PYMNTS.com June 13, 2024
Amazon is reportedly investing $230 million in Amazon Web Services (AWS) credits in AI startups.
As Reuters reported Wednesday (June 13), these credits will give early-stage generative artificial intelligence (AI) firms free access to computing power, a variety of AI models, and infrastructure, provided they build their companies using AWS.
According to the report, Amazon says it already offers $1 billion in cloud credits every year to startups, with this new commitment focusing on supporting generative AI startups.
“They’ll be able to iterate very quickly and pivot very quickly as necessary,” Matt Wood, vice president of AI Products at AWS, told Reuters. “Then ultimately, when they hit on that home run, they’ll be able to double down and get to...
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