According to the Economic and Financial Intelligence APP, it was reported that Google (GOOGL.US) has signed a non-exclusive cloud computing agreement with the venture capital firm Sequoia Capital.

Reports stated that this transaction allows AI startups supported by Sequoia Capital to receive up to 0.5 million US dollars of free cloud computing and training services from Google.

Currently, Google has provided up to 0.35 million US dollars in cloud credit to other AI startups, including companies associated with the venture capital firm Y Combinator. These companies can utilize clusters of Nvidia (NVDA.US) GPUs and Google TPUs.

James Lee, General Manager of Google Cloud Startups and AI Projects, stated that besides cloud credit, Google can help venture companies compare various options, including Google and third-party models. "You don't have to reinvent every wheel," he said in an interview.

Sequoia Capital partner Bogomil Balkansky mentioned that this transaction is particularly helpful for early-stage companies as they may only have a few million dollars in funding, a large part of which could be consumed by cloud costs.

This transaction also helps ensure that portfolio companies have sufficient computing power. Balkansky stated: "We are still living in a scarce environment."

In fact, most venture capital firms are enthusiastic about investing in ai startups. Andreessen Horowitz has purchased and stored thousands of GPUs, including many nvidia H100 processors, aiming to win trades for ai startups.

Sequoia Capital has heavily invested in a series of large technology companies, including Google, nvidia, apple (AAPL.US), and cisco (CSCO.US).