Cadence Announces $5M Endowment at Massachusetts Institute of Technology

Gift to advance research and teaching in the fields of AI, ML or data analytics.

Cadence Design Systems, Inc. (Nasdaq: CDNS) today announced the establishment of the Cadence Design Systems Professorship Fund for the Massachusetts Institute of Technology (MIT) Stephen A. Schwarzman College of Computing.

The $5M fund will enable the college to establish a full professorship for outstanding faculty with research and teaching interests in the fields of artificial intelligence (AI), machine learning (ML) or data analytics and can also provide career development opportunities for rising stars doing cutting-edge research in these areas.

“We’re delighted to support MIT’s efforts to advance innovation in the exciting fields of AI, ML and data analytics,” said Lip-Bu Tan, chief executive officer of Cadence. “These transformative technologies are key to the computational software industry and Cadence, and we look forward to enabling the acceleration of MIT’s groundbreaking research in these areas. I was very fortunate to have obtained my master of science degree in nuclear engineering from MIT where I focused my studies on system simulation analysis, so this endowment is very personal to me.”

“Scholars within the MIT Schwarzman College of Computing are at the forefront of computing research and education. Cadence’s generous gift is providing vital new resources for the college in supporting these faculty as they deliver the latest advances in computing and AI,” says Daniel Huttenlocher, dean of the MIT Schwarzman College of Computing. “I’m extremely grateful to Cadence for their contribution and commitment to MIT and the college.”

Establishing the new fund at MIT is part of Cadence’s overall commitment to advancing education and fostering innovation in the burgeoning fields of AI, ML and data analytics.

www.cadence.com

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