AMD to acquire European Silo AI for $665m

The deal is expected to close towards the end of 2024

In a move to bolster its artificial intelligence capabilities, AMD has announced plans to acquire Silo AI, a European private AI lab, for approximately $665m (£517m) in an all-cash deal.

The acquisition, expected to close in the second half of 2024, marks another step in AMD's strategy to deliver comprehensive AI solutions and strengthen its position in the global AI market.

Helsinki-headquartered Silo AI has operations across Europe and North America and specialises in developing tailored AI models, platforms, and solutions for enterprise clients.

The company's roster of customers includes industry giants such as Allianz, Philips, Rolls-Royce, and Unilever.

Under the terms of the agreement, Silo AI's CEO and co-founder, Peter Sarlin, will continue to lead the team as part of AMD's Artificial Intelligence Group, reporting to AMD SVP Vamsi Boppana.

Boppana emphasised the strategic importance of the acquisition, stating: "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."

The acquisition of Silo AI is part of AMD's broader investment strategy in AI.

Over the past year, AMD has invested more than $125m across a dozen AI companies and acquired firms like Mipsology and Nod.ai to expand its AI ecosystem.

Silo AI has garnered recognition for its work in scaling large language model training on LUMI. The company has also developed open-source multilingual language models, such as Poro and Viking, which have contributed to advancing AI capabilities for European languages.