Amazon is doubling value of credits for some startups to build on AWS as Microsoft cloud gains ground [CNBC]
Amazon.com, Inc. (AMZN)
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Source: CNBC
Starting July 1, startups that have raised a Series A round of funding in the past year will be eligible for $200,000 in credits through AWS' Activate program, up from $100,000 before, the Amazon cloud unit said in an email to venture capitalists this week. Seed-stage startups will still be eligible for $100,000 in credits, AWS said. Two people briefed on the changes confirmed the credit increase, though they asked not to be named because the information is private. An AWS spokesperson didn't immediately provide a comment. Matt Garman, who was recently promoted to CEO of AWS after running sales and marketing, was meeting with founders in Silicon Valley this week, the people said. Garman told the execs that collaborating with startups would always be a primary focus, one of the people said, adding that Garman described AI companies as AWS' ideal customers. Amazon, which is best known for its massive online retail operation, derives most of its profit from AWS, a business it laun
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- 4/30/24 - Beat
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