Cadence Launches Fem.AI Alliance with $20M Investment

Cadence Design Systems, Inc. (Nasdaq: CDNS) has launched the Fem.AI Alliance, a groundbreaking initiative aimed at fostering gender equity within the AI and tech sectors. Equinix Foundation, NetApp, NVIDIA, and Workday are the founding members of this coalition, committed to increasing women’s participation and leadership in AI. The alliance is spearheaded by the Cadence Giving Foundation, which has allocated an initial $20 million to address key barriers that deter women from pursuing STEM careers.

"Women’s contributions are vital to the evolution of AI, and their inclusion is not just beneficial but necessary for innovation," said Anirudh Devgan, President and CEO of Cadence. "Through the Fem.AI Alliance, we are collaborating with industry leaders to expand opportunities for women in STEM and foster the creation of inclusive, responsible AI solutions."

The Cadence Giving Foundation hosted the inaugural Fem.AI Summit on October 1, coinciding with the first-ever International Women in AI Day. The event convened experts from tech, academia, venture capital, and social impact sectors to address the challenges faced by women in AI and brainstorm ways to expand the talent pipeline. Discussions highlighted the importance of diversity in shaping AI that serves all of society.

Tina Jones, Senior Vice President of Global Human Resources at Cadence, emphasized, "Women’s involvement in AI is essential to harness its full potential. We need a diverse talent pool to develop AI solutions that benefit everyone."

NVIDIA’s Vice President of DGX Cloud, Alexis Bjorlin, added, "The Fem.AI Alliance is a crucial step toward ensuring women lead in AI’s transformative future."

The $20 million investment will support nonprofit partnerships, including Break Through Tech, Fast Forward, and Generation, as well as university collaborations to overcome the three key “leakage points” where women often exit STEM paths. These efforts have already made a significant impact, helping thousands of women stay engaged in tech careers.

Organizations interested in joining the Fem.AI Alliance can learn more and get involved today.