Amazon Attracts Startups in Generative AI to Its Cloud Platform
Amazon has launched an accelerator program aimed at attracting startups focused on generative AI to its cloud services, in an effort to compete with rivals Microsoft and Alphabet. Startups will have the opportunity to apply to the 10-week Amazon Web Services program, which will offer up to $300,000 in AWS credits and networking and mentorship opportunities. While the competition for cloud supremacy between the three big providers is well-established, the struggle over generative AI is just beginning. Cloud spending and growth has slowed, and the major providers are hoping that generative AI can boost their businesses. AWS is not making direct investments in AI and machine learning companies, but is fostering a relationship with startups by encouraging them to use its cloud services. Amazon has already attracted several generative AI startups to its cloud, including Stability AI and Runway.