AMAZON WEB SERVICES
Amazon hits $2 trillion in valuation on AI fervor, rate cut bets
The stock rose 3.4% to $192.70, giving the e-commerce giant a market value of over $2 trillion and putting it in the same club as technology heavyweights Microsoft Corp, Apple Inc, Nvidia Corp and Alphabet.
AI startup EvolutionaryScale raises $142 million to advance tech in biology
Calling it a "ChatGPT moment for biology," Lux Capital cofounder and managing partner Josh Wolfe told the company has developed the first large language model for creating novel proteins and other biological systems.
Amazon pledges $230 million to boost generative AI startups
The initiative will offer early stage companies AWS cloud computing credits, mentorship, and education to enhance their use of AI and machine learning technologies, according to the company. Participating startups will gain access to AWS computing, storage, database, and custom AI chip services through these credits.
Amazon pledges $230 million to boost generative AI startups
Cloud computing giant Amazon Web Services on Thursday announced a $230 million commitment aimed at accelerating the development of generative artificial intelligence applications by startups worldwide. The training of generative AI models behind apps such as ChatGPT requires an immense amount computing power that quickly depletes the cash reserves of startups.
Amazon adds $230 million in cloud credits to AI startups
Amazon's $230 million investment in AWS credits for generative AI startups includes access to computing power and infrastructure. The company's focus on AI startups aims to enable quick iteration and pivoting.
HCL Technologies launches Enterprise AI Foundry
HCL Technologies said in a media release that, the company launch of HCLTech Enterprise AI Foundry to "simplify and scale enterprise AI journeys." The release further added, that this platform will effectively enable business leaders to focus on real-world outcomes and help development teams build next-gen AI-powered applications with ease.
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SAP aims to double embedded AI use cases to 100 by year-end: SAP CEO
Klein was speaking at SAP’s annual conference Sapphire, where the company unveiled generative AI innovations and partnerships. Klein was speaking at SAP’s annual conference Sapphire, where the company unveiled generative AI innovations and partnerships.
Ola is shifting its IT ops to Krutrim from AWS cloud
This comes two weeks after Ola founder Bhavish Aggarwal snapped ties with Microsoft Azure after LinkedIn deleted his post related to "pronoun illness" of western AI models. Experts, however, say that losing Ola as a customer for AWS and Microsoft is only a needle in the haystack.
Indian startup ecosystem is mature, set to bolster Indian economy: AWS' Kumara Raghavan
AWS' Kumara Raghavan discussed the mature Indian startup ecosystem's potential to become the third largest economy, citing labor addition, infrastructure growth, and GenAI technology as key factors.
Amazon in talks with Italy to invest billions in cloud plan
Amazon's AWS in talks with Italy to invest billions in expanding data centre business, boosting cloud offer in Europe.
It’ll take time to leverage full potential of GenAI: : TCS’ AI-Cloud biz head
Siva Ganesan, head, TCS’ AI.Cloud business unit told ET that upskilling of the workforce, reimagining core business processes, focusing on return on investments and conforming to regulatory needs are some of the challenges that organisations face with GenAI.
Amazon to launch AI-overhauled Alexa with paid plans, CNBC reports
While the e-commerce giant is yet to nail down the price of the new services, a subscription to Alexa will not be included in its popular $139 annual Prime offering, the report said, citing people with knowledge of the company's plans.
AWS makes Amazon Bedrock available for developers in India
Making the announcement at the AWS Summit Bengaluru, the global technology giant has piloted the service with Indian organisations such as Healthify, L&T Technology Services (LTTS), Max Life Insurance, GupShup, Fibe, Happy Fox, ShellKode and Yellow.ai.
DoT reassures telcos over data shift to Amazon Web Services
The Department of Telecommunications (DoT) faced backlash from mobile phone companies over plans to migrate its digital intelligence platform (DIP) to Amazon Web Services (AWS) from servers run by BSNL and C-DoT. The move was criticized for compromising consumer privacy. However, DoT clarified that critical subscriber database records won't be stored on AWS, easing concerns. The DIP is crucial for fighting cybercrimes and fraud, facilitating real-time intelligence sharing among stakeholders. The shift aims to address data surge challenges, with AWS being an approved vendor of MeitY, hosting CoWIN data.
How a two-page CV helped this techie land a job at Google straight after her Masters!
