🚀 Amazon doubling AWS Startup Credits

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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Amazon's AWS is doubling the value of its cloud credits for Series A startups to $200,000 as of July 1, 2024, up from $100,000, to strengthen its competitive position against Microsoft in AI services. Seed-stage startups remain eligible for $100,000 in credits. AWS' new credits will expire in three years, as opposed to the previous one-year expiration. This initiative, confirmed by AWS and part of CEO Matt Garman's outreach in Silicon Valley, highlights the company's commitment to AI startups, which AWS sees as ideal customers. AWS leads the cloud market with $25 billion in Q1 revenue, but Microsoft Azure and Google Cloud are rapidly growing, driven by advanced AI models. Microsoft, notably through its partnership with OpenAI and Y Combinator, offers significant cloud credits, while AWS has launched a generative AI accelerator program providing up to $1 million in cloud credits. Despite AWS's current market lead, its share has slightly declined, with Azure and Google Cloud increasing their shares.

2. This summer, U.S. air travel is surging, with the TSA screening a record 2.99 million people on June 23, and forecasting over 32 million travelers between June 28 and July 8, a 5.4% increase from last year. Despite this boom, airlines face challenges such as supply chain delays, Boeing safety issues, air traffic controller shortages, and extreme weather. Although airlines like Delta and American express confidence in their reliability, the FAA warns of potential delays, particularly in New York City and Florida. Travelers are advised to prepare thoroughly, utilize airline apps for benefits, and stay informed about flight status to navigate the busy travel season effectively. Airfares are currently lower than last summer, but rising maintenance and fuel costs, alongside new plane supply issues, may lead to future price hikes.

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4. Headlines

   1. While remote work in North America and Europe has declined, the amount of hires from low-income countries by US-based companies has continued to increase since 2020.

   2. While inflation continues above target levels the price of used cars has fallen by nearly 10% in the last 12 months.

   _{* This is sponsored content.}

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