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Amazon Says It'll Spend $230 Million On Generative AI Startups - Slashdot

Jun 13, 2024 - news.slashdot.org
Amazon has announced it will invest up to $230 million in startups developing generative AI-powered applications, with $80 million funding its second AWS Generative AI Accelerator program. The investment, largely in the form of compute credits for AWS infrastructure, is designed to make AWS a more appealing choice for startups over other cloud service providers. Startups in this year's Generative AI Accelerator will also have access to Nvidia experts and technology, and will be invited to join the Nvidia Inception program for potential investor connections and additional resources.

The Generative AI Accelerator program has seen significant growth, with last year's 21 startups receiving only up to $300,000 in AWS compute credits, a total investment of around $6.3 million. Matt Wood, VP of AI products at AWS, stated that the new initiative aims to help startups launch and scale businesses, and to facilitate the development of new AI applications impacting various aspects of learning, connecting, and doing business.

Key takeaways:

  • Amazon is committing up to $230 million to startups building generative AI-powered applications, with $80 million funding Amazon's second AWS Generative AI Accelerator program.
  • The investment is primarily in the form of compute credits for AWS infrastructure, which cannot be transferred to other cloud service providers.
  • Startups in this year's Generative AI Accelerator cohort will gain access to experts and tech from Nvidia, and will be invited to join the Nvidia Inception program.
  • 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.
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