• News

    AWS 230M Funding For Generative AI Startups

    Tyler Joe

    By Tyler Joe - Jun 18, 2024 | Updated On: 18 June, 2024 | 2 min read

    By Tyler Joe , 2 min read - Jun 18, 2024

    Updated On: 18 June, 2024

    AWS 230M Funding. Image Credit: Social Media.

  • Amazon Web Services, the cloud computing giant, recently announced they have committed to AWS 230M funding to support generative AI startups worldwide.  This move will now benefit not only Amazon but all of the start-ups and the development of generative AI.

    AWS funding plans to give $1 million to each of the top 80 startups that are bringing new innovation in the generative AI space. Startups that want funding must prove themselves by July 19 to secure the funding.

    Benefits For Participating Startups

    AWS funding will ensure that all of the startups get financial backing, which will help them build, train, and test their generative AI. This will boost the pace of progress and make space for innovation.

  • AWS has helped many startups build, launch, and scale their business for over 18 years.

    They have a history of supporting startups and AI businesses more than any cloud provider, and currently, more than 96% of all the AI and ML unicorns run on AWS.

    AWS 230M Funding

    AWS 230M Funding. Image Credit: Social Media.

    The vice president of AWS, Matt Wood, also said

    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.

  • AWS 230M Funding: Partnership with NVIDIA

    Additionally, AWS has partnered with Nvidia, the number one creator of GPUs, which is very important for generative AI development.

    Not only that, Nvidia is one of the largest companies by market cap in the US, and this partnership will surely help a lot of startups make their breakthrough.

    AWS 230M Funding

    AWS 230M Funding. Image Credit: Social Media.

    Additionally, those who are selected for the startup program will be able to join the Nvidia Inception program, which will guide and support the startups.

    AWS 230M funding list will be announced on September 10, and they will host a personal session on October 1 in the Amazon Seattle Campus.

  • All of the 80 startups will be able to meet all of the market’s investors, customers, partners, and leaders in these events.

    Check out our article on Best 9 Amazon SeedTime Essential Deals In March 2024!

    Leader Of the AI Revolution

    This move by AWS shows us the importance of AI and how crucial AI is to creating content.

    Since Amazon already has a lot of business related to music, images, and other forms of content, this backing for Startups is very strategic.

  • With these investments, Amazon hopes to keep up with the changing era and involvement of the AI revolution.

  • Did you notice an error ?

    Please help us make corrections by submitting a suggestion. Your help is greatly appreciated!