Amazon Web Services Invests $230 Million in Generative AI Startups

By : Hikmatu Bilali

Date : vendredi, 14 juin 2024 16:25

Participation in programs like the AWS Generative AI Accelerator can help African startups gain visibility on a global scale, attracting investors and partners, and ultimately driving economic growth and technological advancement in the region.

Amazon Web Services (AWS) has unveiled a $230 million investment to boost generative AI startups globally, AWS announced June 13. The move aims to accelerate innovative AI applications across sectors, supporting startups with AWS credits, mentorship, and resources.

"We'll assist startups in launching and scaling businesses, unleashing new AI applications," said Matt Wood, VP of AI Products at AWS.

The AWS Generative AI Accelerator, a 10-week program, will onboard 80 startups, offering hands-on expertise, mentorship, and up to $1 million in credits each. Applications are open until July 19.

Selected startups gain access to AWS compute, storage, and AI chips like AWS Trainium and AWS Inferentia2, plus Amazon SageMaker.

AWS's dominant 41.5% share of the cloud computing market underscores its significant influence. This level of control suggests that initiatives like the AWS Generative AI Accelerator can shape global AI innovation, including emerging markets like Africa.

Hikmatu Bilali


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