U.S. e-commerce platform Amazon is investing millions of dollars to develop and train an ambitious LLM model that will be able to compete with OpenAI and Alphabet's models.
LLM is the underlying technology for AI tools that learn from large data sets and generate human-like responses.
According to preliminary information, the model is called Olympus and has 2 trillion parameters, which will make it one of the most trainable models. By comparison, OpenAI's GPT-4 model has only one trillion parameters.
The company has not yet disclosed details of the project, but social networks and publications have already received anonymous information from those directly involved in the project, according to Reuters.
Amazon has already trained smaller models, like the Titan. It has also partnered with artificial intelligence modeling startups such as Anthropic and AI21 Labs.
Amazon believes that its own models will make the company's offerings more attractive to Amazon Web Services users. There is no specific timeline for the release of the new model.
Amazon reported strong financial results for the third quarter. The company reported third-quarter net income that far exceeded analyst estimates. Projected revenue for the final quarter of the year is roughly in line with expectations. Investors are keeping a close eye on earnings reports, and fourth-quarter data will be the most important for Amazon as it includes the holiday shopping season.
Amazon stock has been on an upward trajectory since late October, with AMZN stock currently trading at $142.08.
However, the silver lining is information from Amazon about job cuts in its music division. This follows a series of layoffs of 27,000 employees by 2023.
Employees in Latin America, North America, and Europe have received notices of job cuts. An Amazon spokesperson confirmed the layoffs, Reuters reported.
Amazon has been quietly cutting jobs over the past month, including in its studios, video, and music divisions.
It's worth noting that Amazon Music, which includes podcasts, raised its monthly subscription price by a dollar to $10.99 earlier this year.
Read also: OANDA Japan to close inactive customer accounts.