AMD acquires Silo AI, one of Europe's largest AI startups, for over 100 billion yen, possibly to strengthen its competitiveness against NVIDIA
On July 10, 2024, semiconductor manufacturer AMD announced that it had acquired Finnish AI startup
AMD to Acquire Silo AI to Expand Enterprise AI Solutions Globally :: Advanced Micro Devices, Inc. (AMD)
https://ir.amd.com/news-events/press-releases/detail/1206/amd-to-acquire-silo-ai-to-expand-enterprise-ai-solutions
AMD to Acquire Silo AI to Expand Enterprise AI Solutions Globally
AMD to acquire Finnish startup Silo AI for $665 mln to step up in AI race | Reuters
https://www.reuters.com/markets/deals/amd-acquire-finnish-startup-silo-ai-665-mln-step-up-ai-race-2024-07-10/
Based in Helsinki, Finland, Silo AI provides end-to-end AI solutions and large-scale language models such as SiloGen to customers including Philips, Rolls-Royce, and Unilever, and develops open-source large-scale language models such as ' Poro ' and ' Viking ' on AMD platforms.
On July 10, 2024, AMD announced that it would acquire Silo AI for approximately $665 million.
'Across all industries, companies are looking for fast and effective ways to develop and deploy AI solutions for their unique business needs,' said Vamsi Boppana, senior vice president at AMD. 'Silo AI's trusted team of AI experts and proven track record of developing AI models and solutions, including cutting-edge, large-scale language models built on AMD platforms, will further accelerate our AI strategy, enabling us to build and rapidly implement AI solutions for customers around the world.'
Peter Serlin, CEO and co-founder of Silo AI, said, 'Since our inception, Silo AI's mission has been to build a flagship AI company. This announcement marks a logical and important step in that pursuit as we work with AMD to shape the future of AI computing. Silo AI has a history of delivering successful AI solutions and value to our customers. We look forward to joining the influential AMD family to develop enterprise solutions and AI models that can address today's most complex challenges in deploying AI at scale.'
AMD has previously acquired Nod.ai, an AI software developer, and is investing more than $125 million (approximately 20.2 billion yen) in 12 AI companies over the 12 months from July 2023. The purpose of this investment is believed to be to expand AMD's AI ecosystem, support partners, strengthen the AMD computing platform, and strengthen its competitiveness against rival NVIDIA.
AMD acquires AI software developer Nod.ai, aiming to strengthen its competitiveness against NVIDIA - GIGAZINE
With this acquisition, Sirlin will report to Boppana and lead the Silo AI team as part of the AMD Artificial Intelligence Group. AMD's acquisition of Silo AI is expected to close in the second half of 2024, and Boppana expressed his expectations that 'this will unlock a significant portion of AMD's future business.'
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