Amazon has announced that it will dedicate up to 230 million dollars to support emerging companies working on developing applications powered by generative artificial intelligence through AWS.
This investment aims to make AWS a compelling option for emerging companies that are creating generative AI models to power their products, applications, and services.
A significant part of this new commitment is allocated towards AWS infrastructure credits, meaning they cannot be transferred to other cloud service providers like Google and Microsoft.
Amazon has committed that the emerging companies participating in this year’s Geneative AI Accelerator program will have access to experts and technology from Nvidia.
Amazon also extends an invitation to emerging companies to join Nvidia Inception, a program that offers them an opportunity to connect with investors and access additional advisory resources.
The Geneative AI Accelerator program has been gaining popularity, with the group of 21 emerging companies receiving funding up to $300,000 through AWS last year, totaling approximately $6.3 million in investment.
The company stated: “We provide support to emerging companies in developing global businesses, expanding their reach, and providing the necessary elements to create new artificial intelligence applications that impact all aspects of global learning, communication, and business practices.”
Amazon’s investments include efforts such as establishing a $100 million AWS Center for AI Innovation, in addition to providing free credits to emerging companies leveraging core artificial intelligence models and the Project Olympus initiative.
Amazon’s investments in generative artificial intelligence technology come at a time when the company is seeking to compete with technology giants in the emerging field of generative artificial intelligence.
Amazon claims that the total generative AI operations it has conducted have reached several billions in the processing rate, although the company is considered late in this field according to widespread opinions.
