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Amazon Offers Free Credits for Startups

Amazon Web Service has announced the expansion of its free credits program.

Amazon Offers Free Credits for Startups

The mentioned solution by the technology unit, one of the largest players in the global e-commerce industry, which also owns the best American delivery service, is designed to cover the costs of using major artificial intelligence models. AWS is currently striving to increase the market share of its Bedrock AI platform.

Amazon is interested in expanding its customer base by gaining startups. The company allows its cloud credits to be used by other suppliers of artificial intelligence-based products, including Anthropic, Meta, Mistral AI, and Cohere.

Howard Wright, vice president and global head of the AWS startup department, stated that the firm is making a gift to the ecosystem of brands in the initial stage of existence, in exchange for choosing AWS as their first stop.

It is worth noting that Amazon actively cooperates with companies operating in the artificial intelligence industry. The firm has invested in $4 billion worth of Anthropic convertible notes. As part of this deal, Anthropic will use AWS as the primary cloud service provider and Trainium and Inferential chips to develop and train its artificial intelligence models.

Howard Wright says that free credit will increase the revenue of the mentioned company. According to him, active interaction with startups is part of the building ecosystem process. Howard Wright also noted that AWS offers early-stage firms a wide range of choices and security.

Over the past decade, Amazon has provided more than $6 billion in credits to startups. As part of the partnership with Y Combinator, the company is offering $500,000 in credits for the latest cohort launched in January. These credits can be used on artificial intelligence models and Amazon chips. In the foreseeable future, the cost of applying AI may rise for startups.

Amazon is not the only major cloud provider providing free credits for gaining startups using artificial intelligence. Microsoft Azure gives out credits that can be used for OpenAI’s models. Google’s cloud credit is designed for more than 130 models on the Vertex AI platform.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.