CAMBRIDGE, Mass. (AP) — The Massachusetts Institute of Technology has announced a $1 billion investment to study computing and artificial intelligence in an effort to make the U.S. a world leader in the field.

The university on Monday said the work will take place in the Stephen A. Schwarzman College of Computing, made possible by a $350 million gift from Schwarzman, the chairman, CEO and co-founder of investment firm Blackstone.

mit MIT Commits $1 Billion To Study Computing, AI

(Photo by Joe Raedle/Getty Images)

The center is scheduled to open next September and will move into a new building since 2022, marking what the university is calling the most significant structural change to MIT since the 1950s.

President L. Rafael Reif in a statement said as computing and AI reshape the world the new center at MIT “intends to help make sure it does so for the good of all.”

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