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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.

Silo AI's clientele includes notable companies such as German insurance giant Allianz, luxury car manufacturer Rolls-Royce, and consumer goods company Unilever, among others.

"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 Silo AI CEO and co-founder Peter Sarlin. "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."

Sarlin will continue to lead the Silo AI team as it integrates with AMD's artificial intelligence group, reporting to Boppana.

AMD’s Ongoing AI Investments

Founded in 1969 as a Silicon Valley startup, AMD is a global high-performance and adaptive computing company that produces leading-edge semiconductor products. The acquisition of Silo AI is the latest in a series of investments to bolster its AI strategy. In the past year, AMD has invested over $125 million across 12 AI companies.

Legal Counsel

The Latham corporate team advising AMD was led by partners Tad Freese and Mark Bekheit, and included partners Kirt Switzer, Nicholas DeNovio, Michael Rubin, Anthony Klein, Les Carnegie, Charles Claypoole, Kevin Chambers, Amanda Reeves, Patrick English, Jana Dammann de Chapto, and Harrison White.

Information about the legal counsel for Silo AI was not immediately available on Wednesday.