Key Takeaways:
- AMD to acquire Finnish startup Silo AI for $665 million.
- The move aims to boost AMD’s AI capabilities globally.
- Silo AI adds 300 AI scientists and engineers to AMD.
- Silo AI CEO Peter Sarlin will join AMD’s AI Group.
- AMD has recently invested over $125 million in AI companies.
- Silo AI works with Allianz, Philips, Rolls-Royce, and Unilever.
- Silo AI-trained models on LUMI, Europe’s fastest supercomputer.
Advanced Micro Devices, Inc. (AMD) has announced a definitive agreement to acquire Silo AI, the largest private AI lab in Europe, for $665 million in an all-cash transaction.
This strategic move aims to enhance AMD’s AI capabilities and expand its enterprise AI solutions globally. After the news, AMD stock increased by 3.9% to close at 183.96, which showed a positive impact.
AMD is a global leader in semiconductor technology, developing high-performance computing, graphics, and visualization technologies that drive innovation across various industries.
Congratulations! đź‘Ź Looking forward to what the new journey brings!
— MelodicWarrior (@MelodicWarrior1) July 10, 2024
Silo AI is Europe’s largest private AI lab, specializing in developing AI-driven solutions for enterprises. Based in Helsinki, Silo AI’s team of experts creates advanced AI models and applications for diverse industries.
AMD’s acquisition of Helsinki-based Silo AI aligns with its strategy to deliver comprehensive artificial Intelligence(AI) solutions based on open standards.
The deal brings Silo AI’s extensive expertise and resources, including a team of 300 AI scientists and engineers, 125 of whom hold PhDs in AI-related fields, into AMD’s fold.
@ThierryBreton This is the second largest European AI company that got a lot EU taxpayer funds to scale, and is about to be bought by one of the biggest US companies, AMD. This is unacceptable. Time to block these deals.
— Sophie Edel (@sophie_AB19) July 10, 2024
Silo AI specializes in creating end-to-end AI-driven solutions that facilitate seamless integration into various products, services, and operations. Their portfolio includes advanced large language models (LLMs) such as Poro and Viking, developed on AMD platforms.
Peter Sarlin, CEO and co-founder of Silo AI, will remain at Silo AI team, now integrated into the AMD AI Group, and will report to Vamsi Boppana, AMD’s senior vice president AI. The acquisition is anticipated to be finalized in the latter half of 2024, pending regulatory approvals.
The acquisition of Silo AI is part of AMD’s broader initiative to bolster its AI capabilities and infrastructure. Over the past year, AMD has invested over $125 million in various AI companies and acquired Mipsology and Nod.ai to expand its AI ecosystem.
Silo AI’s collaboration with leading enterprises like Allianz, Philips, Rolls-Royce, and Unilever underscores its ability to deliver impactful AI solutions.
Integrating Silo AI into AMD is expected to accelerate the development and deployment of AI models and software solutions powered by AMD’s computing platforms.
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Industry and Market Reactions
Various industry stakeholders have positively received the acquisition. Nishant Batra, Chief Strategy and Technology Officer at Nokia expressed optimism about the enhanced capabilities resulting from the combination of AI technologies and AMD’s innovative compute solutions.
Dr. Pekka Manninen, Director of Science and Technology at CSC-IT Center for Science, Finland, highlighted Silo AI’s role in training large language models on LUMI, Europe’s fastest supercomputer, powered by over 12,000 AMD Instinct MI250X GPUs.
Future Prospects
The acquisition of Silo AI emphasizes AMD’s commitment to expanding its AI solutions and capabilities. By integrating Silo AI’s expertise and resources, AMD aims to serve its global customers better and address complex challenges in deploying AI at scale.
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This strategic move positions AMD as a formidable player in the rapidly evolving AI landscape, which is currently being dominated by Nvidia.
By strategically expanding its AI capabilities through the acquisition of Silo AI, AMD is making a bold move to secure its place as a leader in the AI industry.
The integration of Silo AI’s advanced technologies and expertise will not only enhance AMD’s product offerings but also contribute to the broader advancement of AI technology, benefiting various industries worldwide.
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