AMD has announced a definitive agreement to acquire Silo AI, Europe's largest private AI lab, in an all-cash deal valued at approximately US$665 million. This acquisition is poised to strengthen AMD's offerings in enterprise AI solutions on a global scale.
Broadening enterprise AI capabilities
This strategic acquisition aims to merge Silo AI's extensive AI expertise with AMD's robust technological base to revolutionize applications of enterprise AI. Known for developing bespoke AI models and solutions, Silo AI has made significant inroads in industries spanning cloud to endpoint computing.
Peter Sarlin, CEO and co-founder of Silo AI, will maintain his leadership role within AMD's Artificial Intelligence Group under the guidance of Vamsi Boppana, AMD's Senior Vice President. The deal is expected to be finalized in the second half of 2024.
Vamsi Boppana said, “Across every industry, enterprises are looking for fast and effective ways to develop and deploy AI solutions for their unique business needs. 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 buildout and rapid implementation of AI solutions for our global customers.”
Enhancing the global AI landscape
Located in Helsinki, Finland and extending its operations across Europe and North America, Silo AI specialises in providing comprehensive AI-driven solutions that facilitate swift and seamless integration of AI into clients' products, services, and operations. Their clientele includes major companies like Allianz, Philips, Rolls-Royce, and Unilever. Additionally, Silo AI has developed pioneering open-source multilingual LLMs, such as Poro and Viking, optimised for AMD platforms.
Peter Sarlin stated, “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. 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.”
Supporting long-term collaboration and innovation
The acquisition aligns with AMD's aggressive expansion strategy, which includes investing over US$125 million in various AI enterprises in the past year and acquiring Mipsology and Nod.ai. These moves are designed to enhance AMD's AI ecosystem and support its partners.
Nishant Batra, Chief Strategy and Technology Officer at Nokia, commented, “As a leading European AI company, Silo AI has been a great long-term partner for us in many AI-related projects. We look forward to the enhanced capabilities the combination of AI technologies and innovative compute solutions from AMD will bring.”
This move underlines AMD's commitment to leading the charge in AI technology and catering to the evolving needs of enterprises worldwide.
