mobile-bannertablet-bannerdesktop-banner

Baidu’s Former AI Guru Andrew Ng Wants to Raise $150 Million for New Research

Aug 18, 2017

Renowned artificial intelligence expert Andrew Ng hopes to raise up to $150 million to fund more work in AI, according to documents filed this week with the U.S. Securities & Exchange Commission. The documents were first spotted by online private capital community site PE Hub.

Given his track record, Ng should have no trouble finding funding for this white-hot tech area, which aims to make computers smarter. Ng is the former chief scientist at Chinese tech giant Baidu (bidu) and he helped build the Google Brain project with Jeff Dean. He also co-founded online education firm Coursera and is a professor at Stanford University, as noted by news site TechCrunch.

Get Data Sheet, Fortune’s daily tech newsletter.

Work in AI—and its subsets of machine learning and deep learning—have already helped software "learn" to recognize images, understand the spoken or written word, and empower self-driving cars. The hope is that these technologies will lead to more breakthroughs in medicine, healthcare, manufacturing, and other fields.

Virtually every tech company of any size—including Google (goog), IBM (ibm), Microsoft, Facebook (fb), and Salesforce (crm)—are pouring resources into AI research and hiring experts as fast as they can.

All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website.

Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions