Intel Pledging $300M to Increase Diversity of the Tech Industry

The world's largest computer chip company is putting even more chips in to help bridge the gaps of the industry.

During Brian Krzanich's keynote address at the 2015 Consumer Electronics Show last night, the Intel CEO announced that his company is pledging $300 million to fund the hiring of underrepresented minorities and women in the industry, USA Today reports. This marks the biggest investment ever made by a technology company towards becoming more diverse. Over the next 5 years, Intel will be using this money to close the racial gap throughout its part of the tech market.

"It's time to step up and do more. It's not good enough to say we value diversity," Krzanich said.

Krzanich called on other tech companies to take the same pledge and make investments in trying to help Silicon Valley grow beyond its predominant populations consisting of White and Asian males. Studies revealed that tech companies underemploy those of Hispanic and African American descent, making up only 5 percent of the tech industry. Intel also wants senior leadership positions to be more diverse as well, and implore its future new employees who will be hired with this pledged money to aim high.