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© micron Business | October 11, 2018

Micron to invest $100 million in artificial intelligence startups

Micron Ventures says it will invest up to USD 100 million in venture funding targeted at technology startups focused on artificial intelligence (AI), with twenty percent aimed at startups led by women and other underrepresented groups.
The US chipmaker says that it will invest up to USD 100 million in startups with a strong focus on AI and machine learning through its strategic investments entity, Micron Ventures.

As companies develop more complex AI and machine learning systems and work on more advanced use cases, the hardware used to train and run those models will become increasingly important. This requires a detailed look at compute, memory and storage configurations to avoid performance and throughput bottlenecks and drive faster, better results, the company writes in a press release.

“We are pleased to bring together the industry's brightest thinkers, researchers, innovators and technologists to discuss AI, machine learning and deep learning,” says Micron President and CEO Sanjay Mehrotra, in the release. “These trends are at the heart of the biggest opportunities in front of us, and increasingly require memory and storage technologies to turn vast amounts of data into insights that accelerate intelligence.”

As part of the USD 100 million investment, Micron will target up to $20 million to fund startups led by women and other underrepresented groups.

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October 15 2018 11:56 pm V11.6.0-1