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Andrew Ng is launching a $175 million fund for AI startups

Andrew Ng is launching a $175 million fund for AI startups
[Photo: Flickr user TechCrunch]

Andrew Ng is at it again. The former Baidu AI boss, Stanford professor, and all-around smartypants has just launched the AI Fund, a startup incubator that will fund the work of experts using machine learning to solve the world’s problems.

According to VentureBeat, the fund already has $175 million to dole out to the AI startups that are created at the incubator. Ng will serve as the incubator’s general partner and will guide the AI Fund’s direction, while Eva Wang will serve as a partner and COO, with funds like Greylock Partners, New Enterprise Associates, Sequoia Capital, and SoftBank Group providing the dolla dolla bills. The AI Fund’s website says artificial intelligence is the new electricity, so it will be interesting to see how these clever folks reinvent the lightbulb.

Correction: An earlier version of this story misstated Eva Wang’s title.