Capital One makes $2 million gift to UVA Engineering for AI center at new building

Major corporations are interested in technologies that turn over more decision-making to algorithms using advanced computing.

To that end, Capital One and the University of Virginia School of Engineering have entered into a $4.5 million partnership for a new research center to be located in a future building. The partnership will also see a new fellowship program for Ph.D. candidates.

“This collaboration will accelerate artificial intelligence research and education while helping to create the next generation of AI leaders in financial technology,” reads an information release sent out on October 27

Two million will go to create something called the Capital One AI Research Neighborhood in a future engineering building to be built on Whitehead Road. UVA will contribute a $2 million match. Half a million will go to launch the Capital One Ph.D. Fellowship Awards.
According to the release, the Capital One AI Research Neighborhood will be 31,000 square feet and will be the “epicenter of AI research” with over 50 researchers from UVA Engineering and other departments. That will likely include the School of Data Science, a separate part of UVA.

“This partnership underscores our shared commitment to drive innovations in data and AI technologies to deliver value to people in all spheres of their lives,” the release quotes Dr. Prem Natarajan, Executive Vice President, Chief Scientist and Head of Enterprise AI at Capital One, and Board Member, University of Virginia School of Data Science. “Together, we will enable the next generation of AI leaders to gain exposure to real-world business problems and help create a nationally important talent pipeline for the AI-ready workforce of the future.”

Planning continues for the new engineering academic building on Whitehead Road. The AI Neighborhood will be one of four such academic nodes in the building, with the others being dedicated to energy; biomaterials and health, and environment and sustainability.

According to the 2025 Major Capital Plan adopted by the Board of Visitors in June, there’s already been a $5 million gift toward the project. However several projects in the design phase have been deferred due to financial uncertainty, including the engineering building. Others include the Darden Global Innovation Nexus, the School of Architecture Center for Design, and the expansion of the UVA Copeley Childcare Center.

Learn more about the future building here.

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