On the subject of AWS Lambda cost and time optimization: also check out AWS Lambda Power Tuning [^1] and its ecosystem of projects. It also supports 1ms billing and 10GB of RAM.
[^1]: https://github.com/alexcasalboni/aws-lambda-power-tuning
59 karma · joined August 25, 2020
[^1]: https://github.com/alexcasalboni/aws-lambda-power-tuning
I could not find any explanation of the differences between io1 and io2 that would justify the increase in IOPS per GiB and durability on the EC2 user guide [^2] or on Amazon Builders Library [^3], though.
Note that 64k is the maximum IOPS per volume, not per instance the volume is attached to. Therefore you can use software RAID configurations to increase your performance or fault tolerance further [^4]
Links:
[^1]: https://docs.aws.amazon.com/AWSEC2/latest/UserGuide/ebs-volu...
[^2]: https://docs.aws.amazon.com/AWSEC2/latest/UserGuide/ec2-ug.p...
[^3]: https://aws.amazon.com/builders-library/
[^4]: https://docs.aws.amazon.com/AWSEC2/latest/UserGuide/raid-con...