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AMD to acquire Europe's largest private AI lab

US chip giant AMD has entered into a definitive agreement to buy Finland's Silo AI in an all-cash transaction valued at $665m.

The move is an illustration of the central importance of AI to the future of the global semiconductor market. Silo AI specialises in solutions that help firms integrate AI quickly and easily into their products, services and operations. Its clients include Allianz, Philips, Rolls-Royce and Unilever. Silo AI also creates state-of-the-art open source multilingual LLMs, such as Poro and Viking, on AMD platforms.

For AMD, the agreement furthers its strategy to deliver end-to-end AI solutions based on open standards. Once the deal is complete, Silo AI CEO Peter Sarlin will continue to lead the team as part of the AMD Artificial Intelligence Group. The acquisition is expected to close in the second half of 2024.

“Across every industry, enterprises are looking for fast and effective ways to develop and deploy AI solutions for their unique business needs,” said Vamsi Boppana, senior vice president of the Artificial Intelligence Group at AMD. “Silo AI’s team of trusted AI experts and proven experience developing leadership AI models and solutions, including state-of-the-art LLMs built on AMD platforms, will further accelerate our AI strategy and advance the build-out and rapid implementation of AI solutions for our global customers.”

“At Silo AI, our mission from the start has been to build an AI flagship company. Today's announcement is a logical next step in that pursuit as we join forces with AMD to shape the future of AI computing,” said Peter Sarlin, CEO and co-founder of Silo AI. “We have a well-established history of building successful AI products and delivering value to our customers. We look forward to becoming part of AMD to further scale our impact and develop enterprise solutions and AI models that address the most complex challenges with deploying AI at scale today.”

AMD has invested over USD 125 million in a dozen AI companies in the last 12 months and also acquired Mipsology and Nod.ai to expand its AI ecosystem.


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June 13 2024 1:49 pm V22.4.55-2