WORLD-CLASS NJ AI HUB: Gov. Phil Murphy and Princeton University President Christopher L. Eisgruber have announced that Microsoft and CoreWeave will join the state of New Jersey and Princeton University as founding partners in the NJ AI Hub to be located on Alexander Road in West Windsor. (Rendering courtesy of Janisak Biddle Architects)

By Donald Gilpin

Princeton University and the state of New Jersey will be joined by two corporate tech giants, Microsoft and CoreWeave, in the creation of a “state-of-the-art” NJ AI Hub, “a collaborative ecosystem that integrates world-class research, innovation, education, and workforce development,” according to an announcement last Friday by Gov. Phil Murphy.

The Hub will be located in space provided by Princeton University at 619 Alexander Road in West Windsor and, the governor’s press release stated, “will help position New Jersey as a leading East Coast center for AI innovation.”

“The addition of Microsoft and CoreWeave as founding partners of the NJ AI Hub demonstrates how government, higher education, and the corporate sector are coming together to advance AI innovation and the regional innovation ecosystem — two of Princeton’s highest priorities,” said Princeton University President Christopher L. Eisgruber. “I’m eager to see many of the state’s other excellent colleges and universities join this effort as its development continues.”

Murphy emphasized, “As the AI industry rapidly evolves, it’s imperative that we capitalize on this moment in New Jersey. I’m incredibly proud of this partnership with the top leaders in the industry and higher education, which further establishes our state as a hub for cutting edge AI innovation and talent. AI’s economic and innovation potential is vast, giving us the chance to take our state to new heights. This partnership will not only solidify New Jersey’s position as a global technology leader, it will also attract high-paying, sustainable jobs for our residents, allowing for a stronger and more prosperous future for our state.”

Last Friday’s announcement follows Murphy’s proclamation 13 months ago in his State-of-the-State address of an “AI Moonshot,” with New Jersey becoming a base for AI-powered discoveries creating new jobs and economic opportunities.

Murphy and Eisgruber announced plans for an AI Hub in 2023, and last April the University and the state held a NJ AI Summit, gathering more than 600 academic, business, and government leaders at Princeton University to start the planning for the future of AI in New Jersey. Microsoft Vice Chair and President Brad Smith gave the keynote address, and CoreWeave Co-Founder and Chief Strategy Officer Brian Venturo was a featured speaker.

Microsoft, CoreWeave, and the New Jersey Economic Development Authority (NJEDA) are partners with Princeton University in the newly created NJ AI Hub, and together they expect to invest more than $72 million to support the long-term success of the Hub, including up to $25 million of non-binding commitment from the NJEDA.

The four partners have designated research and development, commercializing and accelerating innovation, and strengthening AI education and workforce development as three priorities, “pillars of programming,” at the NJ AI Hub.

In research and development the Hub will be helping companies to apply AI in their businesses and engage New Jersey’s research universities on AI research and to host events to connect companies with AI research and potential collaborators.

In commercializing and accelerating innovation, the Hub will operate an AI accelerator to “help facilitate the growth of the early stage AI ecosystem in New Jersey,” according to the press release. The accelerator will host and support startup ventures, and those startups will have access to the Hub’s corporate partners for mentoring and networking.

To strengthen AI education and workforce development, the Hub will work closely with the state’s higher education community. “The Hub will coordinate efforts to build the state’s pool of AI talent,” the press release states. “Ongoing collaboration with employers will ensure that education and training programs are providing trainees with industry-recognized credentials and in-demand skills for the workforce.”

“New Jersey has long been at the forefront of American innovation and AI is the next chapter of this journey,” said Smith, as quoted in the governor’s press release. “By leveraging the strengths of the private sector, Princeton, and the state of New Jersey, our goal is to build a thriving regional AI economy that not only drives economic growth, but sets a new standard for research, development, and workforce development.”

“This collaboration represents the best of what private-public partnerships can achieve, bringing together the brightest minds from government, academia, the business community, and our team of experts to foster groundbreaking AI innovation in New Jersey,” said Venturo. “Together we’re advancing the future of technology while driving meaningful economic growth and strengthening New Jersey’s role as a leader in the global AI landscape. New Jersey is our home, and we’re excited to continue our partnership with the state by making it a leader in AI advancement.”

“AI is rapidly evolving and New Jersey is capitalizing on this moment to cement our place as a national leader in the industry,” said NJEDA CEO Tim Sullivan. “By bringing together world-class leaders like Princeton, Microsoft, and CoreWeave, Governor Murphy is building upon the Garden State’s longstanding legacy in innovation and helping advance cutting edge AI technologies. The opportunity presented by AI aligns with Governor Murphy’s vision for cultivating high-growth sectors with the goal of creating family-sustaining career opportunities. Showcasing New Jersey’s bustling innovation community, talent pool, and robust resources will help AI companies recognize the state’s value proposition for growing innovative companies of the future.”

Sullivan, as quoted by the ROI-NJ business media company, went on to highlight the importance of bringing high-level corporate partners and Princeton University on board with the state in this venture.

“If you’re judged by the company you keep, Princeton, Microsoft, and CoreWeave would be about as good a trio as you can imagine,” said Sullivan. “This is a big deal for Jersey and a bigger opportunity for Jersey. These aren’t folks who are in the charity business. These are corporate giants. And to have their validation of the governor’s strategy speaks volumes to the governor’s strategy.”

Sullivan went on, “To have Princeton engage at this level is extraordinary. I think if you look at the sweep of history, getting an institution of the caliber and the resources of Princeton to engage more deeply in the real economy is a game-changer. It sends an incredibly important signal of where the Jersey economy is going with their deeper engagement.”