| What happened: Amazon is jumping on the generative AI trend with today's unveiling of Bedrock, its cloud service featuring new artificially intelligent tools. What it is: The service from Amazon Web Services will allow developers to build and host generative AI apps and systems in the cloud. Generative AI refers to algorithms like ChatGPT and Midjourney that can create new text, images, and other content. Bedrock will feature foundation models for text and images from AI21 Labs, Anthropic, Stability AI, and other third parties, along with Amazon's own first-party language models known as Titan. Why it matters: AWS, the world's largest provider of cloud infrastructure, is not shying away from competing against cloud rivals Microsoft and Google in the generative AI race. AWS, however, is not tying itself to an individual AI startup, as Microsoft has done with ChatGPT maker OpenAI and Google is doing with chatbot creator Anthropic.
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