South Korean AI startup Upstage secures $45 million investment from Amazon, AMD, and others.

[South Korean AI startup Upstage raises $45 million from investors including Amazon and AMD] Upstage, an artificial intelligence startup based in Seoul, South Korea, has raised $45 million from investors including Amazon ( AMZN.O ) and AMD ( AMD.O ) to accelerate the development of next-generation models and expand its business in the U.S. and Asia-Pacific. This funding brings Upstage's total financing to $157 million. According to the agreement, Upstage agrees to use Amazon Web Services (AWS) as its cloud service provider for building and deploying foundational models. The company will also leverage AWS's machine learning infrastructure and custom-designed artificial intelligence chips. Upstage was co-founded by Sung Kim in 2020, who previously led the artificial intelligence development team at South Korea's largest internet company, Naver. (Jinshi)