How this investment will help AI startups
According to a report from the Reuters news agency, these credits will make it possible to offer start-up services Generative AI startups gain free access to computing power, a variety of AI models, and infrastructure. However, to access Amazon’s services, startups must build their business on AWS.
Additionally, these credits will also support 80 startups worldwide through the AWS Generative AI Accelerator program. Each startup admitted to the accelerator can receive up to $1 million in AWS Credits.
Besides AWS, offering credits to startups is a common practice among cloud providers, including Microsoft Azure and Google Cloud. These companies offer credits to attract businesses to their services, as cloud costs can increase significantly with increased usage.
What Amazon Said About AWS Credits
Amazon said it was already offering $1 billion in cloud credits every year to startups. With this new commitment, the company focuses on supporting generative AI startups Also
In a statement to Reuters, Matt Wood, vice president of AI products at AWS, said: “They will be able to iterate very quickly and pivot very quickly if necessary. Then, ultimately, when they hit that home run, they will be able to double down and reach the ladder with security, accountability and consistency.
Earlier this year, Amazon expanded its cloud credits to cover the use of models from vendors such as Anthropic, Meta, Mistral AI and Cohere. With these investments, the company aims to increase the market share of its AI Platform.
