Amazon offers $230 million in AWS credits to AI startups

Amazon said it will be offering $230 million in the form of Amazon Web Service (AWS) credits to artificial intelligence (AI) startups, Reuters news report said.
credit to AI startups from AWSEarly-stage generative AI startups can use the credits from AWS to ensure free access to Cloud, a variety of AI models, and infrastructure, if they build their infrastructure on AWS. Amazon Web Service says it powers 280,000 startups globally. Amazon Web Service says 96 percent of AI/ML unicorns run on AWS.

Customers such as Stability AI, Wiz, and Airbnb use AWS to power their startup. AWS is an attractive platform for AI start-ups as the AWS Partner Network has more than 130,000 partners from over 200 countries, with 70 percent headquartered outside of the United States.

AI start-ups can access up to $100,000 in AWS credits through AWS Activate. Generative AI startups building foundation models may be eligible for up to $300k in credits to test AWS Trainium and AWS Inferentia.

AWS Activate credits are redeemable on third-party models on Amazon Bedrock, our fully-managed service that offers a choice of high-performing foundation models (FMs) from leading AI companies, like AI21 Labs, Anthropic, Cohere, Meta, Mistral AI, Stability AI, and Amazon via a single API.

The AI market is expected to reach $184 billion by the end of 2024. Analysts forecast say that AI market will reach $826.70 billion by 2030, growing 28.46 percent annually. This rapid development creates rich ground for the 70,717 AI startups worldwide.

Amazon says it 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. Then ultimately, when they hit on that home run, they’ll be able to double down and get to the scale with security, responsibility and consistency,” said Matt Wood, vice president of AI Products at AWS.

Part of the credits will also support 80 early-stage companies globally through the AWS Generative AI Accelerator program, the company said. Each startup admitted to the accelerator could receive up to $1 million in AWS credits.

Earlier this year, Amazon has expanded its cloud credits to cover the use of models from providers such as Anthropic, Meta, Mistral AI, and Cohere, as the company aims to boost the market share of its AI platform.

AWS’s revenue rose by 17 percent to $9.42 billion in the first quarter.

Howard Wright, global head of Startups at AWS who managed startups relationships, recently left the company.

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