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Amazon Doubles Value of Credits for Startups to Build on AWS Cloud
As a major player in the cloud infrastructure market, Amazon is taking bold steps to attract startups to its platform. In a move to stay ahead of competitors Microsoft and Google, Amazon is doubling the value of credits it provides to certain startups for utilizing its cloud infrastructure. The Amazon Web Services (AWS) Activate program will now offer $200,000 in credits to startups that have secured Series A funding in the last year, up from the previous $100,000.
This enhanced credit is part of Amazon's strategy to support burgeoning businesses that could evolve into significant enterprises. Matt Garman, the recently appointed CEO of AWS, emphasized the significance of collaborating with startups during his visit to Silicon Valley, where he highlighted AI companies as AWS' preferred clientele.
The duration of the credits has also been extended; the $100,000 credit used to be valid for one year, while the $200,000 credit will now remain valid for three years. This move is seen as a bid to counter Microsoft and Google's advancements in the cloud infrastructure market, particularly in AI services.
Amazon's investment in its OpenAI competitor Anthropic is also a key aspect of its strategy to keep pace in the AI domain. The tech giant has also recently hired David Luan, co-founder of AI startup Adept, and acquired licensing rights to Adept's cutting-edge technology and datasets.
In addition to its enhanced Activate program, Amazon introduced a 10-week generative AI accelerator initiative, providing participants access to up to $1 million in cloud credits. This move is seen as a direct response to Microsoft's partnership with Silicon Valley accelerator Y Combinator, offering $350,000 Azure credits and GPUs for training.
Original Article: https://www.cnbc.com/2024/06/28/amazon-doubling-value-of-credits-for-startups-to-build-on-aws-cloud.html
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