The White House on Wednesday announced $1 billion funding for a new initiative to advance U.S. artificial intelligence and quantum mechanics research. The initiative will fund 12 new, multi-disciplinary research institutes focused on AI and quantum information science (QIS) over five years in collaboration with the National Science Foundation, Department of Agriculture and Department of Energy, as well as the private sector and academia. "We are proud to announce that over $1 billion in funding will be geared towards that research, a defining achievement as we continue to shape and prepare this great [n]ation for excellence in the industries of the future," advisor to the president Ivanka Trump said in a statement. Ivanka Trump listens as President Donald Trump speaks during a conference call with banks on efforts to help small businesses during the coronavirus pandemic. The Trump administration in February committed to doubling funding to a total of $2.2 billion for non-defense AI and quantum research by fiscal year 2022.