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Amazon says it'll spend $230 million on generative AI startups

TechCrunchTechCrunch · 3m
Amazon says it'll spend $230 million on generative AI startups

Amazon is investing $230 million in startups that are building generative artificial intelligence (AI) applications. The majority of this funding ($80 million) will go towards Amazon's second AWS Generative AI Accelerator program, which aims to position Amazon Web Services (AWS) as a leading choice for startups focusing on generative AI models. The investment includes compute credits for AWS infrastructure, as well as access to experts and technology from Nvidia. Amazon's spending on generative AI tech is in line with its strategy to catch up to competitors in the field. However, the company has faced challenges in this area, including delays in launching its own generative AI model. Additionally, Amazon's Alexa division has also encountered obstacles, such as technical setbacks and internal conflicts. Regulatory scrutiny of big tech investments in AI startups is another hurdle for Amazon.

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