Micron targets AI with up to $100M for investments

Micron targets AI with up to $100M for investments

Business news |
By Wisse Hettinga

The investments will be made through the company’s strategic investments entity, Micron Ventures. Micron made the announcement at its inaugural Micron Insight 2018 event.

As more complex AI and machine learning systems are developed, and more advanced use cases are being worked on, the hardware used to train and run those models will become increasingly important. As a result, says the company, this requires a detailed look at compute, memory, and storage configurations to avoid performance and throughput bottlenecks and drive faster, better results.

“We are pleased to bring together the industry’s brightest thinkers, researchers, innovators and technologists to discuss AI, machine learning, and deep learning,” said Micron President and CEO Sanjay Mehrotra. “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.”

Micron Ventures, says the company, is dedicated to helping entrepreneurs revolutionize industries with advances in AI for applications such as augmented and virtual reality and autonomous driving, while dramatically advancing foundational capabilities such as deep learning. As part of the $100 million investment, Micron says it will target up to $20 million to fund startups led by women and other underrepresented groups.

“Micron Ventures is focused on accelerating innovation in AI and machine learning in order to unlock the vast potential of these promising technologies to enrich human life,” said Micron Executive Vice President and Chief Business Officer Sumit Sadana. “Our investments, coupled with our industry-leading portfolio of memory and storage products, technologies and capabilities, will enable these startups to realize the full potential of their innovations.”

Micron Technology

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