The Massachusetts Institute of Technology (MIT) is planning to build a $1bn college to study artificial intelligence.
The MIT Schwarzman College of Computing will serve as a hub for AI, computer science and data science.
The college is named after Stephen Schwarzman, chairman of the Blackstone Group, who donated $350m to the project.
MIT has raised a further $300m, reaching $650m of the sum needed for the development. It said further fundraising was "being actively pursued by MIT’s senior administration".
Rafael Reif, MIT president, said: "As computing reshapes our world, MIT intends to help make sure it does so for the good of all.
"The college will equip students and researchers in any discipline to use computing and AI to advance their disciplines and vice-versa, as well as to think critically about the human impact of their work."
Construction of the Schwarzman College of Computing is due to be completed by 2022.
Image courtesy of MIT/Christopher Harting