Subj : AWS is investing millions backing generative AI startups
To   : All
From : TechnologyDaily
Date : Fri Jun 14 2024 11:15:05

AWS is investing millions backing generative AI startups

Date:
Fri, 14 Jun 2024 10:09:39 +0000

Description:
Millions in funding being offered to the next cohort in the AWS Generative AI 
Accelerator program.

FULL STORY
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Amazon Web Services (AWS) has announced a $230 million commitment aimed at 
accelerating the development of generative AI applications, earmarking 
millions in funding for AI startups. 

The initiative specifically targets early-stage startups, offering them AWS 
credits that they can use on cloud compute power as well as mentorship and 
educational resources. 

A portion of the funding will also be ploughed into the companys AWS 
Generative AI Accelerator program, which helps AI startups in staged cohorts. 
AWS boosting AI startups 

As part of the announcement, AWS has confirmed that a second cohort of AI 
startups will get to partake in the program, with access for the top 80 
early-stage startups to up to $1 million in credits. 

To be part of the program, AWS states that the budding businesses should use 
or have plans to use generative AI to solve complex challenges, such as 
social and environmental matters. 

With this new effort, we will help startups launch and scale world-class 
businesses, providing the building blocks they need to unleash new AI 
applications that will impact all facets of how the world learns, connects, 
and does business," commented Matt Wood, VP for Artificial Intelligence 
Products at AWS. 

Credits will enable the companies to access compute, storage and database 
technologies, as well as the AWS Trainium and AWS Inferentia2 AI chips. 

Besides AWS credits, participants of the 10-week program will also get to 
access industry experts, technology, and technical sessions from Nvidia. 

Set to be confirmed on September 10, the chosen startups for the second 
cohort will also get valuable time in front of potential investors, customers 
and partners at re:Invent 2024 in December. 

Startups looking to benefit from the Seattle-based cloud giants generous 
funding can visit startups.aws to explore opportunities and begin the 
application process. More from TechRadar Pro These are the best AI tools and 
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Link to news story:
https://www.techradar.com/pro/aws-is-investing-millions-backing-generative-ai-
startups


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