Nvidia internal memo: Major US bank looking for Amazon cloud alternative, AWS responds

Capital One is reportedly exploring alternatives to Amazon Web Services. This change will help the US banking major manage rising expenses associated with its artificial intelligence (AI), a report claims. According to an internal Nvidia document obtained by Business Insider, the bank is concerned about its cloud-computing relationship with Amazon and is “looking to control costs.”

In an internal memo, the Nvidia employee revealed that the bank expects demand for specialised chips and reasoning models to increase significantly.