AWS invests $230 million in generative AI startups

Amazon Web Services (AWS), the world’s largest cloud provider, is investing $230 million to boost generative AI startups. The Seattle-based giant offers AWS credits and access to its infrastructure and AI chips, targeting early-stage companies aiming to advance generative AI applications. Startups will benefit from AWS compute, storage, and database technologies, as well as AI-focused resources like Trainium, Inferentia2 chips, Amazon SageMaker, and Amazon Bedrock.

AWS Vice President Matt Wood highlighted that this initiative will help startups scale their AI solutions, impacting various industries. AWS’ new funding commitment includes the Generative AI Accelerator program, providing up to $1 million in credits to each of the top 80 early-stage startups. These companies will also gain access to mentorship and AWS certifications.

AWS holds a 31% share of the global cloud services market and reported a record $25 billion in revenue in Q1 2024, a 17% year-over-year increase. The company continues to expand its global footprint with more Availability Zones and Regions worldwide.

Source: CRN