In a LinkedIn post, software engineer Sonakshi Pandey shared her journey of landing her dream job immediately after completing her Master's. She recounted how inspired by a YouTube video, she transitioned from software development to solution architecture at Amazon Web Services. This role entailed increased involvement in public speaking and client presentations. After accumulating five years of experience, she decided to apply to Google and Microsoft in 2021.
Amazon replaces cloud unit chief Adam Selipsky with veteran Matt Garman
Senior Vice President Matt Garman will take on Selipsky's role at AWS, effective June 3, the firm said.
Amazon pumps Rs 1,660 crore into India marketplace entity
Amazon's biggest rivals in India, Flipkart and Meesho, are also raising fresh capital. Walmart-backed Flipkart received a cash infusion of about Rs 924 crore in two parts from its related entities based in Singapore in January. Meesho closed a $275 million funding round comprising a mix of primary and secondary share sales.
Amazon to invest $1.3 billion in France, create 3,000 jobs
Amazon's 1.2 billion euros investment in France to create 3,000 jobs, enhance cloud infrastructure for GenAI, support AI startups, and research centers. Plans to expand logistics network for faster, eco-friendly delivery.
Eye on AI: AI boosts growth for cloud giants, US newspapers sue Microsoft, OpenAI
In the January-toMarch quarter, Amazon’s cloud computing arm Amazon Web Services, Microsoft’s Azure and Google Cloud grew at 17%, 31% and 28%, respectively, the companies reported. Analysts said this was a sign that AI is contributing to the growth and that overall cloud spending is also accelerating, Reuters reported. On the other hand, Meta CEO Mark Zuckerberg in its earnings call emphasised the company’s longterm investment in AI, which led to its shares sinking by 19% on Wednesday, wiping out over $200 billion in market capitalisation.
There is a critical need for upskilling initiatives in India, says Pearson executive
In an interview with ET’s Sreeradha Basu, Jane Baker, vice-president, Workforce Skills at learning company Pearson said India stands out as a leader in the global upskilling market due to its sheer volume of learners seeking to enhance their skills and through the active support of government initiatives like Skill India.
Amazon adds AI expert Andrew Ng to board as GenAI race heats up
Amazon's cloud unit is facing pressure from Microsoft's early pact with ChatGPT-maker OpenAI and integration of its technology into Azure, while Alexa voice assistant is in race with genAI chat tools from OpenAI and Google.
Amazon owes $525 million in cloud-storage patent fight: US jury
The jury determined that AWS infringed three Kove patents covering technology that Kove said had become "essential" to the ability of Amazon's cloud-computing arm to "store and retrieve massive amounts of data."
Amazon Web Services lays off hundreds of tech, sales staff: report
Amazon Web Services has laid off a few hundred employees in its unit that works on technology for physical retail stores, and several hundred more in its sales, marketing and global services division, news site The Information reported on Wednesday.
AWS, EkStep Foundation partner to develop digital public goods
Amazon Web Services India and EkStep Foundation have established a Joint Innovation Center (JIC) to develop digital solutions for public service delivery such as digital public goods (DPGs) and digital public infrastructures (DPIs).
ETtech Explainer: All you wanted to know about Nvidia’s Blackwell AI chip
Nvidia highlighted that Blackwell chips enable organisations to develop and operate real-time generative AI on trillion-parameter large language models while reducing costs and energy consumption by up to 25 times compared to its predecessor.
'AWS working with Indian startups to solve for world'
Cloud major looking to export ‘great ideas’ from here, says Gaurav Arora, director and head of startup business in Asia Pacific and Japan at AWS.
Amazon pumps in Rs 830 crore in its India marketplace entity
On January 19, the firm invested Rs 350 crore in the entity that runs its fintech unit Amazon Pay. With this, Amazon's investment in its India entities this year have already crossed Rs 1,000 crore.
Over a third of EU firms adopt AI, bringing digital goals in reach
The European Commission, the EU executive, in 2021 presented its 2030 Digital Decade vision to transform the region, with 80% of the population acquiring basic digital skills, 5G connectivity everywhere and 75% of EU companies using cloud services.
Google Cloud removes data transfer fees when clients switch to rivals
Many cloud providers, including Microsoft's Azure and Amazon Web Services (AWS), charge customers based on the amount of data transferred when they switch vendors.
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