Amazon Joins AMD to Back South Korean AI Startup Upstage

AI startup Upstage raised $45 million from investors including Amazon.com Inc. and Advanced Micro Devices Inc. to accelerate development of its next-generation model and expand in the US and the Asia-Pacific region.

The infusion brings Upstage’s total funding to $157 million, the Seoul-based company said in a statement. The Korea Development Bank, an existing backer, participated in the Series B bridge round alongside the two US companies.