Silicon Valley Leaders Including Elon Musk, Peter Thiel and Reid Hoffman Commit $1 Billion to Create Artificial Intelligence Without Profit Motive

A group of prominent Silicon Valley investors and technology companies said on Friday that they would establish an artificial-intelligence research center to develop "digital intelligence" that will benefit humanity.
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The investors — including Elon Musk, Peter Thiel and Reid Hoffman — said they planned to commit $1 billion to the project long term, but would initially spend only a small fraction of that amount in the first few years of the project. But, Mr. Musk said, "Everyone who is listed as a contributor has made a substantial commitment and this should be viewed as at least a billion-dollar project."

The organization, to be named OpenAI https://openai.com/blog/introducing-openai/ , will be established as a nonprofit, and will be based in San Francisco.

By JOHN MARKOFF

Full Story: http://www.nytimes.com/2015/12/12/science/artificial-intelligence-research-center-is-founded-by-silicon-valley-investors.html?hpw&rref=technology&action=click&pgtype=Homepage&module=well-region&region=bottom-well&WT.nav=bottom-well&_r=0