AWS Saving plans can now be applied to Lambda!
AWS Lambda now participates in Compute Savings Plans, a flexible pricing model that allows customers to save money on Amazon EC2, AWS Fargate, and now on AWS Lambda in exchange for making a commitment to a consistent amount of compute usage (e.g. $10/hour) for a 1 or 3 year term.
With Savings Plans, Lambda usage for Duration, Provisioned Concurrency, and Duration (Provisioned Concurrency) will be charged at discounted Savings Plans rates of up to 17% for a 1 or 3 year term, up to the commitment level. While there isn’t a specific discount for Requests usage, it will still be covered by the Savings Plans commitment, thus helping customers better use up their commitment. With Compute Savings Plans, customers now have the flexibility to use the right compute option across EC2, Fargate, and Lambda based on their needs while continuing to save money, all without having to perform exchanges or modifications.Starting today, AWS Lambda is included in Compute Savings Plans in all AWS regions where Savings Plans is currently available. Existing Compute Savings Plans will automatically apply to Lambda usage from Feb 01, 2020. Get started with Savings Plans in AWS Cost Explorer, or read the AWS News Blog post to learn more.
Credits: AWS official announcement https://aws.amazon.com/about-aws/whats-new/2020/02/aws-lambda-participates-in-compute-savings-plans/