The prize was founded in 1966 and is awarded every year by the Association for Computing Machinery (ACM) to honour computer scientists and engineers who create the systems and underlying theoretical foundations that support development in the world of IT. It is named after British mathematician Alan Turing and is informally known as the Nobel Prize of computer science.
According to a press release issued by the ACM, the extra prize money “reflects the escalating impact of computing on daily life” and is also “intended to raise the Turing Award’s visibility”.
“The Turing Award is now funded at the monetary level of the world’s most prestigious cultural and scientific awards and prizes,” said ACM president Alexander Wolf in a statement. “With the generous support of Google, we can celebrate the mainstream role of computing in transforming the world and the way we communicate, conduct business, and access entertainment.”