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    Friday, June 14, 2024

    Amazon Adds $230 million in Cloud Credits to AI Startups

    Cloud computing giant Amazon Web Services on Thursday announced a $230 million commitment aimed at accelerating the development of generative artificial intelligence applications by startups worldwide.

    The initiative will provide early stage companies with AWS cloud computing credits, mentorship, and education to further their utilization of AI and machine learning technologies, the company said.

    Amazon’s gesture comes as big tech companies are under increased scrutiny from antitrust regulators over whether they are stifling competition in the emerging AI market.

    Participating startups will have access to AWS computing, storage, database, and custom AI chip offerings through the provided credits.

    The training of generative AI models behind apps such as ChatGPT requires an immense amount of computing power that quickly depletes the cash reserves of startups.

    Earlier this year, the Federal Trade Commission opened an inquiry into how major tech firms were investing in AI startups, requesting further information from the companies, including AWS.

    The EU and Britain's competition watchdogs are also examining tie-ups between artificial intelligence firms and their big US tech partners.

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