New York, New York, April 2023 - Usage AI, a leading provider of cost-saving solutions for enterprise businesses using Amazon Web Services (AWS), is proud to announce the launch of its groundbreaking new product: ElastiCache Reserved Instances (RIs) with guaranteed buyback. This offering is an industry first and has been developed in collaboration with AWS.

ElastiCache Reserved Instances offer various pricing options, with No Upfront Reserved Instances (NURI) providing significant savings compared to On-Demand pricing. Usage AI focuses on three-year, no-upfront ElastiCache RIs, enabling customers to enjoy substantial cost savings without the long-term commitment typically associated with these services. The guaranteed buyback feature provides customers with unparalleled flexibility, allowing them to adjust their usage as needed without incurring any financial penalties.

Usage AI's ElastiCache RIs with guaranteed buyback support all instance families on a case-by-case basis.

In anticipation of customer inquiries, Usage AI has provided answers to several potential questions:

A: Usage AI is among the first providers to offer ElastiCache Reserved Instances with a guaranteed buyback. This unique offering allows customers to enjoy the cost-saving benefits of OpenSearch RIs without the long-term lock-in, giving them the flexibility to adapt their usage as their business needs change.

A: When customers purchase ElastiCache RIs with guaranteed buyback from Usage AI, they have the assurance that, should they no longer require the RIs or wish to adjust their usage, Usage AI will buy back the underutilized hours as well as broker its exchange across its pool of hundreds of customers. This allows customers to avoid financial penalties and maintain optimal cost efficiency.

A: One-year RIs offer a shorter commitment period and lower overall savings compared to three-year RIs. Usage AI's ElastiCache RIs with guaranteed buyback use three-year, no-upfront RIs, providing customers with substantial savings and the opportunity to avoid long-term lock-in.

A: To learn more about ElastiCache RIs with guaranteed buyback and to get started with Usage AI, customers can visit the company's website at www.usage.ai or contact the support team at [email protected]. Usage AI also offers a self-serve platform for added convenience.

A: Yes, the guaranteed buyback feature is specifically designed to accommodate customers with changing usage patterns. This flexibility allows customers to adjust their ElastiCache RIs as needed without incurring financial penalties.