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June 13, 2024 10:40 pm
Original Link: https://news.slashdot.org/story/24/06/13/2054257/amazon-says-itll-spend-230-million-on-generative-ai-startups?utm_source=rss1.0mainlinkanon&utm_medium
Amazon Says It'll Spend $230 Million On Generative AI Startups
An anonymous reader quotes a report from TechCrunch: Amazon says that it will commit up to $230 million to startups building generative AI-powered applications. The investment, roughly $80 million of which will fund Amazon's second AWS Generative AI Accelerator program, aims to position AWS as an attractive cloud infrastructure choice for startups developing generative AI models to power their products, apps and services. Much of the new tranche -- including the entire portion set aside for the accelerator program -- comes in the form of compute credits for AWS infrastructure, meaning that it can't be transferred to other cloud service providers like Google Cloud and Microsoft Azure. To sweeten the pot, Amazon is pledging that startups in this year's Generative AI Accelerator cohort will gain access to experts and tech from Nvidia, the program's presenting partner. They will also be invited to join the Nvidia Inception program, which provides companies opportunities to connect with potential investors and additional consulting resources. The Generative AI Accelerator program has also grown substantially. Last year's cohort, which had 21 startups, received only up to $300,000 in AWS compute credits, amounting to around a combined $6.3 million investment. "With this new effort, we will help startups launch and scale world-class businesses, providing the building blocks they need to unleash new AI applications that will impact all facets of how the world learns, connects, and does business," Matt Wood, VP of AI products at AWS, said in a statement. Further reading: How Amazon Blew Alexa's Shot To Dominate AIRead more of this story at Slashdot.
Original Link: https://news.slashdot.org/story/24/06/13/2054257/amazon-says-itll-spend-230-million-on-generative-ai-startups?utm_source=rss1.0mainlinkanon&utm_medium
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