Bill Gates firm puts $80 million behind 'smart city' in Arizona

One of Bill Gates' firms invested $80 million into nearly 25,000 acres of land west of Phoenix, Arizona to build a'smart city' of the future. The proposed community, called Belmont, will have high-speed communications infrastructure, autonomous cars and data centers. In short, a hyper-connected place suitable for new companies to set up shop in. "Belmont will create a forward-thinking community with a communication and infrastructure spine that embraces cutting-edge technology, designed around high-speed digital networks, data centers, new manufacturing technologies and distribution models, autonomous vehicles and autonomous logistics hubs," Belmont Partners said in a news release, according to KPNX. The land itself has been eyed for development since the early 90s, according to AZ Central.