels.
Microsoft's TechSpark program will play a vital role in these initiatives by fostering inclusive economic opportunities nationwide. Since its inception in 2017, TechSpark has contributed significantly to community funding for local innovation and job creation.
Pending approval from the NJEDA Board, plans are underway for supporting the NJ AI Hub through NJEDA’s Strategic Innovation Center initiative with an anticipated investment of up to $25 million over five years.
For more information about ongoing developments related to this project visit njaihub.org.
