AWS Invests €215.2M to Boost Global GenAI Startups

AWS Commits $230M to Boost Global Generative AI Startups

Amazon Web Services (AWS) recently announced a $230M commitment to assist startups in developing generative AI applications. The initiative offers AWS credits, mentorship, and education to early-stage startups. This generous support aims to amplify the use of artificial intelligence (AI) and machine learning (ML) technologies globally.

Second Cohort of AWS Generative AI Accelerator

Part of the funding will be allocated to the second cohort of the AWS Generative AI Accelerator programme. This programme supports 80 top early-stage startups, providing up to $1M in AWS credits each.

Matt Wood, VP of AI Products at AWS, emphasized the company’s long-standing support for startups, stating that 96% of AI/ML unicorns operate on AWS.

"Harnessing AWS Services and AI Chips

Startups can leverage AWS credits for accessing compute, storage, and database solutions. They can also utilize specialized AI chips like AWS Trainium and AWS Inferentia2, known for their high performance and cost-efficiency.

AWS services such as Amazon SageMaker and Amazon Bedrock will be crucial for developing, training, and securely building generative AI applications.

Programme Structure and Partner Support

The AWS Generative AI Accelerator targets early-stage startups solving challenges in sectors like finance, healthcare, media, business, and climate change. Over a 10-week programme, participants will enhance ML performance and optimize their stacks.

Additionally, NVIDIA, the program’s presenting partner, will provide technology insights and invite startups to join its Inception programme aimed at supporting innovative startups.

Final Section

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