[1] The college's funding sources were met with criticism, with students and staff contrasting MIT's stated emphasis on ethics against Schwarzman's controversial business practices[4][5] and support for Donald Trump.

[2][16] The main part of the college's funding consisted of a $350 million gift from businessman Stephen A. Schwarzman, characterized by Forbes as one of the largest donations made to a single academic institution.

[17] The college was shaped by a several-year-long conversation between Reif and Schwarzman prior to the donation, where the two raised questions on the potential of AI and its future impacts on society.

Schwarzman emphasized the global effects of AI and believed that America needed to invest further into developing the technology, and Reif desired a university-wide initiative that funds and promotes collaboration between departments.

The speakers included Reif, Schwarzman, Massachusetts governor Charlie Baker, former Google CEO Eric Schmidt, author Thomas Friedman, and former US Secretary of State Henry Kissinger.

[20] The celebration received heavy criticism from several MIT students, faculty, and alumni, who protested the event and questioned the ethics of past actions by Schwarzman and Kissinger.

[2][18] The New York Times described the college's structure as an effort to "alter traditional academic thinking and practice" and allow the university to more effectively bring computing to other fields.

A group of MIT students, faculty, and alumni issued a strong criticism against the university's decision to accept money from Schwarzman, deeming it to be unethical.

In an opinion piece in The Tech, they condemned Schwarzman's relationship as an advisor to US President Donald Trump, his ties to Saudi Arabian Crown Prince Mohammed bin Salman, and his firm's opposition to an affordable housing bill in California.