E-commerce giant %Amazon (Nasdaq: AMZN) is reportedly spending millions of dollars developing a new %ArtificialIntelligence (A.I.) model codenamed %Olympus.
The Reuters News Agency is reporting that Amazon’s A.I. large language learning model has two trillion parameters, double the power of OpenAI’s GPT-4 chatbot that has one trillion parameters.
Large language learning models consumer vast amounts of data and information to develop understanding and generate human-like responses to user prompts and questions.
Amazon is hoping it’s A.I. project will eventually top the offerings of competitors such as OpenAI, %Alphabet (Nasdaq: GOOGL) and %MetaPlatforms (Nasdaq: META).
A team of engineers and programmers that previously worked on Amazon’s smart home device “Alexa” have been reassigned to Project Olympus as the company ramps up its investments in A.I. technologies.
In addition to Olympus, Amazon recently partnered with A.I. model start-ups such as Anthropic and AI21 Labs, offering them to Amazon Web Services (AWS) customers.
In their most recent earnings call with media and analysts, Amazon executives said the company is increasing investments in A.I. while cutting back on the company’s transportation and retail businesses.
Amazon’s stock has increased 66% this year and currently trades at $142.71 U.S. per share.