The National Science Foundation and the Simons Foundation Division of Mathematics and Physical Sciences have partnered to fund research in the mathematical and scientific foundations of deep learning. They announced on August 24, 2020 the award of a $10 million grant to support the 5-year Collaboration on the Theoretical Foundations of Deep Learning, involving 11 PIs across 8 institutions (UC Berkeley, Stanford University, the Massachusetts Institute of Technology, UC Irvine, UC San Diego, Toyota Technological Institute at Chicago, EPFL in Lausanne, and the Hebrew University in Jerusalem).
Read the NSF announcement, Simons Foundation announcement, and UC Berkeley news release.