08:42 AM EDT, 06/13/2024 (MT Newswires) -- Amazon.com's ( AMZN ) cloud-computing unit, Amazon Web Services, said Thursday that it has committed $230 million to startups to speed up the creation of generative AI applications.

AWS said this will provide startups with AWS credits, mentorship, and education to help them use artificial intelligence and machine learning technologies more effectively.

The company also said that as part of the new commitment, it will fund the second cohort of the AWS Generative AI Accelerator, which will offer up to $1 million in credits to each of the top 80 early-stage generative AI startups.

AWS said it will announce selected startups for the second cohort on Sept. 10, and the program will kick off on Oct. 1.

Price: 186.66, Change: -0.23, Percent Change: -0.12