ALBAWABA - Amazon Web Services, the cloud computing industry behemoth, made an announcement on Thursday unveiling plans to commit $230 million with the intention of expediting the development of generative AI applications by entrepreneurs all over the globe.
As part of the initiative, early-stage startups will get cloud computing credits from Amazon Web Services (AWS), as well as mentoring and instruction, in order to enhance their use of artificial intelligence and machine learning technologies, according to the statement.
As a cherry on top, Nvidia, the program's presenting partner, is providing entrepreneurs in this year's Generative AI Accelerator cohort with access to professionals and technology. They will also get an invitation to become a part of the Nvidia Inception program, which gives businesses access to more consulting services and a network of possible investors.
“For more than 18 years, AWS has helped more startups to build, launch, and scale their business than any other cloud provider—it’s no coincidence that 96% of all AI/ML unicorns run on AWS” Matt Wood, vice president, Artificial Intelligence Products at AWS, said in the statement.
Wood added that “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.”
In an effort to increase the market share of its AI platform, which according to Reuters has boosted AWS’ revenue by 17 percent towards $9.42 billion in the first quarter, Amazon extended the scope of its cloud credits earlier this year to include the implementation of models from companies including Anthropic, Meta, Mistral AI, and Cohere.
