Amazon is in talks to equip IBM with NVIDIA GPUs for enterprise AI training workloads.

AI initiatives by businesses worldwide are attracting significant investor attention. Recent developments include Nokia, a former phone maker now focused on telecom equipment, purchasing an application programming interface (API) hub and marketplace from US company Rapid—the largest of its kind in the world. This acquisition is part of Nokia's broader effort to boost revenues from 5G deployments, which have been a key driver of AI growth in recent years, as 5G speeds allow faster processing of AI tasks on mobile devices.

AI startup CoreWeave has secured more than $650 million in funding led by top names including Jane Street, Magnetar, Fidelity Management, and Macquarie Capital. The company specializes in providing cloud-based graphics processing unit (GPU) infrastructure to artificial intelligence developers and is now valued at more than $23 billion. In May, CoreWeave was valued at $19 billion following a funding round led by investment firm Coatue that raised over $1 billion. According to venture capital firm Accel, funding of AI and cloud companies in the US, Europe, and Israel is estimated to reach $79.2 billion by the end of the year.

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Amazon.com, Inc. (NASDAQ:AMZN), with a market capitalization of $2.1 trillion, operates as a technology conglomerate with core interests in ecommerce. On November 13, Business Insider reported that the tech titan was in talks with IBM to provide access to powerful NVIDIA GPUs through Amazon Web Services, the cloud arm of Amazon. According to the report, if the deal is signed, IBM would use EC2 servers at AWS equipped with NVIDIA artificial intelligence chips. One source told Business Insider that the IBM deal is for AI training and the talks are still ongoing.