Advanced Micro Devices (AMD) has taken a significant stride in bolstering its artificial intelligence (AI) capabilities by announcing the acquisition of Silo AI, Europe’s largest private AI lab. The all-cash transaction is valued at approximately $665 million and signifies a significant step in AMD’s strategy to deliver comprehensive AI solutions based on open standards in collaboration with the global AI ecosystem.
In the past year, AMD has experienced notable growth. Now, the company is looking to strengthen its AI expertise with the acquisition of Silo AI, thereby creating an enhanced AI talent pool, aimed at better serving existing and new customers while boosting AI software development efforts.
“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.”
Founded and headquartered in Helsinki, Finland, Silo AI has a team of world-class AI scientists and engineers renowned for developing tailored AI models, platforms, and solutions across cloud, embedded, and endpoint computing markets. Notable clients include industry leaders such as Allianz, Philips, Rolls-Royce, and Unilever. Silo AI is also known for developing state-of-the-art open-source multilingual large language models (LLMs) like Poro and Viking, as well as the SiloGen model platform, all of which are built on AMD platforms.
“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.”
Under the leadership of CEO and co-founder Peter Sarlin, Silo AI will continue to operate as part of AMD’s Artificial Intelligence Group, with Sarlin reporting to AMD’s senior vice president, Vamsi Boppana. The acquisition is anticipated to finalize in the second half of 2024.
Silo AI marks the latest in a series of acquisitions and corporate investments to support the AMD AI strategy. AMD has invested over $125 million across a dozen AI companies in the last 12 months and also acquired Mipsology and Nod.ai to expand the AMD AI ecosystem, support partners and advance leadership AMD computing platforms.
AMD’s strategic investment in Silo AI follows a series of targeted acquisitions and investments in the AI sector, totaling over $125 million across twelve companies in the past year. Earlier acquisitions include Mipsology and Nod.ai, reinforcing AMD’s commitment to expanding its AI ecosystem and bolstering its computing platforms.
As the acquisition progresses towards completion, AMD anticipates leveraging Silo AI’s innovative prowess to drive forward its vision of AI computing excellence, setting new benchmarks in the industry.
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