Amazon AMZN is forging ahead to enhance its generative AI potential through Amazon Web Services (“AWS”). Shares of Amazon have surged 83.3% in the past year, a feat propelled largely by AWS excellence.
The recent collaboration with South Korean AI startup, Upstage, underlines Amazon’s commitment to this endeavo. Upstage has introduced its small language model (SLM) SOLAR MINI on AWS, choosing Amazon SageMaker for training.
SOLAR MINI is adept at executing various language functions in both Korean and English, including comprehension, summarization, translation, and content prediction.
This model eliminates the need to start generative AI models from scratch, facilitating customers to seamlessly launch generative AI applications.
Given its lightweight nature compared to LLMs, SOLAR MINI is efficient at streamlining the process of utilizing a trained machine learning model to make predictions at reduced costs, leveraging a training dataset of 10.7 billion parameters.
Noteworthy is the availability of SOLAR MINI on Amazon SageMaker JumpStart and AWS Marketplace.
The collaborative venture is poised to enhance AWS’s corporate appeal across a wide array of industries, including entertainment, healthcare, research, e-commerce, and education.
Expanding Gen AI Initiatives
Alongside the Upstage partnership, AWS has extended its relationship with NVIDIA NVDA to empower its portfolio with generative AI technology.
The introduction of the NVIDIA Blackwell GPU platform on AWS promises to accelerate the inference workloads for resource-intensive, multi-trillion parameter language models.
AWS is dedicated to enabling customers to explore novel generative AI capabilities through the provision of secure and cutting-edge infrastructure, software, and services.
Key offerings include the NVIDIA GB200 Grace Blackwell Superchip and B100 Tensor Core GPUs, Amazon Bedrock, Amazon Titan Embeddings model, Meta’s Llama 2, and Amazon CodeWhisperer.
Market Outlook and Conclusion
The burgeoning generative AI efforts position Amazon well to tap into the significant growth opportunities in the sector.
Forecasts from Allied Market Research suggest the global generative AI market could exceed $191.8 billion by 2032, registering a robust CAGR of 34.1% between 2023 and 2032.
AWS’s deepening presence in this promising market should sustain its performance and drive customer adoption, strengthening its leadership in cloud computing, where competitors like Microsoft MSFT and Alphabet’s GOOGL Google are intensifying their presence.
Amazon, holding a Zacks Rank #2 (Buy), commanded 31% of the global cloud provider market in Q4 2023, per the latest data from Synergy Research Group.
In the same quarter, AWS recorded revenues of $24.2 billion (14% of total sales), marking a 13% year-over-year growth.
As Amazon continues to elevate its gen AI initiatives, the company is primed to leverage the full potential of this transformative technology.