AMD has announced the signing of a definitive agreement to acquire Silo AI, the largest private AI lab in Europe, in an all-cash transaction valued at approximately US$665 million.
Silo AI CEO and co-founder Peter Sarlin will continue to lead the Silo AI team as part of the AMD Artificial Intelligence Group, reporting to AMD senior vice president Vamsi Boppana. The acquisition is expected to close in the second half of 2024, according to AMD.
The agreement represents another significant step in AMD's strategy to deliver end-to-end AI solutions based on open standards and in strong partnership with the global AI ecosystem, said the US processor vendor. The Silo AI team consists of world-class AI scientists and engineers with extensive experience developing tailored AI models, platforms, and solutions for leading enterprises spanning cloud, embedded, and endpoint computing markets.
Based in Helsinki, Finland, with operations in Europe and North America, Silo AI specializes in end-to-end AI-driven solutions that help customers integrate AI quickly and easily into their products, services and operations. Their work spans diverse markets, with customers including Allianz, Philips, Rolls-Royce, and Unilever.
Silo AI also creates state-of-the-art open-source multilingual LLMs, such as Poro and Viking, on AMD platforms in addition to its SiloGen model platform.
Silo AI marks the latest in a series of acquisitions and corporate investments to support the AMD AI strategy. AMD has invested over US$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.
"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, SVP of AMD's AI group. "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."
Also in AMD's statement, Silo AI CEO and co-founder Peter Sarlin said "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."
