Published on June 14, 2024, 7:15 am

Aws Commits $230 Million To Boost Generative Ai Startups

Amazon Web Services (AWS) recently made a significant commitment of $230 million to boost the development of generative AI applications, with a focus on supporting AI startups. This initiative is designed to assist early-stage startups by providing them with AWS credits for cloud compute power, alongside mentorship and educational resources. Part of the funding will also be allocated to the AWS Generative AI Accelerator program which aids AI startups in various stages.

Under this program, AWS has announced that a new cohort of AI startups will have access to up to $1 million in credits, benefiting the top 80 early-stage startups. To qualify for participation, these startups are expected to utilize or have plans to leverage generative AI to address intricate challenges, including social and environmental issues. Matt Wood, VP for Artificial Intelligence Products at AWS, expressed that through this initiative, they aim to support startups in launching and expanding innovative businesses that can revolutionize how the world learns, connects, and conducts business.

The AWS credits provided will enable companies to access essential technologies like compute power, storage solutions, databases, as well as cutting-edge AI chips such as AWS Trainium and AWS Inferentia2. Additionally, participants in the 10-week program will benefit from interactions with industry experts, specialized technology sessions offered by Nvidia, and exposure to potential investors, customers, and partners at re:Invent 2024 in December.

For those interested in seizing this opportunity offered by Amazon Web Services’ funding initiative for startups utilizing generative AI applications can explore more details and commence the application process on their website.

In addition to this exciting news from AWS, TechRadar Pro offers further insights into other related topics such as the best AI tools available today and highlights on industry-leading cloud hosting providers. Stay tuned for more updates!

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