9JUNE 2024TOP STORIESAMAZON TO INCENTIVIZE GEN-AI STARTUPS BY OFFERING ACCESS TO AWS'SCOMPUTING FACILITIESAmazon is making a significant investment in artificial intelligence startups by allocating $230 million in Amazon Web Services (AWS) credits. This initiative aims to attract early-stage generative AI startups by offering them free access to AWS's computing power, AI models, and infrastructure, provided they develop their companies on AWS.Cloud providers, including Microsoft Azure and Google Cloud, commonly offer credits to entice enterprises to use their services, as cloud costs can become substantial as companies scale. This practice is aimed at securing long-term clients by supporting them from their nascent stages.Earlier this year, Amazon expanded its cloud credits to include the use of AI models from providers such as Anthropic, Meta, Mistral AI, and Cohere, enhancing the appeal of its AI platform and aiming to increase its market share.The demand for AI has driven up the usage of cloud services, contributing to the growth of cloud providers like AWS. In the first quarter of this year, AWS's revenue rose by 17 percent to $9.42 billion, surpassing analyst expectations. However, the investments by tech giants in AI startups have also attracted regulatory scrutiny over antitrust concerns.In related news, Howard Wright, who managed startup relationships as the global head of Startups at AWS, recently left the company. Amazon has not commented on his departure. ATHER ENERGY OPTS AURANGABAD FOR ITS THIRD MANUFACTURING FACILITYAther Energy, an electric vehicle manufacturer, has chosen Aurangabad in Maharashtra for its third plant, according to a report by the Business Standard. The company plans to invest 1,000 crore in this new facility, which will be developed in phases over 100 acres in Bidkin town, Aurangabad. The agreement for the new plant is expected to be finalized soon.Ather Energy currently operates an assembly plant and a battery plant in Hosur, Tamil Nadu. This expansion into Maharashtra marks a significant step in the company's growth strategy.In a recent development, Hero MotoCorp acquired an additional 2.2 percent stake in Ather Energy for Rs 124 crore. Ather Energy, based in Bengaluru, focuses on the design, manufacturing, production, sale, and servicing of electric vehicles and charging infrastructure. The company also manages storage, distribution, and energy management systems, particularly in the form of batteries.Ather Energy was founded in 2013 by Tarun Mehta and Swapnil Jain, graduates of the Indian Institute of Technology Madras. In 2022, the company raised approximately $128 million in a Series E funding round, which included investments from the National Investment and Infrastructure Fund Ltd. and existing shareholders such as Hero MotoCorp Ltd.
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