#AWSActivate #CloudComputing #StartupFunding
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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 Amazon Web Services (AWS) platform. In a move to stay ahead of competitors Microsoft and Google, Amazon is doubling the value of credits for certain startups, offering $200,000 in credits to those that have secured Series A funding in the last year. This enhanced credit, up from the previous $100,000, will be available starting July 1 through the AWS Activate program.
Matt Garman, the recently appointed CEO of AWS, emphasized the importance of collaborating with startups during his visit to Silicon Valley, where he highlighted AI companies as AWS' preferred clientele. An AWS spokesperson confirmed the credit enhancement and Garman's engagement in Silicon Valley, noting that the duration of the credits has also been extended from one year to three years.
AWS has become a major profit driver for Amazon since its inception in 2006, outpacing competitors like Microsoft and Google. Despite AWS' leading position with $25 billion in revenue in the quarter, a 17% increase year-over-year, Microsoft Azure and Google Cloud are rapidly expanding, especially in AI services. Microsoft's collaboration with OpenAI on ChatGPT and Google's development of large language models like Gemini have attracted significant AI workloads.
To keep pace in the AI domain, Amazon has invested heavily in its OpenAI competitor Anthropic. Following the departure of former AWS CEO Adam Selipsky, Matt Garman took the helm, aiming to counter Microsoft and Google's advancements in the cloud infrastructure market. Startups remain a pivotal target for cloud providers seeking to support burgeoning businesses that could evolve into significant enterprises.
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. The tech giant also recently hired David Luan, co-founder of AI startup Adept, and acquired licensing rights to Adept's cutting-edge technology and datasets.
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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