Intel may have to watch its back after archrival AMD announced the surprise acquisition of Silo AI, Europe's largest private artificial intelligence lab, in a deal valued at around $665 million.
This cash deal marks an important step in AMD’s strategy to provide comprehensive AI solutions across multiple platforms and industries.
Headquartered in Helsinki, Finland, Silo AI is known for its end-to-end AI-powered solutions that help businesses seamlessly integrate AI into their products and operations. The company has a team of experts who have created bespoke AI models and platforms for top-tier clients such as Allianz, Philips, Rolls-Royce and Unilever.
A strategic expansion
“At Silo AI, our mission from the beginning has been to build a flagship AI company. Today’s announcement is a logical next step in that quest 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 proven track record of building successful AI products and delivering value to our customers. We look forward to joining AMD to further expand our impact and develop enterprise solutions and AI models that address the most complex challenges of deploying AI at scale today.”
The acquisition is part of AMD’s broader AI strategy, which has seen the company invest more than $125 million in several AI companies over the past year, including the acquisitions of Mipsology and Nod.ai. This strategic expansion aims to strengthen AMD’s AI ecosystem and computing platforms.
“Across all industries, businesses are looking for fast and effective ways to develop and deploy AI solutions for their specific business needs,” said AMD Senior Vice President Vamsi Boppana. “Silo AI’s team of trusted AI experts and proven experience developing leading AI models and solutions, including next-generation LLMs built on AMD platforms, will further accelerate our AI strategy and drive the rapid development and deployment of AI solutions for our global customers.”
Sarlin will continue to lead Silo’s AI team within AMD’s Artificial Intelligence Group and report directly to AMD’s Boppana. The acquisition is expected to close in the second half of 2024.
