Science & Technology

Amazon to Invest $230 Million in AI Startups

Amazon has announced its intention to invest $230 million in the form of Amazon Web Service (AWS) credits in startups operating in the artificial intelligence industry.

Amazon to Invest $230 Million in AI Startups

The mentioned intention is an example of the practice of cloud providers aimed at gaining artificial intelligence clients from nascent stages.

Announced by the e-commerce giant, which is also gradually becoming a major player in the technology sector, the credits will provide startups in the machine intelligence industry with free access to computing power, a variety of artificial intelligence models, and infrastructure. In this case, for firms that are at an early stage of existence, there is a kind of condition in the form of interaction with AWS. At the same time, the appropriate approach is absolutely fair, because investors are interested in getting what can be called a reverse effect.

Amazon, which ownership structure also includes the best American delivery service, also offers cloud credits worth $1 billion per year to startups. The business giant’s new commitment is aimed at supporting firms developing generative AI.

Matt Wood, vice president of AI Products at AWS, says that startups will be able to iterate very quickly and pivot very quickly as necessary. Also in this context, it was noted that after achieving the result, these companies will be able to double down and get to the scale with security, responsibility, and consistency.

Part of the credits will be used to support 80 startups around the world under the AWS Generative AI Accelerator program. In this case, each company at the initial stage of existence can receive up to $1 million in the specified credits.

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.