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Akio Toyoda

Toyota invests $1 billion in artificial intelligence in U.S.

Toyota invests $1 billion in artificial intelligence in U.S.

Toyota is investing $1 billion in a research company it's setting up in Silicon Valley to develop artificial intelligence and robotics, underlining the Japanese automaker's determination to lead in futuristic cars that drive themselves and to apply the technology to other areas of daily life.

Toyota Motor Corp. President Akio Toyoda said Friday that the company will start operating in January with 200 employees at a facility near Stanford University. A second facility will be established near Massachusetts Institute of Technology in Cambridge.

The investment, which will be spread over five years, comes on top of $50 million Toyota announced...

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