Billionaire NVIDIA director Mark Stevens donates $200M to alma-mater USC
What's the story
Mark Stevens, a billionaire and director at NVIDIA, and his wife Mary, has donated $200 million to the University of Southern California (USC). The donation aims to boost artificial intelligence (AI) research and education at the university. In recognition of their contribution, USC's School of Advanced Computing will be renamed after the couple.
Educational expansion
USC to launch new AI for business degree
USC also plans to launch a new degree in Artificial Intelligence for Business later this year. Speaking to Bloomberg News, Stevens emphasized the urgency of AI research in today's tech era. He said, "It became clear that USC didn't have the compute capacity that other schools or companies had, and I just felt like we've got to get back in the game," adding that they need to be aggressive about this area of study.
Faculty recruitment
Donation not for buildings, but for attracting top faculty members
Stevens clarified that his donation isn't meant for building infrastructure but rather for attracting top-tier faculty members. He said, "The gift is not for brick-and-mortar buildings. It is aimed at recruiting top-flight faculty — not just senior faculty, young up-and-comers from all over the world — who will do core AI research and research that is at the nexus of other disciplines, citing examples like applying AI to the film, business or medical fields."
Donation impact
USC president calls donation a validation of USC
USC President Beong-Soo Kim hailed Stevens's donation as a validation of USC and higher education. He said the gift isn't for a new initiative but "a deepening of a commitment to using AI to advance societal good." Kim praised Stevens for his ability to recognize potential in companies and organizations before others, calling the investment an important sign of confidence in their future.
Philanthropy
Stevens has donated over $290M to USC since 2004
Since 2004, Stevens has donated over $290 million to USC for various causes, including athletics and brain science. A Culver City native, he graduated from USC in 1981. With a net worth of $12.5 billion according to the Bloomberg Billionaires Index, Stevens was an early investor in NVIDIA and made his fortune primarily through a stake in the chipmaker.