What Does Foundation Model AI Mean?

A foundation model is a deep learning algorithm that has been pre-trained with extremely large data sets scraped from the public internet.

Techopedia Explains Foundation Model AI

Foundation models are expected to make AI projects easier and cheaper for large enterprise companies to execute. Instead of having to spend millions of dollars on high performance cloud GPUs to train a machine learning model, companies can use data that has been pre-trained and focus their attention (and budget) on tuning the model for specific tasks.