AI hub in New Jersey opens as a state-university-industry partnership

Gov. Phil Murphy and representatives from the founding partners—the New Jersey Economic Development Authority (NJEDA), Princeton University, Microsoft, and CoreWeave—officially opened the New Jersey Artificial Intelligence (NJAI) Hub on March 27, 2023.

Together, the founding partners will invest over $72 million to support the long-term success of the hub. New Jersey’s NJEDA has committed $25 million; the remaining $47 million of donated services and support will come from Princeton and the industry partners. A portion of NJEDA’s and CoreWeave’s committed funding will include a planned NJ AI Venture Fund supporting innovation commercialization through equity investments.

There will be an accelerator as part of the commercialization prong of activity. The other two prongs are to help companies apply AI to advance their R&D and to promote high-quality talent development.

New Jersey’s governor and Princeton University president first announced plans for Princeton and the New Jersey Economic Development Authority to collaboratively establish the AI Hub in December 2023. In the 18 months since the first announcement, NJEDA worked with Princeton University to solidify the scale and shape of the hub. After the initial announcement, the concept began solidifying at the New Jersey AI Summit on April 11, 2024. Attendees were encouraged to “share ideas and insights” during the summit; a request for information issued ahead of the summit also aimed to identify potential partners, specific sites, and financial contributions. In January 2025, Gov. Murphy and Princeton University President Christopher L. Eisgruber announced in that Microsoft and CoreWeave would join the state and Princeton as founding partners in the hub.  

Princeton University is seeking a founding executive director for the hub. 

For further updates, visit the NJ AI Hub website.