Amazon's Alexa Fund, originally focused on voice technology, is evolving to invest in AI startups following advancements in large language models. Fund leader Paul Bernard announced that the fund will now target AI-enabled hardware and smart agents, marking a pivotal shift in its investment strategy. Recent investments include NinjaTech AI, which develops versatile AI tools, and Hedra, a media company focused on generative content. Other new portfolio companies are Ario, a family management app, and HeyBoss, which simplifies app creation through descriptions. This strategy enhances Amazon's AI ecosystem while fostering innovation.