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Amazon commits USD 230 million for startups building GenAI-powered applications
Generative AI Infrastructure
Jun 13, 2024
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Generative AI Infrastructure

Generative AI Infrastructure

Jun 13, 2024

Amazon commits USD 230 million for startups building GenAI-powered applications

  • Amazon will dedicate up to USD 230 million to support startups creating GenAI-powered applications. Much of the funding tranche will primarily be in compute credits for AWS, precluding the transfer to other cloud service providers.

  • This investment, which involves about USD 80 million for Amazon’s second AWS Generative AI Accelerator program, aims to position AWS as an appealing option for cloud infrastructure for startups creating AI-driven models for their offerings.

  • As part of the program, startups will have access to expertise from NVIDIA, the presenting partner. They will also be offered an opportunity to join NVIDIA's Inception program, which helps connect companies with potential investors and consulting resources.

  • The announcement showcases a significant expansion of Amazon’s Generative AI Accelerator program. Last year’s cohort housed only 21 startups and received USD 300,000 in AWS compute credits.

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