Semiconductor company AMD, advised by Latham & Watkins LLP, announced plans on Wednesday to acquire the private European artificial intelligence lab Silo AI in an all-cash deal valued at approximately $665 million.
AMD Acquires Silo AI for $665M : Strategic AI Expansion
The acquisition, anticipated to close in the second half of the year, represents a “significant step” in AMD’s strategy to deliver end-to-end AI solutions in collaboration with the global AI ecosystem, according to the company’s statement.
“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 large language models 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.”
AMD Acquires Silo AI for $665M : Silo AI’s Role
Based in Helsinki with operations in both Europe and North America, Silo AI specializes in end-to-end AI solutions that help customers quickly and easily integrate AI into their products, services, and operations. The company also develops open-source, multilingual large language models on AMD platforms.
